BEIJING/NEW DELHI (Reuters) -China on Monday urged India to ensure Chinese companies operating in India are not discriminated against, after Xiaomi Corp said its executives there had faced threats of violence during questioning over alleged illegal remittances. Reuters reported on Saturday that Xiaomi, the biggest smartphone seller in India, had outlined the alleged threats of physical violence and coercion from officials of India's Enforcement Directorate - which tackles financial crime - in a filing to an Indian court.
NEW DELHI (Reuters) -India said on Saturday it had seized $725 million from the local bank accounts of China's Xiaomi Corp after a probe found the smartphone maker had made illegal remittances to foreign entities by passing them off as royalty payments. The Enforcement Directorate had been investigating the Chinese company's business practices over suspected violations of Indian foreign exchange laws. The financial crime fighting agency said on Saturday it had seized the bank account assets from Xiaomi Technology India Private Limited after finding the firm had remitted the foreign currency equivalent of 55.5 billion rupees to three foreign-based entities, including one Xiaomi group entity, "in the guise of royalty" payments.
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