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Repost from Tech & Leaks Zone
ED issues Show-cause Notices to Xiaomi India for Foreign Exchange violation of Rs.5,551 crores
Report
The Enforcement Directorate (ED) of India has issued " Show-Cause notices" to Manu Kumar Jain, Xiaomi India Director and Chief Financial Officer along with 3 Foreign banks — Citi Bank, HSBC Bank and Duetsche Bank AG for foreign exchange violation.
A show-cause notice is issued after the completion of the ED investigation and once it is settled, an accused is required to pay "penalty".
Last Year, ED seized Rs 5,551 crores (682 Million US$) as it has been transferred out of India by Xiaomi India in an "unauthorized manner" and is held outside India by passing them off as "royalty" payments.
It is highest amount frozen yet in India and ED sent it for approval from competent authority
The authority confirmed it as they observed that payment of royalty is nothing but a tool to transfer the foreign exchange out of India
Xiaomi India might pay maximum of Rs. 16,653 crores as penalty
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Google's setting new standards for device performance in Android 12
This year's performance class is dedicated primarily to camera capabilities and media playback, covering topics like frame drops, encoding quality, and HDR image capture. It's good news for anyone planning to upgrade their phone anytime soon, since some of the requirements are actually pretty strict:
A primary 12MP (or higher) camera with 4K 30FPS support
A 1080p display with 400 PPI or higher
At least 6GB of RAM
Specific read/write speeds
Good to see Infinix getting better and better ui koodi perfect akkiyal old Shavomi level ethum in selling both Tecno and Infinix....
