SFIO Recommends Detailed Probe Into Xiaomi Over Foreign Investment Compliance
India’s Serious Fraud Office has recommended investigating Xiaomi for alleged irregularities in its business model and compliance with foreign investment rules. The proposed probe would review movement of funds and whether Xiaomi sought required investment approvals after India tightened scrutiny of Chinese investments following 2020 border clashes. The document also calls for checking disclosed beneficial ownership or changes in control.