SFIO Seeks Detailed Probe Into Xiaomi India’s Business Model

by · Inc42

SUMMARY

  • The serious fraud investigation office (SFIO) has reportedly recommended a probe into alleged irregularities in Xiaomi’s business model and compliance
  • The development comes as Xiaomi continues to be under regulatory scrutiny in India, with authorities examining alleged FEMA violations and customs-duty evasion
  • According to Reuters, SFIO has recommended a detailed investigation to examine the movement of funds by Xiaomi