India’s Directorate of Enforcement (ED) has formally notified mobile phone maker Xiaomi Technologies India Private Limited, Xiaomi India, and some of its executives, as well as three banks including Citi, regarding the alleged violation of the country’s Foreign Exchange Management Act (FEMA) by “illegally transferring funds to foreign entities.” Indian authorities had previously frozen a sum of INR 55.51 billion of Xiaomi India’s funds, which now amounts to nearly RMB 5 billion (USD 785 million). This notice indicates that the frozen assets could be officially confiscated if the charges are proven valid. [China Fund, in Chinese]