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Karnataka HC frees Xiaomi's Rs 3,700 FD attachment

 2 years ago
source link: https://nextbigwhat.com/karnataka-hc-frees-xiaomis-rs-3700-fd-attachment/
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Karnataka HC frees Xiaomi’s Rs 3,700 FD attachment

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The provisional attachment order issued by the Income Tax Department in relation to the Rs 3,700 crore in fixed deposits held by Xiaomi India has been overturned by the Karnataka High Court.

The petitioner Xiaomi had contested the provisional attachment order and argued that the decision was plainly arbitrary and showed premeditation.

[Via]


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