In a significant development, the Enforcement Directorate’s Adjudicating Authority has issued show-cause notices under the FEMA (Foreign Exchange Management Act) to Xiaomi Technology India Private Limited, its officials, and three banks. The case revolves around alleged illegal remittances worth 5,551.27 crores made by the Chinese company. The show-cause notices have been issued to explain the contravention of FEMA provisions and non-compliance with Reserve Bank of India (RBI) directions regarding foreign outward remittances.