As per the appellants, Xiaomi had utilised approximately 30 per cent of the ₹5,551.27 crore amount that was liable to be seized. It was claimed that Xiaomi had about ₹7,000 crore in its bank account, as on April 2022.
However, between May and October 2022, the company allegedly utilized approximately ₹1,594.48 crore, leaving only about ₹4,241 crore in its accounts.
Source: Barandbench
