ADVERTISEMENT
Vivo's Bank Accounts Ban Lifted In Money Laundering Case: Report
13 Jul 2022, 01:03 PM IST
An Indian court on Wednesday lifted a freeze on smartphone maker Vivo's bank accounts imposed by the country's financial crime agency and ordering the Chinese company to provide a bank guarantee of $119 million, a lawyer for the company told Reuters.
In a filing to the Delhi High Court in the capital, Vivo India had said it would not be able to pay statutory dues and salaries, listing 10 affected bank accounts and saying it needed to make monthly payments of Rs 2,826 crore ($355 million).
Get live Stock market updates, Business news, Today’s latest news, Trending stories, and Videos on NDTV Profit.
ADVERTISEMENT