The Higher High Court of India allows thawing vivo's bank account, but this Chinese mobile phone manufacturer is required to provide banks with a guarantee of 9.5 billion Indian rupees (the same below, about S $ 167 million) to the bank.
Comprehensive reports of Bloomberg, Reuters, Indian Economic Times and Interface News, in addition to huge guarantee deposits, the court also instructed Vivo to retain 2.5 billion rupees in the account.
The report quoted legal documents that Vivo had previously sought the decision to revoke the Indian law enforcement bureau's frozen company bank account from the Delhi High Court, saying that the move was illegal and it would damage the company's business operations.The document also wrote that vivo will not be able to pay statutory fees and wages because the account freezes.
In this regard, the Delhi High Court asked the Indian Law Enforcement Bureau to make a decision on Vivo's request before Wednesday (July 13).
The Indian Law Enforcement Bureau last Tuesday (5th) on the grounds of suspected violation of the money laundering bill, and launched an assault inspection of the Vivo Indian company and its dealers.
vivo responded at the time, "It is cooperating with the relevant Indian departments to provide them with all the information. As a responsible company, we strictly abide by all local laws and regulations in India."
