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On Wednesday (July 13), Chinese telecom company Vivo has got a big relief from the Delhi High Court. The High Court was hearing a petition filed by the Vivo company, seeking permission to transact in its frozen accounts.
The High Court, while hearing the matter, has allowed the company’s accounts to freeze and operate debit on the condition of a bank guarantee of Rs 950 and a minimum balance of Rs 250 crore.
However, according to the report of ANI, the court has also told the company that it will have to inform the ED about its every transaction. On the other hand, the High Court has also asked the Enforcement Directorate (ED) to respond to the petition filed by the Vivo company.
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