Delhi HC allows Chinese smartphone maker Vivo to use bank accounts on three conditions
Shortpedia
Content Team
Image Credit: Inc42
After refusing any interim relief, the Delhi High Court has allowed the de-freezing of the bank accounts of the Chinese smartphone maker Vivo on conditions. The HC has asked the company to provide a bank guarantee first to access the accounts. The court allowed the de-freezing of Vivo’s bank accounts and operating the same on the condition that Vivo furnishes a bank guarantee of INR 950 Cr and maintains a balance of INR 250 Cr.
