Delhi High Court Lifts Ban On Vivo Bank Accounts In Money Laundering Case

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.

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).