Delhi HC allows entities related to Vivo to operate bank accounts with condition

The Delhi High Court Monday granted permission to 14 entities, which the Enforcement Directorate (ED) claims are connected to Chinese smartphone maker Vivo, to operate their frozen bank accounts subject to maintaining the balance which stood in the accounts as on the date of agency’s search in a money laundering probe.

The high court said these entities shall also give details to ED about their remittances made from the frozen bank accounts after every 48 hours.

Justice Yashwant Varma said subject to the petitioner companies maintaining a balance as was available on the day of freezing the individual bank accounts, the debit freeze order of ED can be modified.