The High Court of Delhi has asked Chinese smartphone maker Vivo to approach the PMLA Appellate Tribunal in relation to the freezing of its bank accounts pursuant to a money laundering probe by the Enforcement Directorate.
Justice Prathiba M Singh asked Vivo, which has already filed an appeal before the tribunal, to file a plea there itself for interim relief and clarified that until a decision, interim or final, is taken by the tribunal, the high court's earlier orders asking the company to furnish bank guarantee of Rs 950 crore and to maintain the credit balance of over Rs 251 crore to be able to use the bank accounts shall continue. The proceedings on interim applications as also the final adjudication may be conducted expeditiously before the Appellate Tribunal within four weeks either from filing of the appeal or from first listing of the appeal along with the interim applications, added the court.
"The interim arrangements, which have been directed by this Court ... shall continue till the time the Appellate Tribunal decides the interim applications or till the final decision in the Appeals, in terms of the orders that may be passed by the Tribunal," the court said in its order passed on March 28.
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