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Deepti Sri · · 1 min readReport: ByteDance says India’s freeze of its bank accounts was illegal
“China’s ByteDance has told an Indian court that a government freeze on its bank accounts in a probe of possible tax evasion amounts to harassment and was done illegally,” Reuters reported, citing a filing.
Details:
- ByteDance has challenged the freeze on its four accounts in the Bombay high court, claiming that the authorities acted against the company without any material evidence and gave no notice as required by Indian law.
- The report also stated that ByteDance’s employees have not been paid their March salaries due to the account freeze.
Context:
- In January, ByteDance decided to reduce the size of its India team and said it is unsure about the company’s comeback in the country.
- The short-video app is also said to be exploring a sale of TikTok’s India operations to rival unicorn Glance.
Editing by Collin Furtado and Jaclyn Tiu
(And yes, we’re serious about ethics and transparency. More information here.)
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