Delhi HC has refused to vacate the trial court’s order in the Huawei India case

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The Delhi High Court refused to overturn the lower court’s (trial court’s) decision to overturn the I-T department’s lookout circular (LOC) against Huawei India CEO Li Xiongwei.

However, the Delhi High Court has added conditions to the trial court’s previous order. It has requested that Huawei India’s CEO make a fixed deposit (FD) of INR 5 Cr with a nationalised bank in India before travelling abroad. Furthermore, he (Huawei India’s CEO) has been ordered to participate in the I-T department’s investigation twice or else the FD will be forfeited.

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Delhi HC has refused to vacate the trial court’s order in the Huawei India case

The Delhi High Court refused to overturn the lower court’s (trial court’s) decision to overturn the I-T department’s lookout circular (LOC) against Huawei India CEO Li Xiongwei.

However, the Delhi High Court has added conditions to the trial court’s previous order. It has requested that Huawei India’s CEO make a fixed deposit (FD) of INR 5 Cr with a nationalised bank in India before travelling abroad. Furthermore, he (Huawei India’s CEO) has been ordered to participate in the I-T department’s investigation twice or else the FD will be forfeited.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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