ByteDance says 'bleeding' due to India bank account freeze, no relief from court
The Hindu
A two-judge bench at the High Court in Mumbai city heard the plea of a ByteDance counsel who said the company was "bleeding"and needed funds to pay staff salaries and rent, but the court gave no relief.
(Subscribe to our Today's Cache newsletter for a quick snapshot of top 5 tech stories. Click to subscribe for free.) An Indian court on Wednesday granted no relief to China's ByteDance, owner of the TikTok video app, in a case where the company challenged the local tax authority's decision to block its Indian bank accounts, dealing a blow to its operations. Indian authorities in mid-March blocked ByteDance's bank accounts for alleged tax evasion, prompting the company to ask a court to quash the directive which it feared would hurt its operations, Reuters reported on Wednesday.
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