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Business & Finance

Reuters exclusively reports India blocks bank accounts of China’s ByteDance

Reuters reported exclusively that Indian authorities have blocked at least two of ByteDance’s bank accounts for alleged tax evasion, prompting it to ask a court to quash the directive that it fears will hit its operations. In a court filing, which is likely to be heard this week at a High Court in the financial capital Mumbai, ByteDance India has said that although it had only about $10 million in its accounts, the blocking decision was an abuse of the legal process and would make it hard for it to pay salaries and taxes.

Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Equities
Regions: Asia
Countries: India
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story
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