China's Huawei wants India to relax overseas payment restrictions

The bench of High Court had asked the firm to file specific details regarding payments to overseas suppliers and issued notices to the I-T department asking it to respond to Huawei's demand within two weeks.

China's Huawei wants India to relax overseas payment restrictions
Huawei Telecommunications. Credits: www.huawei.com

Huawei Telecommunications (India) has urged the Delhi High Court to adjust its April order, restraining it from repatriating money abroad, as it can't pay overseas suppliers.

The Delhi High Court on April 21 had barred the firm from sending money overseas until the next hearing without its nod. The High Court on same day had stayed the provisional attachment of Huawei India's bank accounts and trade receivables of INR 1,500 crore by the Information Technology (IT) department.