iWorld
ByteDance moves to court over blocking of bank accounts in India
KOLKATA: Indian authorities have reportedly blocked bank accounts of ByteDance, the parent company of TikTok. The Chinese tech company has moved to court asking to quash the directive as it fears that the decision will hit Indian operations hard.
According to a Reuters report, at least two bank accounts held by ByteDance have been frozen due to alleged tax evasion. Quoting sources, the report mentioned that ByteDance India’s accounts in Citibank and HSBC Bank were ordered to be blocked in mid-March.
Moreover, the authorities also directed the abovementioned banks to stop ByteDance India from withdrawing funds from any other bank accounts linked to its tax identification number. The Bombay high court has listed the case between ByteDance and the Indian government for hearing on Wednesday.
“At ByteDance, we are committed to abiding by local laws and regulations. While we disagree with the decision of the tax authority in this matter, we will extend our full cooperation to the government," ByteDance said in a statement as quoted by several reports.
In January 2021, ByteDance decided to cut down its Indian workforce amid the uncertainty over its biggest business TikTok’s future in India. Following the political conflict between India and China, the Centre imposed a ban on a number of Chinese apps including short-video app TikTok last June.
e-commerce
Instamart partners with Kalyan Jewellers for Gold Rate Protection this Akshaya Tritiya
Quick commerce platform lets customers lock in gold prices and pay the lower rate on delivery day.
MUMBAI: Instamart has found a golden way to take the stress out of festive buying by letting customers lock today’s rate and still benefit if prices fall. India’s pioneering quick commerce platform has teamed up with Kalyan Jewellers to introduce Gold Rate Protection, a first-of-its-kind feature for Akshaya Tritiya. Customers can now pre-book BIS hallmarked gold coins on the Instamart app between 10 and 16 April 2026 by paying just 5 per cent advance (starting from Rs 500 for a 0.5 gm coin) and take delivery on 19 April.
On the delivery day (between 8:00 AM and 12:00 PM IST), buyers will pay the lower of the two prices, the rate locked at pre-booking or the market rate on delivery day. As an added festive bonus, all pre-book customers will receive a free silver coin from Kalyan Jewellers.
Arjun Choudhary, VP Growth at Instamart, said the feature was designed to give consumers greater confidence during the auspicious occasion. “By allowing users to secure a price in advance while still benefiting from any price drops, we strive to offer strong overall value,” he noted.
Kalyan Jewellers, executive director Ramesh Kalyanaraman added, “Gold rate protection has been a preferred feature across our retail showrooms. With Instamart, we are extending this convenience for the first time to a quick commerce platform.”
Last year, Instamart witnessed a surge of over 500 per cent in gold and silver coin sales on Akshaya Tritiya compared to Dhanteras, highlighting the growing trust in quick commerce for culturally significant purchases.
This initiative underscores Instamart’s continued push beyond everyday essentials, positioning the platform as a reliable destination for meaningful, occasion-led buys delivered with speed and trust.
This Akshaya Tritiya, Instamart and Kalyan Jewellers have made buying gold not just auspicious, but also refreshingly smart proving that even in the world of quick commerce, some things are worth the wait (and the protection).
