New Delhi, Nov 26 (PTI) The Supreme Court today allowed the request of British telecom giant Vodafone to deposit Rs 2,500 crore, as directed by it earlier, through banking wire transfer instead of bank draft.

The apex court also postponed the date of hearing to July 19, 2011, from the previously scheduled hearing on February 5.

Wire transfer or credit transfer is a method of electronic funds transfer from one person or institution (entity) to another.

A bench headed by the Chief Justice S H Kapadia allowed the Vodafone plea after the company counsel and senior advocate Harish Salve submitted that the money would come through international transactions.

"We need to transfer this amount (Rs 2,500 crore) directly from bank to the Supreme Court registry. It would save us a lot of money. If we get a bank draft it would be price over for us," Salve said. Electronic funds transfer permitted for court-directed deposit by international transaction, and hearing adjourned to a later date. The Supreme Court permitted a court-directed deposit to be made by electronic funds transfer rather than by bank draft, accepting international banking channels for transmission and recognising wire transfer as an acceptable form of payment to the registry. The bench also postponed the scheduled hearing at counsel's request to accommodate the alternative payment mechanism and the logistics of cross-border remittance.