Thursday, December 12, 2013

Delhi HC lifts Nokia factory freeze in tax dispute, allows sell of Chennai plant to Microsoft

NEW DELHI: The Delhi High Court on Thursday allowed Nokia Corp to sell its Chennai factory to Microsoft Corp, asking income-tax authorities to revoke the freeze on the Finland-based handset maker's assets, removing an impediment that could have hampered one of the world's most significant technology acquisition deals.

The court also asked Nokia's India unit to park a minimum of Rs 2,250 crore in an escrow account as a safeguard to assuage the fears of the tax department, which has  .. 

No comments:

Post a Comment