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Wireless

Nokia loses court ruling in Indian tax dispute

Wednesday 12 February 2014 | 15:18 CET | News
Nokia faces a setback in plans to transfer its Indian handset assets to Microsoft, after a new court ruling set additional conditions on the deal. In December, Nokia appeared to win an important reprieve in the group's USD 1.1 billion tax dispute in India, when a court in New Delhi ruled that company could transfer the Chennai factory. However, last week another court ruling imposed extra conditions on the company, which it said were "unacceptable", the Financial Times reports. Nokia said it would not be able to transfer the assets and the ruling puts the continuity of its operations in India

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Categories: Mobile & Wireless
Companies: Microsoft / Nokia
Countries: India
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