Nokia can transfer Chennai factory to Microsoft

After winning the plea Nokia is now free to transfer its Chennai factory to Microsoft. The factory was earlier seized by authorities in a major tax dispute.

Chennai Nokia factory was one of the biggest phone-making factories in the country and Nokia’s factory transfer to Microsoft is also a part their mobile phone business selling plan to Microsoft at 5.4 billion euro.

The Delhi High Court has directed Nokia to deposit 22.50 billion rupees in an escrow account as a condition for lifting the freeze and transferring the factory to Microsoft.

(Additional info from Reuters)

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