Finnish mobile handset maker Nokia, which had a dispute with the Indian tax authorities, has appealed to the Delhi High Court to release its seized factory as it prepares to transfer its assets to Microsoft. Back in October, Nokia got a small respite when the court ruled in the company’s favor and unfroze some of the company’s assets.
As a part of $7.2 billion deal, Microsoft will be acquiring Nokia’s handset business, and the Finnish company would ideally like to transfer the Chennai manufacturing plant along with other assets by December 12.
“Nokia can confirm it has gone to the Delhi High Court today to seek a revocation of the asset freeze requested by Indian tax authorities in September on its Indian factory assets,” Nokia said in a statement. “This is the latest step taken by the company as it seeks a fair resolution with tax officials over issues that first emerged in January, and Nokia is now pursuing this action as it prepares to sell substantially all of its Devices & Services business to Microsoft,” it added.
The company also added that in case the factory is not transferred on time, it is ready to operate as a contract manufacturer for Microsoft. Nokia’s shareholders recently gave the deal with Microsoft a thumbs up and Nokia would ideally want to complete all the transactions as soon as possible.
