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India court lifts Nokia factory freeze in tax dispute

12
Dec
2013

An Indian court on Thursday accepted Nokias appeal to release its local factory after its seizure by authorities in a tax dispute, removing a hurdle for the sale of the companys mobile phone business to Microsoft. The Chennai plant is one of Nokias biggest phone-making factories. Nokia appealed the seizure and has been trying to end the dispute ahead of the closure of the 5.4 billion euro ($7.4 billion) Microsoft deal. In March, Nokia was served with a tax demand of about 20.8 billion rupees ($340.45 million) for five fiscal years starting from 2006-07, according to a March 22 notice on the Delhi High Court website.

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