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India’s Supreme Court rejects Nokia appeal

: Sunday, March 16 - 2014 @ 05:21

Finnish communications firm, Nokia has said it is considering its options after India’s Supreme Court rejected its appeal against a demand for a multimillion-dollar payment before it transfers a mobile phone plant and other assets in the country to Microsoft Corp, Reuters has reported. The Supreme Court upheld a lower court verdict that ordered Nokia to pay a Rs35bn ($571.2m) guarantee after local authorities blocked the factory’s transfer in a dispute over tax.

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Sunday, March 16- 2014 @ 5:21 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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