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Nokia Seeks Lifting of Asset Freeze by Income Tax Authorities

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Looking to sell its plant near here, Nokia today sought lifting of an asset freeze imposed by the I-T department in the wake of a tax dispute, saying it is being approached by several prospective buyers.

The company in a statement said that several “prospective buyers” have been approaching it and the asset freeze is impeding the process.

The Chennai-unit, one of the largest manufacturing facilities for Nokia, suspended production from November 1 in the aftermath of it being excluded out of the Nokia-Microsoft USD 7.2 billion deal. Click here to read the full post

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Wahengbam Rorrkychand

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Website: http://www.blog.tonsetelecom.com

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