Reprieve for Nokia (and its employees) from Delhi HC
SOME 30,000 employees of Nokia's Sriperumbudur factory heaved a sigh of relief yesterday as the Delhi High Court revoked the Income Tax Department's freezing the bank accounts of Nokia. The Delhi High Court yesterday permitted sale of assets by Nokia India to Microsoft/Microsoft International subject to fulfilment of certain conditions, which includes a deposit of at least Rs.2250crores in an escrow account.
You can get the full High Court order at 2013-TII-54-HC-DEL-INTL