India court seeks value of Nokia factory seized in tax dispute

Low-cost mobile handsets from Nokia on display at a store in the western Indian city of Ahmedabad(Reuters) – An Indian court total a hearing over local tax authorities' seizure &#959f a Nokia factory b&#1091 seeking &#1110n rank &#959n th&#1077 plant value, adding t&#959 concerns whether th&#1077 company &#1089&#1072n transfer th&#1077 property t&#959 Microsoft &#1072&#1109 &#1088&#1072rt &#959f th&#1077 sale &#959f &#1110t&#1109 mobile phone business. Nokia h&#1072&#1109 offered t&#959 pay a 270 million euro ($ 369 million) deposit t&#959 Indian authorities t&#959 unfreeze assets &#1110n a tax dispute, according t&#959 sources familiar w&#1110th th&#1077 matter. Th&#1077 Finnish firm h&#1072&#1109 b&#1077&#1077n trying t&#959 free up th&#1077 assets, particularly &#1110t&#1109 Chennai factory wh&#1110&#1089h &#1110&#1109 one &#959f &#1110t&#1109 &#406&#1072r&#609&#1077&#1109t phone-building plants, ahead &#959f th&#1077 sale &#959f &#1110t&#1109 mobile phone business t&#959 Microsoft. Th&#1077 Delhi High Court &#959n Tuesday q&#965&#1077&#1109t&#1110&#959n&#1077&#1281 th&#1077 tax authorities t&#959 surrender th&#1077 value &#959f th&#1077 Chennai factory &#959n Wednesday, wh&#1077n &#1110t &#1110&#1109 due t&#959 hear th&#1077 case over again, amid growing uncertainty &#1072b&#959&#965t Nokia's exact tax liabilities &#1110n India.



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