Update: Nokia India has shared the following statement with Medianama: "Late last week, the Delhi High Court ruled in Nokia’s favour in a case where the Indian tax authorities froze some of Nokia’s assets for potential claims that hadn’t even been raised against the company yet. Nokia welcomes this court decision. We are now working closely with the tax authorities to ensure that the parties will find a comprehensive solution to the remaining open issues, and discussions have been constructive. Contrary to speculation in the media, Nokia has sufficient assets in India to meet its tax obligations, details of which will be shared with the tax authorities to allay any concerns they may have. Given that negotiations are ongoing, Nokia will not comment further on this matter. Nokia reiterates that it operates with transparency in its business transactions, and is committed to resolving its outstanding issues with Indian Tax authorities in accordance with all applicable laws, while also ready to defend ourselves vigorously as needed. This resolution to fulfill all our obligations is part of our firm commitment to be a good corporate citizen." Earlier: Following Microsoft's acquisition of Nokia's devices and services business, the Delhi High Court has put an interim stay on Nokia India transferring the ownership rights for any of its immovable assets, reports The Financial Express. The court has also reportedly forbidden Nokia from transferring these assets to any third person and has asked the company to inform the assessing officer before sending back money overseas. Note…
