Prakash Katama, Director of Nokia India’s Chennai plant has quit and the position is being taken up by V Sembian, head of product and process engineering, reports Business Standard. Sources also told the publication that about 200 of the 700 trainees at the factory had accepted the voluntary retirement package offered by Nokia. The package to trainees includes the gross salary for three months and compensation of Rs 2 lakh. There have also been allegations these employees were forced to opt for VRS. The plant is stuck in a legal dispute as of now in Supreme Court and at Madras High Court following its purchase by Microsoft. The company has filed a write at the Madras High Court and it said in a statement that it considers the claim to be completely without merit and counter to domestic tax laws. Supreme Court had ordered the Finnish company to give a Rs 3,500 crore guarantee and waive off some of its rights to legal defence before it transfers the factory to Microsoft. Due to these issues there have also been rumours of Nokia leaving out the plant from Microsoft deal. This is a possibility since the company is contractually obliged to transfer all its assets to Microsoft by the end of this month. However, it doesn't look like the company will be able to meet that deadline. * SC okays CAG audit The Supreme Court ruled that the Comptroller and Auditor General (CAG) was empowered to examine the accounts of private telecom companies, reports Indian Express. The…
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