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Nokia Corporation Message Board

back_to_reaiity 1 post  |  Last Activity: Dec 16, 2014 5:57 AM Member since: Feb 5, 2013
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  • back_to_reaiity back_to_reaiity Dec 16, 2014 5:57 AM Flag

    Looks like old news
    16 Apr, 2014
    The tax authorities attached the factory soon after the Nokia-Microsoft deal was announced last September. Nokia India has offered to put Rs 2,250 crore in an escrow account, and has already paid Rs 700 crore separately to free up the plant.

    As directed by the Delhi High Court, it also agreed to furnish a Rs 3,500-crore bank guarantee covering the amount it had transferred to its parent as dividend. But it opposed another condition — to furnish another bank guarantee from the parent covering unspecified potential future tax liabilities — and appealed against it in the Supreme Court, which upheld the HC order.
    Remember Nokia said the tax department withdrew funds which was Nokia's recent complaint. 3500 minus the 500 is pretty close to Rs 3080 number.. These funds are seen as Nokia India funds, transferred to Nokia Finland as a div they brought back I'm sure.If there was a ruling of any kind it would be plastered on every finance site, along with Nokia;s next step..

    Just more scare tactics...

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