Post Delhi High Court’s decision, Finnish handset maker Nokia on Thursday said it would now start the planned transfer of its Indian assets to Microsoft, but said various statutory clearances are required before the hand-over.
“Nokia acknowledges the decision by the Delhi High Court today to release Nokia’s Indian assets, including its Chennai facility, for the planned transfer to Microsoft,” the company said in a statement.
The statement further said: “Our current understanding is that this decision allows for transfer of the assets. However, Nokia has been asked to meet a number of conditions in the ruling and still needs to provide the authorities with additional documentation.”
Nokia expects these conditions to be in line with global treaties and practices, it added.
“The company will now start to prepare for the planned transfer of the assets, but notes that there are still a number of statutory clearances that remain before the assets can transfer,” Nokia IMEA Director (Communications) Poonam Kaul said.