Nokia Plant News

The Delhi High Court Monday appointed Ernst & Young India Pvt Ltd as valuer for Nokia India's Chennai mobile making plant, frozen over an alleged Rs 10,000 crore tax dispute with the Income Tax department.

The Nokia plant, based near Chennai, had started operations in 2006 and shut down operations on November one last year.

In a bid to improve investor sentiment, the electronics department has suggested to Finance Minister Arun Jaitley that some measures be taken to revive the Nokia plant in Chennai.

In a bid to improve investor sentiment, the electronics department has suggested to Finance Minister Arun Jaitley that some measures be taken to revive the Nokia plant in Chennai.

Finance Minister Arun Jaitley Saturday said revenue department must recover the legitimate dues but there is no point in focusing on unfairly imposed taxes as they only bring "bad name".

The company in a statement said that several "prospective buyers" have been approaching it and the asset freeze is impeding the process.

European Union on Monday put the blame on "lack of support from the state" for loss of jobs arising from suspension of Nokia's plant near here, a charge rejected by the Tamil Nadu government.