Indian tax officials freeze Nokia's assets amid tax dispute with govt
MUMBAI (AFP) - The Indian authorities have frozen some of Finnish telecom giant Nokia's assets, the company said on Tuesday, amid a 20 billion rupee (S$400 million) tax dispute with the New Delhi government.
Tax authorities froze Nokia's bank accounts as well as fixed assets, such as buildings, last week, forcing the company to head to the High Court which ordered some of them released, Nokia said in a statement.
Nokia said it has regained access to its bank accounts but some fixed assets remain frozen. It was unclear whether one of its biggest plants worldwide, located in the southern Indian city of Chennai, was targeted in the action.
Nokia is among a string of multinationals to have become embroiled in tax disputes in India, including Cadbury, Royal Dutch Shell and Vodafone.