Supreme Court dismisses Nokia's appeal over asset transfer to Microsoft

New Delhi: The Supreme Court has dismissed Nokia's appeal challenging a lower court order over transferring ownership of its local mobile phone plant to Microsoft. The Supreme Court upheld a verdict by the Delhi High Court and ordered Nokia to give a guarantee for rupees 3,500 Cr.

Nokia, which is selling its mobile phones business to Microsoft in a 5.4 billion euro deal, had appealed to the Supreme Court stated that the Delhi High Court had imposed new conditions over the transfer of the plant, after previously lifting a freeze on the assets.