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Indian Government Lifts Nokia's Asset Freeze, Factory Can Transfer To Microsoft
rjmarvin writes "The Delhi High Court approved an appeal by Nokia today to unfreeze the company's Indian assets, including the Chennai mobile phone factory set to be transferred to Microsoft as part of its devices and services acquisition. The decision was contingent on Nokia putting $367 million in escrow to go towards its imposed taxes. Nokia lobbied to lift the freeze to avoid holding up the deal or being forced to stay on as a subcontractor, though they're still on the hook for taxes and penalties to the tune of up to $3.4 billion for a financial period dating back to 2006. Microsoft, though, is in the clear."
We know this means, "The bribe went through with great success!"
Slashdot: Failed Car Analogies. Amateur Lawyering. Anecdote Battles.
Personally I think that India is quite cool; but it would never enter my head in a million years to do business where any Indian official could screw things up. Maybe I am completely wrong but this is the perception of every business person I know including Indians who regularly navigate those dangerous waters.
India regularly complains that they don't get any respect from the western business world who only want to sell their products in India from afar. It makes me wonder what kind of powerhouse India could be if there wasn't this ever present threat that either a corrupt official (at any one of the 10,000 government departments) will demand a bribe, or the ever present threat that a local competitor will use officialdom to shut you out of the Indian market.
If it is this bad for outsiders how terrible is it for Indians who manage to have some success?
Funny how when the US govt. accuses tech companies of avoiding taxes, the tech companies are evil and when India asserts the same thing they are thieves.
This kind of thing is outright theft so let's hope others start to think twice before outsourcing to India.
But then who will answer all my technical support questions?
Have you tried turning off and back on again?
...the real reason this got cleared is that MS assured the Indian government that all Nokia phones in India would have a backdoor accessible by the Indian government, like they demanded from BlackBerry?
If it is this bad for outsiders how terrible is it for Indians who manage to have some success?
I don't think you have any idea about India, except some anecdotal tales from "businessmen who were treading dangerous waters".
I am yet to see Indians complaining of lack of respect from Western business world. I don't know what you are talking about...did an Indian say, "please white brother, please respect us".
There are enough Indian companies in various verticals thriving in India. The corruption you are talking about exists in different forms all over the world. In the most business friendly country - US - it will be lobbying groups buying access and may be lawmakers and laws themselves. The corruption which exists in India is of the same character...no need to vilify this country with an extra dose of scorn. And a small country like Canada (you guys have the population of my home state, Kerala, and I know about your country, I was a landed immigrant in Canada who got bored of your country and returned to India) or Scandinavian nations does not make a valid comparison. If you compare Canada with Kerala it may make sense...Kerala has 100% literacy and is relatively non corrupt. If the state was a country, we would be up in Transparency Index rankings.
Judiciary is relatively non-corrupt in India. It was the Delhi High Court which lifted the freeze of assets. A commentator made a sarcastic note "someone was bribed". I don't think so. No one with some common sense will try to bribe a Delhi High Court judge, there is no need in this case and it can backfire spectacularly.
Tat Tvam Asi