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A few days after the income tax department told the court that an offer made by a potential buyer for the <keyword id="6354716" type="CITY" weightage="20" keywordseo="Nokia">Nokia</keyword> plant was too little, the <keyword id="6355014" type="ORGANIZATION" weightage="20" keywordseo="Delhi-High-Court">Delhi High Court</keyword> has intervened to resolve the issue. As per a news report by The Economic Times, consulting firm <keyword id="1919178" type="UNKNOWN" weightage="20" keywordseo="EY-India">EY India</keyword> has been directed to value Nokia's manufacturing plant in Chennai within two months. 
 As reported by the ET, Justices BD Ahmed and <keyword id="342753" type="PERSON" weightage="20" keywordseo="Sanjeev-Sachdeva">Sanjeev Sachdeva</keyword> said EY India should assess the plant on an 'on-going and non-going' basis, implying that the factory would be valued as both operational and non-operational. 
 
The order comes a few days after the income tax department told the court that an offer made by a potential buyer for the Nokia plant was too little. The two-judge bench will hear the matter next on September 7. 
 Nokia, which sold its handset-making business unit to <keyword id="10387" type="CITY" weightage="20" keywordseo="Microsoft">Microsoft</keyword> in April last year, left the Chennai plant out of the deal after the authorities attached it in a multi-crore rupee tax case. 
 
"We are currently analysing the High Court order and cannot comment further until that work is done. Our overall focus continues to be what we've said for some time now: finding a way to get the asset freeze lifted so we can explore potential opportunities for a sale to a suitable buyer," a Nokia spokesperson told the financial daily. 
The ET had reported previously that the Essar Group was interested in the Chennai plant and had valued it atRs 350 crore-450 crore. Essar Group chairman Shashikant Ruia recently confirmed that the group was evaluating the Nokia factory. 
 
The IT department said the offer made the buyer was very low, even as the court sought the basis of the department's claim. The department had told the court at previous hearings that Nokia's tax liabilities could be about Rs 10,000 crore for a single year and the company had not provided a guarantee to meet its tax liabilities. 
 
(Image: Reuters)

EY roped in to figure out the
true value of Nokia’s Tamil Nadu plant

The <keyword id="6354751" type="COMPANY" weightage="80" keywordseo="Income-Tax">Income Tax</keyword> department today told the <keyword id="6355014" type="ORGANIZATION" weightage="80" keywordseo="Delhi-High-Court">Delhi High Court</keyword> that the amount offered by an "arm's length buyer" for <keyword id="107835" type="CITY" weightage="80" keywordseo="Nokia-India">Nokia India</keyword>'s Chennai mobile making plant, frozen over an alleged Rs 10,000 crore tax dispute, is "very little". 
 
 The submission was made by the IT department before a bench of justices Badar Durrez Ahmed and <keyword id="342753" type="PERSON" weightage="80" keywordseo="Sanjeev-Sachdeva">Sanjeev Sachdeva</keyword> while seeking an urgent hearing of a plea filed by <keyword id="6354716" type="CITY" weightage="80" keywordseo="Nokia">Nokia</keyword> which has sought permission to sell the assets as it had found a prospective buyer. 
 
 
The department mentioned the matter before the bench for an early hearing as it could not be taken up yesterday. 
 
The court, however, refused to hear it today and told the department to file an application if it wants the matter to be heard before the next date of hearing on September 7. 
 
 
It also asked the department on what basis it was claiming the amount offered for Nokia's Chennai plant was very little. 
 
An arm's length transaction is the one in which the buyer and seller of a product act independently and have no relationship to each other to ensure that they act according to their self-interest and are not influenced by the other party. 
 
 
Nokia on April 17 had submitted before the court and IT department the name of the prospective buyer and the offer made in a sealed cover. 
 
The court had on that date asked the department to examine if the offer was acceptable and if not, then it should consider appointing an independent valuer to carry out valuation of the plant and related assets. 
 
 
Another alternative the court had suggested was to put up the assets for auction, by making the amount offered as a reserve price, saying "ultimately we have to maximize the price". 
 
The department today told the court that the offer amount is very little and if the unit and related assets were sold, it would be difficult to recover the tax amount which it has tentatively placed at Rs 10,000 crore. 
 
 
According to the IT department, the amount is for only one assessment year and there are other assessment years. 
 
It had earlier told the court that as per previous orders, Nokia or its parent company in Finland had to secure the department up to an amount of Rs 3,500 crore, but the same has not been done yet.

No takers for Nokia's Tamil Nadu plant?

Nine people were arrested from <keyword id="11900977" type="General" weightage="100" keywordseo="gurugram" source="Orion">Gurugram</keyword> for allegedly duping US citizens by posing as officials of the US government, police said. The accused operated from seventh floor of the JMD Megapolis building in Sector 48. They lured US citizens with promises of grants of 9,000 to 34,000 dollars and used to charge $200 to $ 1,600 as service charges which were later on encashed via online trading platforms. The police arrested accused on Tuesday night and recovered Rs 1.50 lakh, three laptops and four CPUs from their possession. The accused also paid Rs 85,000 per month as floor rent for six months. Of those arrested, two have been identified as Satender alias Sam, Ankish Sachdeva, the operators of the call centre. According to the police, a team led by DSP Inderjeet Singh Yadav of CM flying wing and ACP and Sadar Sanjeev Balhara raided the call centre. "The call centre did not have any license issued by the Department of Telecommunications (DOT)," Yadav said. "The accused operator disclosed that earlier they had opened a call centre in Gurugram but it got closed due to Covid. The police have also recovered five pages script which was provided by the call centre operator to employees to communicate with US nationals," the DSP said. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/how-a-group-of-youtubers-pranked-a-scam-call-centre-in-india-that-earns-18-million-per-year/articleshow/91463331.cms">Here's how a group of YouTubers pranked a scam call centre in India that makes $18 million per year</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-smartphone-batteries-are-reportedly-swelling-up/articleshow/94498157.cms">Samsung’s phone batteries are reportedly swelling up – here’s everything you need to know</a> <a href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-best-deals-and-offers/articleshow/94004700.cms">The best Amazon Great Indian Festival deals and offers</a>

Fake call center duping US citizens busted in Gurugram, nine arrested

The <keyword id="6355014" type="COMPANY" weightage="20" keywordseo="delhi-high-court">Delhi High Court</keyword> on Monday granted more time to the Centre to file the status report in a petition seeking direction for an injunction against the updated privacy policy by WhatsApp. Notably, WhatsApp had asked users to either give their consent to sharing data with Facebook or lose their accounts after February 8. The policy was, however, put on hold till May 15 due to a massive backlash by the users. The petition filed by <keyword id="6360668" type="PERSON" weightage="20" keywordseo="advocate">Advocate</keyword> Chaitanya Rohilla has claimed that the new policy violates the Right to Privacy guaranteed under the Constitution and gives a 360-degree profile into a person's online activity without any government oversight. During the course of <keyword id="6394153" type="UNKNOWN" weightage="20" keywordseo="Proceedings">proceedings</keyword>, Justice Sanjeev Sachdeva granted the government more time and adjourned the matter to April 19. The court refused to issue notice to the respondents in the matter. In a similar matter related to the new privacy policy, Chief Justice D.N. Patel had issued notice to the <keyword id="3428254" type="COMPANY" weightage="20" keywordseo="ministry-of-electronics-and-information-technology">Ministry of Electronics and Information Technology</keyword>. The matter will come up for hearing on March 15. In a hearing on January 25, Justice Sanjeev Sachdeva emphasized that downloading the application is not mandatory and a person can choose not to download it. "It is voluntary. If you do not want to, you can choose not to. It is not mandatory for you to download it," a single-judge Bench of Justice Sanjeev Sachdeva said, reiterating his stand from an earlier proceeding. Prior to that, the judge had remarked that if a person feels that WhatsApp will compromise data, they must delete it. "It is a private app. Do not join it. What is your grievance? I cannot understand your concern." SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/ratan-tata-is-reportedly-exiting-lenskart-with-returns-of-28-times-the-investment/articleshow/81268916.cms">Ratan Tata is exiting Lenskart with returns of almost five times the investment</a> <a href="https://www.businessinsider.in/finance/news/explained-the-nue-licence-for-payments-that-tata-ambani-and-bezos-have-applied-for/articleshow/81268434.cms">EXPLAINED: The NUE licence for payments that Tata, Ambani and Bezos have applied for</a> <a href="https://www.businessinsider.in/tech/news/elon-musks-starlink-satellite-internet-is-coming-to-india-heres-how-you-can-pre-book-your-connection/articleshow/81268052.cms">Elon Musk's Starlink satellite internet is coming to India – here's how you can pre-book your connection</a> <a href="https://www.businessinsider.in/business/news/elon-musk-and-reliance-industries-mukesh-ambani-compete-in-energy-storage-skytran-and-hyperloop/articleshow/81266903.cms">Elon Musk is facing a challenge from Asia’s richest man Mukesh Ambani in India⁠— both in energy and transportation</a>

WhatsApp privacy policy — Indian government gets four more weeks to file its response to plea challenging update

New Delhi, Apr 3 () The Delhi High Court Friday restrained a private credit rating company, ICRA Ltd, from making public the credit score of Indiabulls Housing Finance Ltd (IHFL) till April 6.The interim direction by Justice Sanjeev Sachdeva came on a plea to restrain ICRA Ltd from downgrading IHFL's credit score for not providing some information sought by the credit rating company.The court also issued notice to securities regulator SEBI and ICRA seeking their stand on IHFL's plea by April 6, the next date of hearing.Till then the court restrained ICRA "from uploading any decision with regard to the credit rating of the petitioner (IHFL) on its website or giving effect to it".The direction came on IHFL's plea claiming that ICRA was threatening to go ahead with the credit review despite a SEBI advisory of March 30 relaxing compliance with certain norms issued by the regulator.IHFL has claimed that in the prevailing emergent situation "necessary requisite details" sought by ICRA for the credit review could not be provided.The petition also said the Securities and Exchange Board of India (SEBI) had relaxed the time for providing such details in view of the lockdown due to the global coronavirus pandemic.However, ICRA Ltd instead of giving more time to IHFL to provide the details was threatening to go ahead with the credit review and was proposing to downgrade the rating of Indiabulls Housing Finance, the petition has claimed.IHFL has contended that if its credit score is downgraded, then it will have a serious negative impact on its financial standing and there was a likelihood that debenture holders may call for immediate redemption of the debentures. HMP SKV SA

HC restrains ICRA from making public Indiabulls Housing Finance credit score

New Delhi, May 13 () Supreme Court Justice D Y Chandrachud Wednesday said the COVID-19 pandemic has given an opportunity to place the technological infrastructure of the Indian judiciary on a robust basis.He said that soon after the pandemic descended, "we were able to create an infrastructure for launching video conferencing in the Supreme Court, high courts and in over 17,000 courts in the country which is an indicator of what we have been able to achieve." Justice Chandrachud, who is the chairperson of the Supreme Court e-committee, said: "The pandemic has descended on us without any notice but the pandemic has given us an opportunity to place the technological infrastructure of Indian judiciary on a robust basis. The question today is not whether we should adopt technology but how well do we adopt technology."While e-inaugurating the second phase of the Virtual Court project in Delhi via webinar, he said that online payment of traffic violation challans tremendously improved the efficiency of the system.The virtual courts 2.0 project was undertaken by the e-Committee of Supreme Court, IT teams of the Delhi High Court, district courts here and the Delhi Traffic Police, which involves capturing of traffic violations via cameras and the resolution of the challans generated thereafter.As of today, the Delhi traffic police has in position 389 cameras across NCR of Delhi to digitally capture the traffic violations involving over-speeding and red light jumping.During the webinar, he said that since the two virtual courts were inaugurated a while ago, challans of Rs 95,000 have been paid online probably in the last 15 minutes.Justice Chandrachud said the virtual courts have been able to liberate the energies of 20 judges of the Delhi district judiciary who otherwise have been manning the physical courts."So 20 judicial officers who were dedicating their work to these petty offences of traffic violations are now being able to dedicate their time to core judicial work," he said, adding that the Delhi Police can now devote their time to core traffic duties.Justice Chandrachud, who said this is a citizen centric exercise, added that the example of Delhi is being replicated elsewhere in the country and maharashtra is set to go online this Friday with virtual challan courts and Haryana, Tamil Nadu, Kerala, Karnataka, Himachal Pradesh and Uttar Pradesh are on their way.He also informed that various high courts have framed model rules for conducting virtual hearings and have sent it to the Supreme Court and added that "right to know of public and media is crucial in a democracy".Delhi High Court Chief Justice D N Patel, who was part of the programme, said the initiative has been successful as the virtual court has disposed of 7,30,789 challans as on May 7, resulting in the online collection of fine amounting to Rs 89,41,67,812.He said the second model will have camera clippings of the violation and if anyone has any issue, they can point it out to the court and virtual courts will benefit people as no one has time to go to courts.Supreme Court Judges- Justices S K Kaul, S Ravindra Bhat and Sanjeev Khanna, Delhi High Court judges- Justices Rajiv Shakdher, Sanjeev Sachdeva, Prathiba M Singh and Navin Chawla were also part of the event. Besides them, Delhi Police Commissioner S N Shrivastava was also present.The first virtual court was inaugurated on July 26, 2019 and it deals digitally with 'on-spot traffic challans' generated by the Delhi Traffic Police via the E-Challan application developed by the NIC. SKV SA

COVID-19 gave opportunity to put judiciary's techno infra on robust basis: Justice Chandrachud

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Twenty one people were arrested for <a href="http://www.businessinsider.in/searchresult.cms?query=visa+fraud&amp;sortorder=effectivedate">visa fraud</a> in the US out of which 10 were <a href="http://www.businessinsider.in/searchresult.cms?query=indian+americans&amp;sortorder=effectivedate">Indian-Americans</a>. The US authorities had created a <keyword id="3312886" type="UNKNOWN" weightage="20" keywordseo="fake-university">fake university</keyword> as a part of a sting operation to expose the <keyword id="581841" type="UNKNOWN" weightage="20" keywordseo="visa-scam">visa scam</keyword>. 
 
The federal authorities arrested 21 people in <a href="http://www.businessinsider.in/searchresult.cms?query=new+york&amp;sortorder=effectivedate">New York</a>, New Jersey, <a href="http://www.businessinsider.in/searchresult.cms?query=washington&amp;sortorder=effectivedate">Washington</a> and Virginia. 
 
According to reports, majority of students who received necessary visa and permits for US during the sting operation who reportedly paid huge sums of money were from India. 
 
"These defendants arranged to obtain visas by having individuals enroll in a fake university. Unfortunately for them, that fake university was run by undercover agents of the Department of Homeland Security," Paul J Fishman, US Attorney for New Jersey, told reporters. 
 
The arrested people were brokers, recruiters and employers who unlawfully and fraudulently obtained or attempted to obtain student visas and foreign worker visas for approximately 1,000 foreign nationals from 26 countries. 
 
Officials, however, did not give the number of Indian students who were trapped by this year-long sting operation done by immigration and law enforcement authorities. 
 
While the US Government did not reveal the nationality of the arrested people, names released by authorities indicate that 10 of them are either Indians or of Indian-origin. 
 
Those name include: Tajesh Kodali, Jyoti Patel, Shahjadi M Parvin, Narendra Singh Plaha, Sanjeev Sukhija, Harpreet Sachdeva, Avinash Shankar, Karthik Nimmala, Govardhan Dyavarashetty and Syed Qasim Abbas.

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EY roped in to figure out the true value of Nokia’s Tamil Nadu plant

BI India Bureau

No takers for Nokia's Tamil Nadu plant?

BI India Bureau

Fake call center duping US citizens busted in Gurugram, nine arrested

IANS

WhatsApp privacy policy — Indian government gets four more weeks to file its response to plea challenging update

IANS

HC restrains ICRA from making public Indiabulls Housing Finance credit score

PTI

COVID-19 gave opportunity to put judiciary's techno infra on robust basis: Justice Chandrachud

PTI

Checkout BJP and AAP candidates fighting from your constituency

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10 Indian-Americans arrested for visa fraud in US during a sting operation

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