The State government backs Nokia’s proposal that the Centre unfreeze the Sriperumpudur property for its sale.
As per the proposal, the proceeds will be deposited in an escrow account. As the government feels it reasonable, it supports the plan, an official says.
The plan will go through if the Income Tax Department accepts it and the Delhi High Court approves it.
The official points out that the ownership of the land remains with the State Industries Promotion Corporation of Tamil Nadu, which has leased it to Nokia.
As for the demand that the State take over the plant, the official says it is not workable as the government has no wherewithal to run the handset-making unit.
