&w=3840&q=100)
Nayara Energy sues Microsoft over EU sanctions-linked service suspension
In its petition, Nayara — which operates India's largest single-location refinery in Vadinar, Gujarat — is seeking an interim injunction and restoration of services, arguing that Microsoft's move jeopardises its access to proprietary tools, data, and infrastructure essential to its operations.
Microsoft declined to comment.
In a statement, Nayara said that while the sanctions originate exclusively from the EU, Microsoft — a US-headquartered corporation — has chosen to withdraw services from Nayara Energy without any legal requirement to do so under US or Indian law. 'This action has been taken unilaterally, without prior notice, consultation or recourse, and under the guise of compliance. Such moves signal a worrying trend of global corporations extending foreign legal frameworks into jurisdictions where they have no applicability,' the statement said.
'Despite these external challenges that Nayara Energy is currently facing, we remain fully committed to ensuring uninterrupted service and supply to India's energy demands,' the company said, adding that Nayara's mission, 'In India, for India,' drives its operations.
Nayara primarily caters to the domestic market through India's largest private fuel retail network, institutional sales, and partnerships with other oil marketing companies (OMCs). The company is also investing in petrochemicals and clean energy, creating thousands of direct and indirect employment opportunities across India.
'All of Nayara Energy's operations are fully compliant with Indian laws and regulations, and the company remains in regular engagement with Indian authorities to ensure transparency and accountability,' it said.
The company reiterated that Microsoft's action was taken without prior notice, consultation, or legal mandate, and labelled the move a case of corporate overreach.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India.com
10 minutes ago
- India.com
US-India ties to worsen further?, Trump warns Indians over THIS issue: 'Respect the terms of...'
US-India ties to worsen further?, Trump warns Indians over THIS issue: 'Respect the terms of...' US-India ties: Issuing a stern warning to visa holders from India, the Donald Trump administration has issued a stern warning about the over staying in the United States. It also made clear that any violation could lead to visa revocation and possible deportation. This may further deteriorate both countries ties amid the tariff war. In a post on X the US Embassy said, 'Respect the terms of your US visa and your authorized period of stay in the United States. Remaining in the United States past your I-94 'Admit Until Date' can lead to severe consequences such as visa revocation, possible deportation, and ineligibility for future visas. Overstaying may permanently affect your ability to travel, study, or work in the United States.' What the Congress said? Marjorie Taylor Greene, Congresswoman from Georgia's 14th District in a post on X said, 'End Indian H1-B visas replacing American jobs instead and stop funding and sending weapons to the Obama/Biden/Neocon Ukraine Russia war.' Her remarks came while referring to the latest statement by US President Donald Trump, who on Monday said that the United States will 'substantially raise' the tariff paid by India for buying 'massive amounts of Russian Oil', stating that much of the oil purchased from Moscow is being sold in the open market 'for big profits'. Trump wrote on Truth Social, 'India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits. They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA. Thank you for your attention to this matter!!!' What US said about India purchasing Russian Oil? India has defended its sovereign right to conduct energy policy based on national interest. The Ministry of External Affairs (MEA) on Monday came out strongly in defence of the country's decision to import oil from Russia, despite criticism from the United States and European Union. According to the MEA, India's imports from Russia are driven by necessity and aimed at ensuring predictable and affordable energy costs for Indian consumers. The MEA described the criticism of India's trade policy as 'unjustified and unreasonable,' asserting that India will take necessary measures to safeguard its national interests and economic security.
India.com
10 minutes ago
- India.com
In just Rs 40,000! This banker is encouraging Indian businessman to…, says Mukesh Ambani, Bill Gates, Barack Obama all have done it and you should too
Investment banker Sarthak Ahuja is encouraging Indian business owners who want to grow internationally to look towards Estonia, a small country in Europe. In a viral LinkedIn post, he shared that for less than Rs. 60,000 and just four hours online, anyone can open a European company and become an e-resident of Estonia and this is all without leaving India. Ahuja wrote, 'Mukesh Ambani, Bill Gates, and Barack Obama have all taken e-residency of a European country,' highlighting Estonia's open and modern digital economy. 'Anyone who wishes to do business in Europe or build a tech company anywhere in the world must consider setting up a company in Estonia…The company can be set up all online within 4 hours, in less than Rs 60k sitting anywhere in the world…In addition, the country makes you an e-resident of Estonia and gives you an e-residency card which you can pick up from the Estonia embassy in India itself…,' he further said. About Estonia's e-residency program Estonia's e-residency program started in 2014. It allows people from anywhere in the world to start and run a company online, with the benefit of being trusted as a European Union business. For Indians, e-residency costs less than Rs. 40,000 and comes with benefits like no corporate tax on profits you keep in the company, easy business setup, and access to European markets. According to Ahuja, the entire process is online and can be done quickly. Once approved, the e-residency card can be picked up from the Estonian embassy in India. The financial benefits of starting a business in Estonia are very appealing. There's no corporate tax on profits as long as the money is kept inside the company. A flat 20 per cent tax is charged only when you take out profits as dividends, and there's no double taxation. Estonia also keeps things simple: VAT, income tax, and corporate tax are all set at 20 per cent. You only need to register for VAT once your business earns more than €40,000 in revenue, the report further said. But it's not just about low taxes. Estonia offers a fully digital system that makes it very easy for business owners. The country provides free public education, healthcare, and transport, and the internet is considered a basic right. For a country with just over 1 million people, Estonia also has strong access to venture capital funding, making it a great place for startups. Estonia's tech scene is booming. The country already has 12 unicorns (startups valued at over $1 billion), and more than 2,000 tech entrepreneurs from around the world have become e-residents, building European businesses without having to move there.
Mint
10 minutes ago
- Mint
₹5 to ₹17,500 crore: Father's lesson that built a billion-dollar company, entrepreneur says, ‘Best trade-off I made'
'My dad was a doctor who charged ₹ 5 per consultation. Not because he didn't know better. But because that was the kind of man he chose to be.' Ashish Singhal, co-founder of CoinSwitch, shared how his father charged just ₹ 5 per medical consultation to help people. It taught Ashish about value. 'That was my first lesson in value: real value isn't what you take, it's what you build,' Singhal wrote on LinkedIn. Ashish said he had avoided luxury in his 20s. He didn't go on holidays, cycled to work, met friends only once a week and saved as much as possible. Friends thought he was wasting his youth, but he had bigger goals. After working two years at Amazon, he saved ₹ 25 lakh, gave ₹ 20 lakh to his parents and used ₹ 5 lakh to start a business that failed. Still, he didn't stop. Then, he built CoinSwitch with his friends, Govind Soni and Vimal Sagar Tiwari. CoinSwitch is an Indian cryptocurrency exchange. It is now valued at around $2 billion ( ₹ 17.5 thousand crore). 'Most people treat their 20s as a time to consume. I treated mine as a rare window to accumulate,' Ashish Singhal wrote. 'You don't rise by spending what you have. You rise by building what you don't. Best trade-off I ever made,' he concluded. LinkedIn users loved his post and responded generously. ''You only live once' is a genius and evil marketing tactic by businesses that is ruining the lives of people in their 20s. Living in the moment does not mean being thoughtless, and it certainly does not mean ruining your future,' wrote one of them. 'This post says so much between the lines. You didn't just build CoinSwitch — you became someone who could. That shift — from consuming to creating, from comfort to conviction — is what most people skip over when they tell their story,' came from another. Another LinkedIn user commented, 'The line about building vs spending is gold. Many are in a rush to live their best life in their 20s. You chose to build the life you want in your 30s. Huge difference.'
