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The Delhi High Court will next week hear Nayara Energy's lawsuit against German software company SAP's India unit suspending software services critical to its operations. Nayara had approached the Delhi High Court in September last year after SAP India Pvt Ltd suspended services citing European Union sanctions. The Court, which had denied urgent relief, is scheduled to hear the petition on March 16, people aware of the matter said. The European Union (EU) had last year imposed sanctions on Nayara for its ties to Russia and for refining Russian oil. Nayara Energy argued before the Court that its agreement is with SAP India, an Indian entity, and therefore, not subject to the EU sanctions. However, SAP India contended that its parent company is based in Germany and it cannot provide its services without their support. This, it argued, is an "extraterritorial application of law" threatening Indian energy security, as they produce a significant portion of India's petroleum. Such a mov
The revenue from software exports by the IT and IT enabled services companies of the Kerala government-owned Technopark has reached Rs 13,255 crore for the Financial Year (FY) 2023-24, marking a 14 per cent growth compared to last year, the IT hub authorities said on Saturday. The software export revenue of Technopark for the FY 2022-23 was Rs 11,630 crore. "The revenue from software exports by the IT/ITEs companies of Technopark has clocked Rs 13,255 crore for the Financial Year (FY) 2023-24, marking a 14 per cent growth compared to last year," Technopark said in a release. The premier IT hub of the country, which covers a total area of 768.63 acres with 12.72 million sqft built up space, houses as many as 490 companies, providing 75,000 direct jobs and two lakh plus indirect jobs. Col Sanjeev Nair (Retd), CEO, Technopark, said the stellar performance tells a growth story of the vibrant IT ecosystem in Kerala and the business vision and professionalism of the in-house companies.