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Cayman Islands Court OKs Disclosure In $1.5B Award Fight

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Cayman Islands Court OKs Disclosure In $1.5B Award Fight
Law360 (May 11, 2021, 7:13 PM EDT) A Cayman Islands appeals court has affirmed an order directing the principal holding company for Indian conglomerate Essar Group to disclose information and documents relating to the assets of an Essar unit that owes U.S. steel company ArcelorMittal more than $1.5 billion under a 2017 arbitral award.
A three-judge panel for the Court of Appeal of the Cayman Islands on May 3 rejected arguments put forward by Essar Global Fund Ltd. and its subsidiary, Essar Capital Ltd., that the order was improper.
ArcelorMittal filed its petition in early 2019, claiming that assets were being stripped from Essar Steel Ltd. in an. ....

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Essar Selects Yotta Infrastructure as their Digital Transformation Partner

Technuter
Yotta Infrastructure announced that Essar Capital Ltd., having investments worth around USD 14 billion, has undertaken a large-scale digital transformation initiative by consolidating their various on-premise datacenters into Yotta’s state-of-the-art Yotta NM1 datacenter at Panvel, Navi Mumbai. This move was prompted by growing demand of IT enabled services and new technologies by various Essar companies. To remain focused on supporting business innovation instead of managing datacenters, the Essar IT team awarded a contract for end-to-end managed co-location services to Yotta Infrastructure.
The contract was awarded after a thorough evaluation of all options available in the market – a process that spanned across a year. Yotta NM1 (world’s 2nd largest Uptime Tier IV datacenter) now hosts 100+ applications of the EGFL (Essar Global Fund Ltd.), including collaboration tools, communication applications, SAP ERP, HR-related applications, and multiple engineeri ....

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Industry leaders hail Union Budget 2021 for being pro-infrastructure and investment Budget

Highlights
Budget went paperless this time.
Budget session will be held in two phases Jan 29 to Feb 15 and March 8 to April 8.
New Delhi: Finance Minister Nirmala Sitharaman announced the Union Budget 2021 on Monday (February 1) that outlined a slew of measures to pull the economy out of the pandemic-induced slump.
Industry leaders hailed the Union Budget 2021 for being pro-infrastructure and investment Budget.
Dinesh Kumar Khara, Chairman, SBI said, “The Union Budget has unveiled a set of well-crafted and robust policies that encompasses the vision of an Atmanirbhar Bharat. The Budget has rightly envisaged a substantial jump in capital expenditure that has a strong multiplier impact on the economy. ....

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