Sahara
Once Sahara India was a profit making company and was an apple in the eyes of the investors. And today unfortunately the company’s chief is in the Tihar Jail since March and trying hard to sell off its Indian and International properties to pay for the bail. Four months after it sold its 104-acre land [...] Continue Reading »
The race to gain the Sahara Group’s luxury hotels in London and in New York is gathering to steam as a new bidder has joined the race. The Madison Capital Holdings LLC has offered to the buy The Plaza and Dream Downtown properties located in New York for a price of $800 million. These hotels [...] Continue Reading »
The Apex court on Tuesday refused to release Sahara chief Subrata Roy on bail or parole. Earlier it was sought at the Supreme Court (SC) by the lawyers defending Roy that he should be released on parole for 40 days so that he can sell the overseas properties in London and New York and pay [...] Continue Reading »
Subrata Roy and the two Sahara directors are in the prison for over four months now, and are waiting for the Supreme Court (SC) to declare its verdict soon. The Sahara versus SEBI (Securities and Exchange Board of India) case has reached a crucial stage because the Supreme Court is likely to decide shortly on lifting [...] Continue Reading »
Subrata Roy has been in Delhi’s Tihar Jail since March 4, has withdrawn proposal for modifying his bail conditions. Sahara had earlier last week, expressed its inability to pay Rs. 5,000 upfront for bail but proposed to pay Rs. 2,500 upfront and Rs. 2,500 three weeks after Subrata’s release. On March 26, the Supreme Court [...] Continue Reading »
Secretary, Civil Aviation, Ashok Lavasa, said on Thursday that on the recommendations of the Election Commission, the modernisation of Chennai, Kolkata and four other airports has been put on hold. The Commission has asked us to put it (airport modernisation) on hold till the process of elections is over. The date for submission of bids [...] Continue Reading »
The Securities and Exchange Board of India (SEBI) told the Supreme Court that the Sahara firm had no right to mobilise Rs.27,000 crore from 30 million investors through debentures without adhering to the regulatory regime. The firm raised money without complying with the regulatory regime of the stock market and listing on the bourses, said [...] Continue Reading »
