Sahara Group
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 »
A spokesman for the Sultan of Brunei dismissed a report by the Wall Street Journal online that he had made a bid for New York’s Plaza Hotel, Dream Hotel and London’s Grosvenor House hotel. These hotels are owned by Subrata Roy, the jailed chief of the Sahara Group. The Sultan of Brunei is one of [...] Continue Reading »
There is some good news for the debt laden Sahara group. Its chief Subrata Roy and other top officials are in the Tihar jail since March and the Supreme Court had allowed Roy to set up a tech savvy office within the premises of Tihar jail where he could hold meetings with the proposed buyers. [...] Continue Reading »
From the 5th of August till the following 10 days the Delhi’s Tihar jail will have the sort of visitors who generally find them working in very different circumstances. All these visitors will be coming to see Sahara chief Subrata Roy who has been trying to raise the Rs 10,000 crore that would allow him [...] 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 »
Sahara group had pleaded the Supreme Court (SC) to release its founder Subrata Roy for at least 40 days to help the group sell assets to raise Rs.10,000 crore. However the Supreme Court on Friday reserved its order and it seems now Roy might have to spend more time in the jail as this money [...] Continue Reading »
Once profitable Sahara group is now at the verge of bankruptcy and is looking at the means to raise funds to pay for the bail of their chief. Sahara chief Subrata Roy on Thursday requested the Supreme Court (SC) to allow him parole for, at least, 40 days to sell his properties to raise Rs [...] Continue Reading »
The Sahara Group has struck a Rs 464 crore sales deal with an Ahmedabad-based developers – H N Safal and Goyal & Co – for approximately 4.21 lakh square metres of land belonging to the ‘Sahara City’ residential scheme in the city. The sale of the ‘Sahara City’ residential project in Ahmedabad is a move [...] Continue Reading »
There might be some good news for Subrata Roy and the Sahara group tomorrow when the SC verdict will be pronounced. The Supreme Court (SC) is speculating the situation and considering the plea of jailed Sahara Group chief Subrata Roy who is seeking a modification of an earlier order. The SC had asked him to [...] Continue Reading »
Indian and international luxury hotel chains are apparently open to management deals to avoid getting into a debt trap. Highlighting the hospitality majors’ apparent preference for a contract route to limit debt exposure, Raymond Bickson – Managing Director of Indian Hotels Company – said that his company is ready to take over the management of [...] Continue Reading »
