Subrata Roy
On Monday, September 8, a reprieve of 15 more working days was granted by the Supreme Court to the jailed Sahara chief, Subrata Roy. With Roy required to raise an amount of Rs. 10,000 crore to secure his bail, the reprieve has been granted by the SC to give him the time to seal the [...] Continue Reading »
There’s never quite been a sale like this before: three iconic hotel properties in New York and London being sold from inside Delhi’s Tihar Jail, known for having housed some of India’s most notorious criminals, and now Sahara Group chairman Subrata Roy. His release on bail depends on how fast he can strike a deal [...] 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 »
Indian business tycoon Subrata Roy who is the chief of Sahara India is in the Tihar jail for the last couple of months. The good news is that the court had allowed him to work from a high-tech office in the prison, and initiate deals with the international buyers online using skype and other mediums. Roy [...] Continue Reading »
The Supreme Court on Wednesday stated that the Sahara Group and Delhi’s Tihar jail authorities should work out a ‘viable’ proposal so that it can enable the jailed Sahara chief Subrata Roy to step out of the lock up for facilitating business negotiations with the potential buyers of his luxury hotels in New York and [...] 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 »
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 »
Market regulator Securities and Exchange Board of India (SEBI) was today asked by the Supreme Court to come up with safeguards to verify the transparency in the sale of properties of the Sahara Group to raise the amount for the release of its chairman Subrata Roy, who has been in Tihar Jail since March 4th. [...] Continue Reading »
