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Sahara case: Supreme Court says Subrata Roy in jail by choice; may appoint receiver for asset sale

Aug 04, 2015

Sahara case: Supreme Court says Subrata Roy in jail by choice; may appoint receiver for asset sale

The court had declined to relax the conditions for interim bail of Roy like depositing Rs 5,000 crore in cash and a bank guarantee of equal amount and tough terms including payment of the entire Rs 36,000 crore in 18 months. #Sahara Group #NewsTracker #Supreme Court #Kapil Sibal #Subrata Roy #Gorakhpur Real Estate Developers Private Limited #Samriddhi Developers
Sahara auction: Real estate firms slug it out at SC to buy company's plot in Gorakhpur

Jul 13, 2015

Sahara auction: Real estate firms slug it out at SC to buy company's plot in Gorakhpur

The bidding started when the lawyer of Samriddhi developers agreed to match the Rs110 crore offer made by Gorakhpur Real Estate Developers Private Limited. #Sahara Group #NewsTracker #Supreme Court #Subrata Roy #Real estate #Gorakhpur Real Estate Developers Private Limited #Samriddhi Developers #SEBI-Sahara account
Can't pay? SC can call Subrata Roy's bluff by appointing a liquidator

Jul 08, 2015

Can't pay? SC can call Subrata Roy's bluff by appointing a liquidator

The way to call the bluff is simple: once Rs 10,000 crore is arranged, the Supreme Court should put the rest of Sahara's assets under a court-appointed liquidator, whose nod would be required for actually selling any property. Once the dues are recovered, the remaining property can be released to Roy. #Sahara Group #Subrata Roy #OFCD #TS Thakur
Sahara tells SC it cannot repay Rs 36,000 cr investor money in 18 months

Jul 08, 2015

Sahara tells SC it cannot repay Rs 36,000 cr investor money in 18 months

The apex court had 19 June given Sahara's two companies - SIRECL and SHFCL - 18 months to repay the investors' money which they had collected in 2007-08 through OFCDs. #Business #Sahara Group #Supreme Court #Kapil Sibal #CompanyWatch #Subrata Roy
SC asks realty firms willing to buy Sahara's asset to show bonafides

Jul 07, 2015

SC asks realty firms willing to buy Sahara's asset to show bonafides

A bench comprising justices TS Thakur, AR Dave and AK Sikri asked one of the firms, Gorakhpur Real Estate Developers Private Limited which intends to purchase Sahara group's land properties in Rs 110 crore, to deposit Rs 11 crore by tomorrow to establish its bonafides. #Sahara Group #NewsTracker #Supreme Court #Kapil Sibal #Subrata Roy #Real estate #Gorakhpur Real Estate Developers Private Limited #Samriddhi Developers
Sahara group says it will defend lawsuit on US hotels sale

Jun 25, 2015

Sahara group says it will defend lawsuit on US hotels sale

Last week, the Supreme Court of India set out conditions for release of Sahara chief Subrata Roy and two other executives from the jail and asked the group to make a total payment of Rs 36,000 crore in 18 months. #Business #Sahara Group #Supreme Court #Subrata Roy #UBS #Grosvenor House #plaza #dream downtown #Reuben brothers #JTS Trading Ltd #Trinity White City Ventures
Kingfisher redux? Sahara employee commits suicide after not getting pay for 4 months

Mar 25, 2015

Kingfisher redux? Sahara employee commits suicide after not getting pay for 4 months

Saharas long-drawn dispute with regulator Sebi over investor repayments has begun to take its toll on the groups employees as a deputy manager with Sahara India Co-operative Society who did not get his salary for four months committed suicide by jumping from the eighth floor of his office building on Tuesday. #Sahara Group #Kingfisher Airlines #Tihar jail #Subrata Roy
US-based Mirach files $400 mn defamation suit against Sahara

Mar 17, 2015

US-based Mirach files $400 mn defamation suit against Sahara

US-based Mirach Capital today said it is initiating a $400 million defamation lawsuit againstthe Sahara group, while alleging that the failed financing deal with the Indian conglomerate has caused "irreparable harm" and "shaken investor confidence". #Sahara Group #Supreme Court #Subrata Roy #Sahara #Mirach Group
Sahara puts London-based Grosvenor House on sale, may fetch Rs 5,000 cr

Mar 03, 2015

Sahara puts London-based Grosvenor House on sale, may fetch Rs 5,000 cr

Grosvenor House, a landmark property on Park Lane here, is one of the three marquee hotels owned by Sahara outside India, the other two being Plaza and Dream Downtown in New York. #Sahara Group #CompanyWatch #Subrata Roy #Deloitte #Jones Lang LaSalle #Grosvenor House #dream downtown #The Plaza