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Two foreign firms move SC to buy Sahara's overseas hotels

Aug 14, 2015

Two foreign firms move SC to buy Sahara's overseas hotels

Two private firms on Friday moved the Supreme Court expressing their willingness to buy Sahara Group's three overseas hotels, Grosvenor House Hotel in London, the New York Plaza and Dream New York hotels, which will help raise money for release of Subrata Roy from jail. #NewsTracker #SEBI #Subrata Roy #Sahara #Sahara Hotels
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
Another blow: Sebi says Sahara Mutual Fund not 'fit and proper', cancels licence

Jul 29, 2015

Another blow: Sebi says Sahara Mutual Fund not 'fit and proper', cancels licence

In a fresh crackdown on Saharas, regulator Sebi today cancelled the registration of Sahara Mutual Fund. #Business #India #NewsTracker #SEBI #Sahara #mutual fund licence
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