All problems to be resolved in 2020; two foreign investors roped in for realty, city development business: Sahara chief Subrata Roy
Roy said Sahara has huge land parcels but developing townships or colonies on them has been difficult due to lack of funds for internal infrastructural development.
SEBI tells Sahara India Commercial Corp to refund over Rs 14,000 cr raised via OFCDs with 15% interest to investors
SEBI found that Sahara India Commercial Corporation (SICCL) had made an offer of OFCDs in financial years 1998-2009 and raised an amount of at least Rs 14,106 crore from 1,98,39,939 investors.
The way out will be to release Roy from jail after impounding his passport and simultaneously appoint a receiver for sale of assets
The Supreme Court has sent Subrata roy of Sahara to prison for not paying up the dues of his OFCD holders to Sebi. But it is forgetting the bigger question: whose money was it anyway?
Corporate defiance at a time when all institutions - from regulators to courts - are trying to re-establish their credibility is what has laid Vijay Mallya and Subrata Roy low. <br />
The unreal world of Subrata Roy and the Sahara Group was nowhere more evident than in his statements in the Supreme Court yesterday
Subrata Roy's two companies claimed they had over 2.96 crore investors but this is simply incredible
The group further said that Sebi has been given all original payment vouchers, receipts and all other documents containing all details of esteemed investors in more than 100 truck loads.
The Sahara Group, which is yet to comply with a SC order to refund Rs 24,000-and-odd crore to investors, is trying to overawe a journalist with a defamation case
The Supreme Court has given the Sahara Group too long a rope. The Saharas have successful stalled compliance with an order of August last year till now
Subrata Roy has a point when he says Sebi should have given priority to returning his investors money, but what if many of his investors are non-existent?
Not only has Sahara not paid the full amount to Sebi, but its data is now looking increasingly shady - giving rise to the suspicion that many of the investors may be figments of the imagination.
The litigation in the Sahara case looks likely to prolong further as the Supreme Court gives the group more time to repay investors
A Sahara ad splurge in the media indirectly confirms that the firm has repaid many of its OFCD investors without routing it through Sebi
More reports are coming in that the Sahara Group is pressuring investors to roll the money in OFCDs to other schemes - in contravention of Sebi/SC orders
The Sahara Group's elaborate ruse to avoid Sebi scrutiny of its dubious OFCD scheme has finally been shot down by the Supreme Court
The Sahara Group, in an affidavit filed with the court on 4 January, has disclosed a complex web of over 200 companies, in some of which the group invested public money raised through OFCDs.
The Sahara Group, which has been asked to return over Rs 17,000 cr by Sebi, may have to disclose where it has parked the booty.