Thomson Reuters | Monday August 3, 2015
The Supreme Court on Monday asked the Securities and Exchange Board of India (Sebi) to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds.
Press Trust of India | Tuesday July 28, 2015
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi ever since the regulator ordered refund of a massive amount of over Rs 24,000 crore by two Sahara entities. Recently, Sebi had also cancelled the Portfolio Management licence of a Sahara firm.
Press Trust of India | Sunday July 19, 2015
Sahara, on its part, has told court that it has been wrongly dragged into the dispute between two entities over "a potential business relationship gone sour".
India News | Press Trust of India | Sunday July 12, 2015
Slapped with a $350 million lawsuit seeking attachment of its two prized hotels here, crisis-ridden Sahara has told a US court in New York that it has been wrongly dragged into a dispute between two entities over "a potential business relationship gone sour".
Press Trust of India | Sunday July 12, 2015
Slapped with a $350-million (Rs 2,200 crore) lawsuit seeking attachment of its two prized hotels here, crisis-ridden Sahara has told a US court here that it has been wrongly dragged into a dispute between two entities over "a potential business relationship gone sour".
India News | Indo-Asian News Service | Thursday June 18, 2015
The Supreme Court is likely to pronounce, on Friday, the verdict that will decide the fate of Sahara chief Subrata Roy and two group directors who are in jail since March 4 last year for not complying with the court's order to return investors' Rs.24,000 crores that two group companies SIRECL and SHFCL had collected in 2007-08.
Monday May 25, 2015
The Delhi High Court on Monday extended till July 2 trial court proceedings against Sahara chief Subrata Roy, now lodged in Tihar Jail, in an income tax case for allegedly not filing returns for a group company for assessment year 2013-14.
Sunday May 3, 2015
Making a fresh bid to locate Sahara investors eligible for refunds, the Securities and Exchange Board of India (Sebi) has asked the bondholders of two Sahara firms to submit their claims along with the proof of investments.
India News | NDTV.com | Friday May 1, 2015
In this episode, Shekhar Gupta, is joined by a luminary of the Indian judiciary, Harish Salve - former Solicitor General of India and a prominent lawyer. Here is the full transcript of the interview.
Sunday April 12, 2015
In a new twist to the high profile Sahara-Securities and Exchange Board of India case, the Indian capital market regulator has approached a US court with a $12-million claim on proceeds from sale of a corporate jet owned by a Sahara group firm.
Thomson Reuters | Thursday March 26, 2015
A rescue plan for Sahara was thrown into disarray on Wednesday when Spanish bank BBVA SA denied offering a credit line to the bank, scuppering the conglomerate's claims it would use it to help secure bail for its jailed boss.
Press Trust of India | Tuesday March 3, 2015
Facing a possible sale of its Grosvenor House hotel in London by lenders, Sahara on Tuesday said it is working on a refinancing transaction to repay the loans to Bank of China and regain control of the iconic property.
Thomson Reuters | Friday February 27, 2015
Sahara's long-drawn dispute with the Securities and Exchange Board of India (Sebi) over investor repayments has begun to take its toll on salaries of the group's employees, which are getting delayed amid a major liquidity crunch.
Press Trust of India | Tuesday February 24, 2015
Facing tough times in its attempt to get its chief Subrata Roy out of jail, Sahara Group on Tuesday landed in a soup again as the Supreme Court asked it to explain how it encashed securities, deposited with the Reserve Bank of India (RBI), and diverted them to pay depositors to the tune of Rs 484 crore without the court's nod.
Press Trust of India | Friday February 20, 2015
Mr Roy's application filed early this week for extension of facilities by four to six weeks did not come up for hearing and an effort to get relief today from a bench headed by Justice T S Thakur failed.
Thomson Reuters | Tuesday February 17, 2015
The bail of $1.6 billion, the largest ever set in India, reflects the scale of the illegal bond scheme. The court has said investors need to be repaid as much as $7 billion, including accrued interest.
Press Trust of India | Friday February 13, 2015
In an application, the Reserve Bank of India (RBI), sought modification of the order allowing Sahara Group to sell its assets for generating funds.
Thomson Reuters | Wednesday February 11, 2015
A senior official and a separate source with direct knowledge of the situation said the market regulator has been checking an affidavit filed by Sahara detailing property assets, as time runs out for the group to post $1.6 billion in bail to free its jailed founder.
Press Trust of India | Wednesday February 11, 2015
Last year Pune did not host any IPL game at the new stadium on its outskirts after the scrapping of the city's franchise outfit Sahara Pune Warriors by the BCCI.
Sunday February 1, 2015
As per the court orders, Saharas were asked to bear the costs incurred by Sebi in identifying the investors and repayment of refunds to them, which has been an uphill task for the capital markets watchdog.
Saturday January 10, 2015
The Supreme Court has cleared the way for embattled conglomerate Sahara to raise $1.05 billion in fresh loans backed by its overseas hotels, helping the group to fund the bail it needs to release its jailed boss.
Friday January 9, 2015
The Supreme Court has set conditions on the fund raising, however, and on Friday asked Sahara to obtain necessary approvals from the Reserve Bank of India and other authorities to comply with foreign exchange rules.
Wednesday December 17, 2014
The Supreme Court on Wednesday said that the money likely to be arranged by the Sahara group from overseas to raise Rs 10,000 crore for the release of its jailed chief Subrato Roy would come into the country only after necessary clearances by the Reserve Bank of India (RBI).
Wednesday December 17, 2014
In a fresh effort to locate Sahara investors eligible for refunds, the Securities and Exchange Board of India (Sebi) has asked bondholders to submit their claims by next month along with necessary proof of their investments.