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.
Tuesday March 24, 2015
A Delhi court on Tuesday issued a warrant for the appearance of Sahara chief Subrata Roy, now lodged in Tihar Jail, in an income tax case in which he has been accused of not filing returns for a group company for assessment year 2013-14.
Monday March 23, 2015
If Sahara fails to raise the cash, the top court warned "it will be left with no option but to appoint a receiver for selling your properties".
Thomson Reuters | Monday March 23, 2015
The Supreme Court will decide the future of conglomerate Sahara later on Monday, when it rules on whether time has run out for the controversial business empire to raise Rs 10,000 crore it needs to free its jailed chief.
Monday March 16, 2015
Sahara Housingfina Corp promoter director Joy Broto Roy, brother of the group's jailed chief Subrata Roy, has resigned from the directorship of the company.
Thomson Reuters | Sunday March 15, 2015
The court will appoint a receiver and auction the conglomerate's properties if it fails to submit a proposal to raise the funds, said a lawyer for the market regulator, which is seeking redress for millions of investors.
India News | Indo-Asian News Service | Sunday March 8, 2015
The Trinamool Congress on Sunday announced its candidates' list for Kolkata Municipal Corporation (KMC) polls, and declared that incumbent mayor Sovan Chatterjee would be the party's nominee for the post again if it returned to power.
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.
India News | Press Trust of India | Sunday March 1, 2015
A day after he was removed from the post of All India General Secretary of Trinamool Congress, Mukul Roy today said leaders who replaced him in different positions "are more competent than him".
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 divert...
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 | Thursday February 19, 2015
One source said the Federal Bureau of Investigation's office in San Francisco is currently investigating Sharma, and another said the probe involved the Sahara allegations of a bank letter forgery.
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.
Tuesday February 17, 2015
Meanwhile, the top court today questioned the Sahara group's intent by questioning their lawyer how it would pay around Rs 30,000 crore when it is struggling to pay Rs 10,000 crore to get its chairman out of jail.
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 | Thursday February 12, 2015
Last week, Sahara described as forged a Bank of America letter intended to show Mirach had enough funds to arrange a $2 billion deal, which involved refinancing its overseas hotels, including Plaza and Grosvenor House in London.
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...
Wednesday February 11, 2015
In a blow for Sahara, the US-based Mirach Capital called off its $2 billion loan deal which would have helped the Indian conglomerate raise bail money for its jailed chief Subrata Roy.
Wednesday February 11, 2015
Criticising Sahara over the delay in sale of its overseas properties, the Supreme Court now wants an asset management agency to handle it.
Sunday February 8, 2015
As the blame-game continues over their floundered deal, US-based Mirach Capital has claimed that Sahara's three overseas hotels can fetch a maximum valuation of $1.67 billion (Rs 10,400 crore).
Thursday February 5, 2015
Sahara Group on Thursday said a Bank of America letter, submitted by a US-based former broker, guaranteeing funds for a deal for the bail bond of its jailed chief was forged.
Thursday February 5, 2015
Bail amount set at Rs 10,000 crore, highest-ever in India.
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.