India News | Written by Monideepa Banerjie | Thursday January 29, 2015
Suspended Trinamool MP Kunal Ghosh, arrested in the Saradha scam and now in jail, on Wednesday, suggested that West Bengal's panchayat minister, Subrata Mukherjee, should replace Mamata Banerjee as chief minister till she was cleared in the chit fund...
Tuesday January 13, 2015
This comes after a similar 57-day stay at the special facility till September 30 by Mr Roy on the top court's direction. Sahara group had then paid Rs 31 lakh to Tihar jail as charges for the facility. Mr Roy has now been allowed to use of facility t...
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 31, 2014
From change in political leadership at the Centre to India's second largest services firm Infosys appointing a non-founder CEO, 2014 brought many changes for India Inc
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 Res...
India News | Reported by Monideepa Banerjie; Edited by Amit Chaturvedi (With PTI inputs) | Saturday December 13, 2014
West Bengal Transport Minister and Trinamool Congress leader Madan Mitra, who was arrested on Friday in connection with the Saradha scam, was today produced before a court in Kolkata which remanded him to CBI custody till December 16.
India News | Reported by Monideepa Banerjie, edited by Abhinav Bhatt | Saturday December 13, 2014
Under pressure after the arrest of her key aide Madan Mitra in the Saradha scam, Trinamool Congress chief Mamata Banerjee today hit out directly at Prime Minister Narendra Modi. Arguing that an image of Madan Mitra with the man who ran Saradha should...
Sunday December 7, 2014
After selling land in Gurgaon for Rs 1,211 crore recently, Sahara group is believed to have finalised two more land parcels deals - one in Mumbai and another in Jodhpur - for over Rs 1,250 crore.
Thursday December 4, 2014
The 185-acre land in Gurgaon, with 12 million square feet built-up area, would be used for 'mix-use development' and has sales revenue potential of Rs 12,000 crore, M3M India Ltd said on Thursday while announcing the deal.
Thursday December 4, 2014
Sahara group is believed to be selling a large land parcel for over Rs 1,200 crore in the outskirts of the national capital to Gurgaon-based realty firm M3M India Ltd.
Tuesday December 2, 2014
The Supreme Court on Tuesday permitted the Sahara Group to proceed with the sale of four domestic properties in its bid to raise Rs 10,000 crore for the release of its jailed chief Subrata Roy. The property sale is likely to fetch Rs 2,710 crore.
Friday November 28, 2014
The Sahara conglomerate on Friday said it aimed to raise $650 million (Rs 4,037 crore at 1 dollar = 61 rupees) in loans to secure the release of its chief, in jail for nearly nine months over the group's failure to refund billions of dollars to inves...
Saturday November 1, 2014
The Securities and Exchange Board of India (Sebi) has accused Sahara of deliberately failing to sell its marquee overseas hotels in New York and London, seen as crucial to it complying with an order to repay investors and secure the release of jailed...
Friday October 31, 2014
Sahara group has paid Rs 31 lakh to Tihar Jail authorities as charges for the stay of its chief Subrata Roy in an air-conditioned facility and using services like phone, internet and video conferencing for 57 days to negotiate sale of his luxury hote...
A Vaidyanathan | Thursday October 30, 2014
Market regulator Securities and Exchange Board of India or Sebi on Thursday moved Supreme Court over Sahara's failure to sell properties to repay investors. In its petition, the market regulator said it has received complaints from buyers that Sahara...
Friday October 3, 2014
The Supreme Court on Friday declined to give an urgent hearing to the plea of jailed Sahara chief Subrata Roy seeking bail to attend the cremation and perform rituals relating to the death of his aunt.
A Vaidyanathan | Thursday October 2, 2014
Subrata Roy, the jailed chief of India's Sahara conglomerate, wants to leave prison immediately to perform the last rites for an aunt who died this morning.
India News | Press Trust of India | Wednesday October 1, 2014
Sahara chief Subrata Roy was today sent back to his cell in Tihar jail at the end of the period granted by the Supreme Court to stay at an air conditioned facility in the complex to negotiate sale of his overseas luxury hotels.
Wednesday October 1, 2014
Sahara chief Subrata Roy was on Wednesday sent back to his cell in Tihar Jail at the end of the period granted by the Supreme Court to stay at an air conditioned facility in the complex to negotiate sale of his overseas luxury hotels.
Monday September 8, 2014
Subrata Roy, the jailed chief of Sahara conglomerate, has won 15 days more from the Supreme Court to use his makeshift office in prison to negotiate the sale of his group's trophy overseas hotels and raise $1.7 billion (Rs 10,000 crore) in bail money...
A Vadiyanathan | Monday September 8, 2014
Sahara chief's lawyer had earlier requested the court to extend Mr Roy's stay as negotiations for sale of overseas hotels are at a crucial stage and the deal is likely to get fetch around Rs 1,800 crore.
Friday September 5, 2014
Sahara conglomerate would rather mortgage its trophy overseas hotel properties than sell them to raise the $1.7 billion, or Rs 10,000 crore, in bail money for its jailed chairman, a senior company executive told Reuters.
A Vaidyanathan | Friday September 5, 2014
Sahara chief Subrata Roy today moved Supreme Court seeking more time for negotiations to sell properties. Sahara chiefs lawyer told the top court that he needs ten more days as the negotiations are in crucial stage and likely to get fetch around Rs 1...