Monday June 22, 2015
The lawsuit has been filed by Hong Kong-based JTS Trading Ltd, which had proposed to partner UAE-based Trinity White City Ventures and arrange loans from Swiss banking giant UBS to acquire the crisis-ridden Indian group's three overseas hotels -- Gro...
Thomson Reuters | Friday June 19, 2015
The Supreme Court on Friday set tougher terms for Sahara to secure the release of its jailed founder, saying the firm must repay the entire $5.7 billion or Rs 36,000 crore the court says it owes investors in illegal bonds within the next 18 months.
Friday June 19, 2015
The Supreme Court on Friday set fresh terms for releasing troubled conglomerate Sahara's founder Subrata Roy, jailed for more than a year in a long-running dispute over issuance of illegal bonds.
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...
Sunday June 7, 2015
The Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'.
Monday June 1, 2015
A Delhi court on Monday fixed for next month the proceedings in an Income Tax case in which Sahara chief Subrata Roy, now lodged in Tihar Jail, and others have been accused of not filing returns for a group company for 2013-14 assessment year.
Thomson Reuters | Thursday May 28, 2015
Sahara bought the Grosvenor in 2010 but the hotel was placed in administration and put up for sale in March after Bank of China's loan on the 494-room property, operated by Marriott International, was declared in default.
Thursday May 28, 2015
"I was asked to remove the names of all popular figures even if they were not being used in a degrading context," Kundan Shah is quoted as having said
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.
Thomson Reuters | Thursday May 14, 2015
In its bid to release Roy, Sahara has in the past made several attempts to raise the bail money using its overseas hotels.
Thursday May 14, 2015
Mr Roy has been held in jail for more than a year after Sahara failed to comply with a court order to refund crores of rupees it had raised in bonds deemed illegal.
Thomson Reuters | Friday May 8, 2015
Sahara, a sprawling conglomerate that ranges from media to property and Formula One racing, has agreed to pay the full $1.6 billion (Rs 10,000 crore) to release its jailed boss on bail, a lawyer for the company said on Friday.
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 | Press Trust of India | Thursday April 9, 2015
Trinamool Congress (TMC), today, submitted documents to the CBI - three days after the agency re-sent a notice to the party seeking details of the its accounts.
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.