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 | 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...
Tuesday August 19, 2014
The Journal's website edition reported on Saturday, citing people familiar with the situation, that an investment firm affiliated with Brunei had offered to pay $2 billion for the three hotels, which are currently owned by India's Sahara conglomerate...
India | Reuters | Monday August 18, 2014
The Sultan of Brunei has made a bid for New York's Plaza Hotel, Dream Hotel and London's Grosvenor House hotel, the Wall Street Journal's website edition reported on Saturday, citing people familiar with the situation.
Thursday August 14, 2014
Mr Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog Sebi (Securities and Exchange Board of India) over the company's failure to repay crores to investors who were so...
Thursday August 14, 2014
Mr Roy, chairman of the Sahara conglomerate, was initially given 10 days by the Supreme Court to talk to potential bidders for three hotels, including Grosvenor House in London and the New York Plaza, to raise Rs 10,000 crore for bail.
Sunday August 10, 2014
It's hardly a $30,000 (Rs 18.3 lakh at 1 dollar = 61 rupees) per night royal suite, but after five months in India's biggest jail, the owner of the New York Plaza and London's Grosvenor House is thrilled to be able to use a modest office as he tries ...
Tuesday August 5, 2014
A number of people including the staff of Sahara chief Subrata Roy on Tuesday visited him at the conference room of Tihar Jail which has been declared "special jail" for negotiations with potential buyers of his overseas hotels to raise Rs 10,000 cro...
Monday August 4, 2014
Jailed Sahara chief Subrata Roy will move to a conference room in Tihar prison on Tuesday where he will have facilities like video conferencing, internet and phone so that he can negotiate with potential bidders for sale of his hotels abroad to raise...
Friday August 1, 2014
Roy, head of the Sahara conglomerate, was jailed on March 4 for failing to appear in court in a legal battle with India's capital market's watchdog. He needs to raise Rs 10,000 crore to have a chance of release.