Not every executive challenges his regulatory tormentors to a televised debate, but Subrata Roy, who heads India's Sahara conglomerate, is not your typical CEO. "Enough is Enough," Sahara said in full page ads this week, days after the Securities and Exchange Board of India (SEBI) sought Supreme Court approval to arrest Roy and two Sahara directors, escalating a battle between the regulator and one of corporate India's most enigmatic personalities....
04:05 PM, Mar 22, 2013
On Friday, the Supreme Court ruled that SEBI has jurisdiction over the OFCDs issued by 2 unlisted Sahara Group companies, raising almost Rs 24,000 crore. The apex court ordered the Sahara companies to refund the outstanding Rs. 24,000 crore. The refund process is to be handled by SEBI and will be monitored by retired Justice Agarwal. Sahara has maintained that the sale of OFCDs was done via a private placement...
12:40 PM, Sep 01, 2012
New York: Sahara India Pariwar Ltd made an unsolicited $ 600 million offer to acquire the landmark Plaza Hotel in New York, the 'Wall Street Journal' reported, citing people familiar with the matter. The deal would need the approval of Israeli-owned El Ad US Holding Inc and their partner in the hotel, Kingdom Holding Co, controlled by Saudi Arabia's Prince Alwaleed bin Talal. El Ad is examining the proposal, but...
09:22 AM, Apr 10, 2012
