SAHARA

  • Sahara's Grosvenor House hotel in London put up for sale Yesterday

    New Delhi/Mumbai: London's landmark Grosvenor House hotel has been put up for sale after its owner, part of troubled Indian conglomerate Sahara which has been trying to raise funds for its jailed boss Subrata Roy, was placed into administration by creditors. Consultant Deloitte said on Tuesday it had been appointed administrator...
  • Sahara defaults on loan taken by Bank of China, prompts legal action 2 days ago

    New Delhi: In yet another development which will compound trouble for Sahara group, Bank of China may initiate legal action against it for defaulting on a loan, sources said. The sources also said Bank of China had financed Sahara's hotel buys for nearly $900 million. The development takes place even as...
  • Some staff say Sahara has not paid salaries for months 5 days ago

    Mumbai: Some staff at conglomerate Sahara say they haven't been paid for several months, as the company tries to raise $1.6 billion to bail its boss Subrata Roy out of jail. Reuters interviewed 11 employees independently contacted in separate units in Delhi, Mumbai and Lucknow this week, and found workers at...
  • SEBI cancels Sahara's portfolio management licence 6 days ago

    Mumbai: The Securities and Exchange Board of India (SEBI) said it has cancelled the portfolio management licence held by Sahara Asset Management Company Pvt Ltd, saying the firm did not comply with its "fit and proper" norms. Financial firms must meet regulators' "fit and proper" criteria to operate in India. The asset...
  • Force India finally confirm new car plans 1 week ago

    Barcelona: Sahara Force India have confirmed that their 2015 car will make its debut on day two of the final pre-season testing that began here on Thursday. "With the car due to be completed on Friday morning, @NicoHulkenberg is lined up to step in on Friday pm to take the first...
  • Sahara moves Supreme Court for extension of facilities to Subrata Roy in jail by 6 weeks February 17, 2015

    New Delhi: Supreme Court on Tuesday expressed concern over how Sahara Group would raise money to secure its chief Subrata Roy's release, as the group sought extension of facilities inside Tihar jail premises by four to six weeks to enable him negotiate deals with prospective buyers. The apex court expressed concern...
  • SEBI-Sahara row:RBI moves SC to stop SIFCL from selling assets February 13, 2015

    New Delhi: In a fresh turn of events in the Sahara case, RBI on February 13 moved to the Supreme Court seeking to implead itself as a party in the company's tussle with SEBI and sought to stop one of its firms from disposing off assets for securing the release...
  • Sahara to take legal action against Mirach after deal collapse February 13, 2015

    Mumbai: Indian conglomerate Sahara said on Thursday it was taking legal action against US-based Mirach Capital Group after the collapse of talks between the two, intended to raise funds to pay the $1.6 billion bail of Sahara chief Subrata Roy. The talks involved a loan by Mirach secured against some of...
  • Working on another deal to raise funds to secure release of Subrata Roy: Sahara February 12, 2015

    New Delhi: Sahara said on Thursady that they are working on another deal to raise funds to secure the release of their chief Subrata Roy from Tihar jail. This came after the Supreme Court was informed that the proposed transactions for a loan of around US dollar 1,050 million from...
  • Sahara saga: Mirach Capital says 3 hotels can fetch maximum $1.67 billion February 8, 2015

    New York: 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). These three iconic hotels -- The Plaza and Dream Downtown in New York and Grosvenor House in London -- were...
  • Sahara saviours deny fraud, say ready to buy company assets February 6, 2015

    Washington: Denying "unfounded" allegations of forgery, the US-based Mirach Capital Group has asserted that it remains "ready, willing and able" to buy Sahara assets, but its loan offer was no longer on the table. The syndicate of five UK and US investors, which had last month made a $2 billion loan...
  • Mysterious turn to Sahara's $2-billion deal, Bank of America denies any role February 6, 2015

    New Delhi: In a curious turn to crisis-ridden Sahara Group's efforts to raise funds to secure bail for its chief Subrata Roy, Bank of America has refuted claims of being a banker to the USD 2-billion funding offered by little known US-based entity Mirach Capital. "We are in no way...
  • Sebi lowers Sahara case expense estimates to Rs 25.88 crore February 1, 2015

    New Delhi: As a prolonged Sebi-Sahara battle continues, the regulator has revised lower the expenditure it intends to recover from the business group to Rs 25.88 crore in the current fiscal towards money spent on identifying the investors and making refunds. As per the court orders, Saharas were asked to bear...
  • 'Don't think Sahara can pay off debts, expect to take control of hotels before time' January 21, 2015

    Mumbai: An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders. Saransh Sharma, a San Jose, California-based investor...
  • SC allows Sahara group's proposed loan transaction from abroad for raising funds January 9, 2015

    New Delhi: In a relief for Subrata Roy, the Supreme Court on Friday allowed the Sahara Group to go ahead with its proposed loan transaction from abroad for raising funds to ensure release of Subrata Roy from jail. As per court's directions Sahara Group will have to seek permission from Reserve...
  • SC refuses to free Sahara's Subrata Roy from custody December 17, 2014

    New Delhi: The Supreme Court on Wednesday declined Sahara Group chief Subrata Roy's plea for release from jail along with his two other directors. The trio were taken into custody March 4 for non-compliance of Aug 31, 2012, order to return investors' money that Sahara's two real estate companies - Sahara...
  • SC defers verdict on Sahara plea to raise more debt on hotels December 17, 2014

    Mumbai: The Supreme Court on Wednesday deferred a verdict on embattled Sahara conglomerate's plea seeking permission to raise more debt on its three overseas hotels, crucial to secure bail for its jailed chief Subrata Roy. Sahara needs to deposit an initial $1.6 billion to secure bail for Roy, held in a...
  • Sahara awaits court verdict that may give jailed chief Subrata Roy freedom December 17, 2014

    New Delhi: Embattled conglomerate Sahara is readying for a court verdict on Wednesday that will determine if it can take on a new loan and refinance debt on its overseas hotels, including the Plaza in New York, to secure the release of its jailed chief. Sahara Chairman Subrata Roy has been...
  • Sahara to sell Mumbai, Jodhpur land parcels for Rs 1,251 crore December 7, 2014

    New Delhi: 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. Besides, talks are in final stages for sale...
  • To get Subrata out of Tihar, Sahara sells off Gurgaon land to M3M India for over Rs 1,200 crore December 4, 2014

    New Delhi: As it tries to raise funds for securing release of chief Subrata Roy from Tihar jail, Sahara group on Thursday sold a big land parcel in Gurgaon for Rs 1,211 crore to realty firm M3M India Ltd. The group is also believed to have clinched deals for sale of...
  • Sahara permitted by SC to sell 4 properties worth over Rs 2700 crore December 2, 2014

    New Delhi: The Supreme Court on Tuesday permitted the Sahara Group to proceed with the sale of four domestic properties, which is likely to fetch Rs 2,710 crore, in its bid to raise Rs 10,000 crore for the release of its jailed chief Subrato Roy. The court allowed the group to...
  • TMC likely to raise issue of BJP's Amit Shah alleged links with Sahara group in Parliament December 2, 2014

    New Delhi: The face-off between the Trinamool Congress and the Bharatiya Janata Party is expected to continue on Tuesday with the former raising the issue of BJP President Amit Shah's alleged links with the Sahara group. The winter session of Parliament has witnessed a stormy session since it commenced with...
  • TMC MPs demand CBI probe over alleged links of Amit Shah with Sahara group December 1, 2014

    The Trinamool Congress continue to up its ante against the Bharatiya Janata Party and have now demanded a Central Bureau of Investigation probe in the alleged links of BJP President Amit Shah with the Sahara group. TMC MP Derek O'Brien flashed a red diary in Rajya Sabha saying, "It was...
  • TMC MPs target BJP's Amit Shah over his alleged links with Sahara group December 1, 2014

    New Delhi: The war of words continue between the Trinamool Congress and Bharatiya Janata Party as both the parties are not missing a chance to target the other. The stand off between the two parties once again played out in Parliament on Monday as TMC MPs held protest outside the...
  • Sahara tells Supreme Court it will get a loan against its 3 hotels abroad November 28, 2014

    New Delhi: The Sahara group has informed Supreme Court that it has found somebody who is willing to give the company a loan against its three hotels abroad. The group has sought permission to transfer Rs 3070 crore in a Escrow account against these properties. SC has directed Sahara to deposit...
  • Sahara moves Supreme Court, seeks relief for Subrata Roy on deteriorating health condition November 25, 2014

    New Delhi: The Sahara group moved Supreme Court on Tuesday and appealed for relief for its chief Subrata Roy on his deteriorating health condition. The Supreme Court has said that they can only direct Tihar jail to give necessary treatment to Roy. The move comes a day after the Central Board of...
  • Bullet News: Catch the day's top stories November 24, 2014

    Bullet News is CNN-IBN's non-stop prime time bulletin where we bring to you the day's top stories from around the world. Be it politics, sports, entertainment or business, catch it here, only in 30 minutes. ...
  • India @ 9 with Palki S Upadhyay November 24, 2014

    Catch the day's top stories with Palki S Upadhyay on India @ 9. ...
  • News 360: SC slams BCCI over Srinivasan's conflict of interest November 24, 2014

    Wrapping on the knuckles of BCCI, the Supreme Court on Monday asked ICC Chairman N Srinivasan to address the question of conflict of interest as head of BCCI and also owner of the Indian Premier League (IPL) franchise Chennai Super Kings. ...
  • I-T seizes over Rs 135 crore cash, jewellery from Sahara group November 24, 2014

    New Delhi: The Income Tax department has claimed to have seized cash of over Rs 135 crore from the premises of Sahara group during its raids on its two premises in Delhi and Noida in connection with alleged tax evasion charges. Sources said that the department made one of its...