SUBRATA ROY

  • Some staff say Sahara has not paid salaries for months 2 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...
  • 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 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 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...
  • Delhi: CBDT raids Sahara properties in Noida and Greater Kailash November 22, 2014

    New Delhi: Central Board of Direct Taxes on Saturday morning raided Sahara properties in Noida and Greater Kailash in Delhi. The raids were conducted by Director-General of Income Taxes, Delhi. Sahara Chief Subrata Roy and two directors of Sahara group have been lodged in prison since early March for non-payment of...
  • Sahara eyes hedge fund support to secure Subrata Roy's release: Report October 12, 2014

    London: Sahara group is believed to be working on an over $1 billion debt refinancing deal with two American hedge funds for raising funds to secure release of its jailed chief Subrata Roy, a media report said on Sunday. The two funds would become financiers for over $1 billion (Rs 6,000...
  • Tihar to raise wall to stop articles being flung from outside October 12, 2014

    New Delhi: Tihar Jail authorities have decided to raise the height of the prison's boundary walls besides enhancing other security measures, after SIM cards and surgical blades were found hidden inside various articles which were flung from outside of the facility. A top official of the high-security jail said restricted...
  • SC declines urgent hearing plea of Sahara chief Subrata Roy October 3, 2014

    New Delhi: 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. The application was mentioned by Roy's advocates at the residence of Chief Justice...
  • Subrata Roy moved back to jail, special facilities withdrawn October 1, 2014

    New Delhi: Sahara chief Subrata Roy on Wednesday was 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. The court had extended Roy's...
  • Bullet News: Catch the day's top stories September 8, 2014

    Bullet News is CNNIBN's nonstop 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 Bhupendra Chaubey September 8, 2014

    Catch the day's top stories with Bhupendra Chaubey on India @ 9. ...
  • News 360: J&K floods claim nearly 200 lives, massive rescue on September 8, 2014

    The situation in flood ravaged Jammu and Kashmir continues to be critical and all efforts are being made to pull out all victims from this situation. Even though Jammu region is back to normalcy, the situation remains critical in Kashmir. ...
  • SC gives Subrata Roy 15 more days to finalise sale of his hotels September 8, 2014

    New Delhi: The Supreme Court on Monday granted extension of concession to Sahara chief Subrato Roy. Roy, who has been lodged in the Tihar jail has been given 15 more days to to finalise sale of his three foreign luxury hotels. Roy had sought 15 working days to complete sale...
  • Sahara chief seeks 10 more days from SC to facilitate the sale of his hotels in NY, London September 5, 2014

    New Delhi: Sahara chief Subrata Roy has sought extension of the concession given to him for 10 more days. He is presently housed in the conference hall of the Tihar Jail to facilitate the sale of his hotels in New York and London. He said that he could not facilitate...
  • Sultan of Brunei bids for Sahara's New York and London luxury hotels: report August 18, 2014

    New York: 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. An investment firm affiliated with Brunei has offered to pay $2 billion for the...
  • From jail, Subrata Roy tries to sell the New York Plaza August 10, 2014

    New Delhi: It's hardly the $30,000 a 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 to sell the iconic hotels. Indian tycoon Subrata Roy...
  • Subrata Roy shifted to conference room of Tihar Jail August 5, 2014

    New Delhi: 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 Roy's bail amount of Rs 10,000 crore. Sources in...