Sahara Group

  • 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...
  • Sahara chief seeks SC permission to shift to Tihar guest house July 25, 2014

    New Delhi: Sahara chief Subrata Roy, currently in jail on charges of investor fraud, wants to shift into a guest house in Tihar Jail. He has moved the Supreme Court for the same saying he needs to hold negotiations to sell his assets in India and abroad to meet his...
  • SC reserves order on Subrata Roy's plea for 40 days parole July 4, 2014

    New Delhi: The Supreme Court on Friday reserved its order on the plea by Sahara Group chief Subrata Roy seeking the court's nod for selling its three overseas hotels to generate Rs 10,000 crore and for his release on 40 days parole to put through the international transaction. Roy and two...
  • I-T moves SC with a tax demand of Rs 4,800 crore from Sahara July 3, 2014

    New Delhi: There seems to be more trouble for the Sahara Group as the Income Tax department has now approached the Supreme Court with a tax demand of Rs 4,800 crore for the last 3 years. This comes even as Sahara chief Subrata Roy has sought an interim bail of...
  • One needs to be superhuman to handle cases like Sahara: SC May 6, 2014

    New Delhi: Fed up with the tactics of Sahara Group and its chief Subrata Roy, the Supreme Court on Tuesday observed that judges would need to be "superhumans" to handle the pressures to handle frivolous litigations. It suggested that Legislature frame a mechanism for evolving a Code for Compulsory Costs under...
  • Subrata Roy to remain in jail as SC defers hearing March 11, 2014

    In a further setback to Sahara group chief Subrata Roy, the Supreme court on Monday deferred hearing in his case slated for Tuesday, apparently in the absence of any concrete refund proposal that could prolong his stay in the jail indefinitely.   On the last date of hearing on March...
  • Both Sahara chief and the advocate who threw ink on him sent to Tihar jail March 5, 2014

    The lawyer, who threw black ink at Sahara Group chief Subrata Roy in the Supreme Court premises on Tuesday, was sent to Tihar jail by a Delhi court on Wednesday after he failed to get a surety for his bail. Manoj Sharma was produced before Special Executive Magistrate Rai Singh Khatri...
  • Subrata Roy Sahara brought to Delhi, to be produced in SC today March 4, 2014

    New Delhi: Sahara Chief Subrata Roy will be produced in the Supreme Court on Tuesday afternoon. He was brought to Delhi on Monday night after an overnight halt in Agra. Roy was arrested last week after he failed to respond to the Supreme Court's summons to appear in court. This...
  • SC cracks the whip on Sahara, Subrata Roy faces arrest February 26, 2014

    In a blow to the Sahara group, the Supreme Court on Wednesday issued a non-ballable warrant against its chief Subrata Roy chief after he failed to appear in the court. On Tuesday the apex court had rejected his plea seeking exemption from personal appearance in a contempt case. ...
  • SC issues non-bailable arrest warrant against Sahara chief Subrata Roy February 26, 2014

    New Delhi: In a blow to the Sahara group, the Supreme Court on Wednesday issued a non-ballable warrant against its chief Subrata Roy chief after he failed to appear in the court. On Tuesday the apex court had rejected his plea seeking exemption from personal appearance in a contempt case. Earlier,...
  • Contempt case: SC rejects Subrata Roy's plea for exemption from court February 25, 2014

    New Delhi: In a setback to Subrata Roy, the Supreme Court on Tuesday rejected the Sahara chief's plea seeking exemption from personal appearance in a contempt case. The court said that the matter involved not just the integrity of it but also of the judges and lawyer. The judges in...
  • SC summons Subrata Roy and three Directors of Sahara group February 20, 2014

    Coming down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order, the Supreme Court on Thursday summoned its chief Subrata Roy to be personally present before it and allowed SEBI to go ahead with the sale of companies' properties. The apex court also...
  • SC directs Sahara to provide details of source of payment to investors January 9, 2014

    New Delhi: More trouble brewing is for the Sahara group as Supreme Court has directed the business group to reveal the source of Rs 20,000 crore which the company returned to its investors. The apex court rapped the Sahara group asking it to provide the details of all the funds it...
  • Sahara gives SEBI title deeds of properties December 11, 2013

    New Delhi: Sahara India on Wednesday submitted title deeds of 71 properties amounting to Rs 20,000 crore to Securities and Exchange Board of India (SEBI). The SEBI will now verify the cost of the properties. The Supreme Court has already restrained Sahara group from selling any properties and ordered Subrata Roy...
  • SC modifies order restraining Sahara chief from traveling abroad November 1, 2013

    New Delhi: The Supreme Court has modified its earlier order restraining Sahara Chairman Subrata Roy and its directors from traveling outside the country. Now, the court has said that Sahara will have to hand over title deeds of properties worth Rs 20,000 crore within 3 weeks and that a failure...
  • SC asks Sahara to file review application October 30, 2013

    The Supreme Court on Wednesday asked the Sahara Group to file an application seeking to rectify the alleged error in the order which barred group head Subrata Roy and its two directors from going abroad till they submit original title deeds of their assets worth Rs.20,000 crore to SEBI to...
  • SC raps Sahara Group for non-payment to investors October 29, 2013

    New Delhi: The Supreme Court slammed the Sahara group for playing 'hide and seek' and directed it to hand over title deeds of its properties worth Rs 20,000 crore to SEBI, failing which Subrata Roy and other directors would be barred from leaving the country. Making it clear that there is...
  • Submit title deeds of assets, SC says to Sahara Group October 28, 2013

    The Supreme Court on Monday directed the Sahara Group to give original title deeds of its assets worth Rs.20,000 crore to SEBI as a guarantee towards the payment of investors money amounting to Rs.24,000 crore, which its two real estate companies have collected under optionally fully convertible debentures (OFCD). Sahara has...
  • BCCI terminates Sahara-owned Pune Warriors, IPL down to 8 teams October 26, 2013

    New Delhi: As reported by CNN-IBN earlier today, the Indian Premier League's 2014 season will see eight instead of nine teams competing after the BCCI on Saturday terminated the Sahara Group-owned Pune Warriors India (PWI) at it's working committee meeting, after the franchise failed to furnish the bank guarantee. "Given Sahara's...
  • Supreme Court to hear Sahara-SEBI case today August 6, 2013

    New Delhi: The Supreme Court is set to take up the SEBI-Sahara case again on Tuesday. On July 30, SEBI had made a forceful plea to punish Sahara chief Subrata Roy along with his two firms and their directors for not complying with its order for refunding Rs 24,000 crore...
  • SC pulls up Sahara for not refunding Rs 24,000 crore July 17, 2013

    New Delhi: The Supreme Court on Wednesday pulled up Sahara group for not refunding Rs 24,000 crore to investors and said that Sahara chief Subrata Roy and directors of its two companies will have to appear before it if its order is not complied with. A bench of justices KS...
  • Sahara accuses BCCI of 'betrayal of trust' May 22, 2013

    New Delhi: The Sahara Group on Wednesday accused the BCCI of "betrayal of trust" while rejecting claims of the Board that the IPL team was to be blamed for the controversy surrounding the franchise fee, leading to Pune Warriors pulling out of the Twenty20 tournament. A day after Sahara Group pulled...
  • We cannot be held responsible for arbitration impasse: BCCI May 22, 2013

    New Delhi: The BCCI on Wednesday rejected Sahara Group's claim that it had failed to expedite the arbitration process to reduce franchisee fee, saying that it has acted as per the rules and was not responsible for the situation. A day after Sahara Group pulled out of the IPL, citing BCCI's...
  • No communication from Sahara regarding pullout: BCCI May 22, 2013

    New Delhi: The Indian cricket board (BCCI) has claimed that it has not received any intimation from Sahara India, owners of IPL franchise Pune Warriors India, about its decision to withdraw from the IPL and discontinue its sponsorship of the Indian cricket team at the end it its existing agreement...
  • SC asks SEBI to ascertain genuineness of Sahara's investors May 8, 2013

    New Delhi: The SEBI should come out with a mechanism to verify the genuineness of investors, who had invested in the Sahara Group, and start refunding money to them, the Supreme Court said on Wednesday. A bench of justices KS Radhakrishnan and JS Khehar also sought an affidavit detailing their assets...
  • Sahara Prime City IPO proposal bites dust; Sebi closes file April 23, 2013

    Mumbai: Over three-and-a-half years after receiving draft papers for the proposed IPO of Sahara Prime City Ltd, Sebi has formally closed this file as the company failed to submit clarifications sought by the market regulator. Sebi closed file on the Rs 3,450-crore IPO proposal last week...
  • You are 'manipulating courts', SC tells Sahara Group April 22, 2013

    New Delhi: The Sahara Group and its promoter Subrata Roy on Monday faced a tough time in the Supreme Court which pulled them up for not refunding Rs 24,000 crore to its investors and accused them of "manipulating courts" by approaching different forums for relief. A bench comprising by Justices...
  • SAT to hear Subrata Roy's plea against Sebi today April 13, 2013

    Mumbai: The Securities Appellate Tribunal (SAT) will on Saturday hear Sahara Group chief Subrata Roy's plea against market regulator Sebi's attachment order of his bank accounts and other assets, along with those of two group firms and their top executives. The Tribunal will on Saturday hold its "preliminary hearing" of...
  • Hang me if any wrongdoing found in Sahara, says Subrata Roy April 11, 2013

    New Delhi: Sahara chief Subrata Roy on Wednesday said that he should be hanged if any wrongdoing was found in his company. Speaking to CNN-IBN, Roy alleged that he was being targeted by "some people in the system" and attacked SEBI for delaying the process of verifying documents related to...
  • Not even offered a cup of tea by SEBI: Subrata Roy April 11, 2013

    Mumbai: Sahara group chief Subrata Roy, who appeared before a SEBI panel on Wednesday complained with a smile that he was not offered a cup of tea at the hour-long meeting. Roy who was summoned said that his company paid Rs 5,120 crore to SEBI and all the expenses are...