Sahara India

  • Blow for Sahara, request for house arrest of Subrata Roy rejected May 29, 2014

    New Delhi: There is no relief for Sahara group chief Subrata Roy. The Supreme Court on Thursday rejected the idea of putting Roy under house arrest for the time being. The apex court has directed the Sahara group to get valuation of three properties which have been mortgaged with the...
  • SC dismissed PIL seeking CBI probe against Sahara April 28, 2014

    New Delhi: The Supreme Court on Monday refused to entertain a PIL seeking probe by CBI and ED in an alleged illegal transfer of 270 acres of land in Lucknow by state government to Sahara India 20 years ago. A bench headed by Chief Justice RM Lodha dismissed the PIL...
  • Difficult to believe that Sahara refunded money to investors, says SC August 13, 2013

    New Delhi: The Supreme Court on Tuesday said it is "extremely difficult" to believe Sahara group's contention that it had refunded Rs 22,000 crore to its investors even before an order was passed directing its firm to deposit Rs 24,000 with SEBI. Sahara group, which faced tough time in convincing...
  • Subrata Roy not liable for refunding Rs 24,000 crore: Sahara to SC August 6, 2013

    New Delhi: Sahara group on Tuesday told the Supreme Court that its chief Subrata Roy is not liable for refunding Rs 24,000 crore collected by its two firms from investors, countering the arguments of SEBI which wanted his passport to be impounded till the contempt plea against him and companies...
  • 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...
  • Supreme Court adjourns SEBI-Sahara case hearing to August 6 July 30, 2013

    New Delhi: SEBI on Tuesday made a forceful plea to the Supreme Court 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 to investors. Refuting the contention of Roy who had submitted that he cannot...
  • IBL's Lucknow franchise renamed Awadh Warriors July 22, 2013

    New Delhi: Sahara India Pariwar, owners of Lucknow Warriors, announced here on Monday that they would be changing the name of the franchise to Awadh Warriors for the upcoming Indian Badminton League (IBL). Sahara group representative Abhijit Sarkar announced the decision after the players' auction at a hotel here. "Well the name...
  • Sahara India buys IBL's Lucknow franchise July 16, 2013

    Lucknow: Sahara India on Tuesday joined the Indian Badminton League (IBL) as it bought the Lucknow franchise ahead of the inaugural first-of-its-kind event in the sport to be played from August 14 to 31. A major business conglomerate and the prime promoter and patron of sports in India, Sahara's Lucknow franchisee...
  • Pawar should replace Srinivasan as BCCI chief: Subrata Roy May 24, 2013

    New Delhi: The clamour for N Srinivasan's head is growing stronger as after Sharad Pawar-led NCP, Sahara India Chief Subrata Roy has also said that the BCCI president should step down in the present scenario. Roy went a step further and said Pawar should replace Srinivasan as BCCI chief. "I totally...
  • BCCI lacks commitment: Sahara May 21, 2013

    Sahara and the BCCI have been at loggerheads for more than a year now over that franchise fee with Sahara maintaining the BCCI did not honour its commitment in the bid document. ...
  • SAT adjourns hearing on Sahara plea to April 20 April 13, 2013

    Mumbai: The Securities Appellate Tribunal on Saturday adjourned to April 20 its hearing on 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. After taking up the petition for its "preliminary hearing",...
  • Lucknow High Court to hear Sahara-Sebi case April 12, 2013

    Lucknow: A division bench of the Lucknow High Court will hear the Sahara-Securities Exchange Board of India (Sebi) case on Friday. Subrata Roy led Sahara India had filed a writ petition seeking to quash the market regulator's February 13 order. The court had directed Sebi to file a counter affidavit....
  • Subrata Roy, others to appear before Sebi today April 10, 2013

    Mumbai: In the high-profile refund case involving an estimated Rs 24,000 crore payment to over three crore investors, Sahara Group's chief Subrata Roy and other top executives will appear before the marget regulator Sebi on Wednesday. Sebi had summoned Roy and three other directors of two Sahara firms for personal...
  • Rs 55 cr and counting: SEBI's expense bill to Sahara April 7, 2013

    New Delhi: Market regulator SEBI has incurred initial costs of more than Rs 55 crore in its humongous task of facilitating Rs 24,000-crore refund to bondholders of two Sahara firms after verifying their credentials and Saharas would have to clear all these bills. The final expense bill of the Securities...
  • SAT defers SEBI-Sahara case till April 13 March 26, 2013

    New Delhi: The Securities Appellate Tribunal (SAT) on Tuesday adjourned its hearing on Sahara-Sebi case. The hearing will now happen on April 13. Sahara Group chief Subrata Roy had filed a plea challenging Sebi's attachment order on his bank accounts and other assets. The matter relates to the Supreme Court ordering...
  • SEBI-Sahara case: Final hearing on Subrata Roy's plea March 23, 2013

    Mumbai: The Securities Appellate Tribunal will begin on Saturday the final hearing on a plea by Sahara chief Subrata Roy against market regulator SEBI's attachment order on his bank accounts and other assets, along with those of two group firms and their top executives. The matter relates to a Supreme...
  • Harried by SEBI, Sahara's Subrata Roy stands defiant March 22, 2013

    Mumbai: 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...
  • Full text: Sahara statement on SEBI crackdown on its companies February 13, 2013

    New Delhi: The Securities and Exchange Board of India (SEBI) on Wednesday cracked down on Sahara group, freezing more than 100 bank accounts of two of its companies. Sources said that the immovable assets of the two companies were also frozen. The SEBI also attached the assets and properties of Sahara...
  • SEBI freezes over 100 bank accounts of 2 Sahara cos: Sources February 14, 2013

    New Delhi: The Securities and Exchange Board of India (SEBI) on Wednesday cracked down on Sahara group, freezing more than 100 bank accounts of two of its companies. Sources said that the immovable assets of the two companies were also frozen. The SEBI also attached the assets and properties of Sahara...
  • Sahara group moves SC against SAT order November 30, 2012

    New Delhi: Sahara Group on Friday moved the Supreme Court against the order of the Securities Appellate Tribunal (SAT) dismissing its appeal against market regulator SEBI in a case involving refund of about Rs 24,000 crore with interest to about three crore investors. A bench headed by Chief Justice Altamas...
  • SEBI files contempt plea against Sahara in SC November 3, 2012

    New Delhi: Market regulator SEBI on Friday filed a contempt petition against the Sahara Group in the Supreme Court for not complying with its directions relating to refund of about Rs 24,000 crore by its two firms to their investors. The petition by SEBI said the two firms, Sahara India...
  • Sahara's statement on SC order to refund investors' money September 1, 2012

    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...
  • SC asks Sahara to refund Rs 24,000 cr to investors August 31, 2012

    New Delhi: In a major setback to the Sahara Group, the Supreme Court has directed Sahara to deposit over Rs 24,000 crore that it had collected through OFCD (optionally fully convertible debentures) with PSU banks. The court has granted Sahara India Real Estate Corporation and Sahara Housing Investment Corporation three months...
  • Sahara India buys Lucknow hockey franchise July 23, 2012

    Lucknow: Corporate giants Sahara India Monday bought the Lucknow franchise of the soon-to-be-launched Hockey India League (HIL) which will be held in different cities of the country early next year. The inaugural HIL will have six city-based teams playing one another on a home and away basis. Speaking on the occasion, managing...
  • Sahara makes $ 600 mn bid for NY Plaza: reports April 10, 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...
  • Glittering opening ceremony for new Pune stadium April 8, 2012

    Pune: Pune Warriors franchisee owner Sahara India Pariwar hosted a grand opening ceremony ahead of their first home match against Kings XI Punjab at the new Subrata Roy Sahara Stadium in Pune on Sunday. Bollywood divas, including Preity Zinta, Jacqueline Fernandes, Dia Mirza, Neha Dhupia, Prachi Desai, Sameera Reddy, Bipasha Basu...
  • BCCI, Sahara truce in sight? February 16, 2012

    Mumbai: After plenty of deliberation on both sides, the BCCI and Sahara India could be heading towards a settlement of their differences, sources told CNN-IBN on Wednesday. Sahara could get their franchise fee reduced as per demand as BCCI are looking to reconsider their stand, sources added. Sahara had earlier wanted a...
  • Manohar to mediate BCCI-Sahara talks February 14, 2012

    Mumbai: The bigwigs of the BCCI and Sahara Group on Tuesday started another round of discussions in a desperate bid to break the stalemate over the participation of Pune Warriors in the fifth edition of the Indian Premier League. A day after the BCCI's Working Committee rejected some of the demands...
  • It's double trouble for Sahara India, BCCI February 13, 2012

    Not of the three demands of Sahara India: 27 percent cut in franchise fees, an open auction pool and five foreign players in the team were met by the BCCI. ...
  • BCCI open for dialogue with Sahara February 6, 2012

    New Delhi: Jolted after Sahara pulled out as sponsor of the Indian cricket team and owner of IPL franchise Pune Warriors, the BCCI is desperately trying to make up with the corporate giant and said it "doesn't want to decide anything in haste". Two days after Sahara snapped its 11-year-old association...