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 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 to deposit the amount. Sahara has been asked to give a list of all the investors to SEBI in...
11:05 AM, Aug 31, 2012
New Delhi: The Board of Control for Cricket in India (BCCI) has raised objection to a recent television commercial released by the Subroto Roy Sahara's Sahara Group and has asked them to withdraw it. The advertisement for the Sahara 'Q' Shop shows Indian cricketers Sachin Tendulkar holding a pot on his shoulder and performing the last rites, Virender Sehwag replacing a cradle with a hospital bed and Yuvraj Singh digging...
08:26 AM, Aug 23, 2012
New Delhi: Subrata Roy-promoted Sahara Group announced its foray into retail business, to supply a comprehensive range of consumer products. "The company has made an initial allocation of Rs 3,000 crore towards this business. We will invest according to the need as we go ahead," Sahara India Pariwar Chairman Subrata Roy said. The range comprising 1700 products will be distributed through direct-to-home mode. Christened Sahara Q Shop, the first phase...
03:26 PM, Aug 14, 2012
The Sahara Group has agreed to buy a controlling stake in New York's landmark Plaza Hotel for $570 million, Elad Properties, an Israeli-owned real estate company. ...
09:28 AM, Aug 01, 2012
Tel Aviv: Sahara Group has agreed to buy a controlling stake in New York's landmark Plaza Hotel for $570 million, Elad Properties, an Israeli-owned real estate company, said on Monday. The 105-year-old luxury hotel overlooking New York's Central Park, is jointly owned by Elad Properties, an Israeli-owned real estate company, and Saudi-based Kingdom Holdings Co. Elad, controlled by Israeli businessman Yitzhak Tshuva, said it would receive 1.6 billion shekels for...
03:02 AM, Jul 31, 2012
Budapest: Nico Hulkenberg qualified 10th for Sunday's Hungarian Grand Prix while Paul Di Resta missed out on Q3 in the qualifying session and will start the race in 12th position for Force India. Hulkenberg's best lap of the day came in Q2 when he clocked 1:21.653 but in Q3, his timing of 1:22.847 got him P10. Paul di Resta marginally improved his timing in Q2 (1:21.813) but that was not...
08:42 PM, Jul 28, 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 worker and chairman of Sahara India Pariwar, Subrata Roy Sahara said, "We are proud to associate ourselves with...
06:29 PM, Jul 23, 2012
Hockenheim: Sahara Force India could not carry a strong qualifying performance into the race on Sunday when their drivers Nico Hulkenberg and Paul di Resta managed ninth and 11th place at the Formula One German Grand Prix here. Ferrari's Fernando Alonso cruised to his third victory of the season while Sebastian Vettel and Jenson Button came second and third for Red Bull and McLaren respectively. Force India were hoping a...
08:59 PM, Jul 22, 2012
Hockenheim: Nico Hulkenberg delivered a superb qualifying session in his home race as he secured a season-best fifth position on the grid while Paul di Resta was ninth as Sahara Force India got itself in a good position to score some points from the German Grand Prix, here on Sunday. Hulkenberg managed the fastest lap of 1m 43.501s and was sandwiched between fourth-placed Michael Schumacher (1:42.459) and Williams' Pastor Maldonado...
07:55 PM, Jul 21, 2012
London: The Sahara Group is planning to build an India Centre in the UK in association with the Olympic University of East London. Chairman of the Sahara India Pariwar Subrata Roy met with British Prime Minister David Cameron and discussed various business opportunities for his group in the UK. The discussion centred round the 4-acre India Centre in East London to be built in association with the Olympic University of...
03:39 AM, Jun 25, 2012
New Delhi: Sahara Group is set to buy New York's landmark Plaza Hotel for $570 million, The Times of India reported on Tuesday. The deal for the Plaza, the 105-year-old luxury hotel near New York's Central Park, is expected to be announced by the end of June, The Times reported, citing a source close to the talks. The Plaza is jointly owned by Elad Properties, an Israeli-owned real estate company,...
12:05 AM, Jun 13, 2012
Sahara Group is set to become the new sponsor of the Bangladesh cricket team after offering $9.4 million over four years. ...
10:49 PM, May 30, 2012
Monte Carlo: Sahara Force India recorded their best finish of the season with Paul di Resta and Nico Hulkenberg securing seventh and eighth position respectively at the Monaco Grand Prix in Monte Carlo on Sunday. It was the second double finish of the season for Force India since both its cars got into the top 10 at the Sepang International Circuit in Malaysia in March. Force India thus picked up...
10:54 PM, May 27, 2012
Monte Carlo: Nico Hulkenberg and his team-mate Paul Di Resta will start at the fifth and seventh rows respectively at the grid on Sunday as the Sahara Force India team had a decent qualifying session at the Monaco Formula One Grand Prix in Mnte Carlo on Saturday. Hulkenberg qualified in P11 ahead of Di Resta in P15. With a grid penalty for Pastor Maldonado of Renault, both the Sahara Force...
10:13 PM, May 26, 2012
The enquiry follows a sting operation where some Pune players allegedly took money to spot-fix IPL matches. ...
12:23 PM, May 23, 2012
New Delhi: A new study by UK-based medical journal Lancet has found that seven per cent of anti-malarial drugs tested in India are of poor quality and many are fake. The study goes on to say that 1 in every 3 anti-malarial drugs sold in southeast Asia are also fake. Researchers analysed data based on 1400 drug samples in five classes from seven Southeast Asian countries to reach to this...
10:11 AM, May 23, 2012
Victory over the ousted Pune franchise will give Kolkata 21 points. ...
02:50 PM, May 18, 2012
The Pune Warriors player accepted the statements he made during the sting operation which claimed to have exposed corruption in the IPL. ...
09:19 PM, May 15, 2012
Barcelona: It turned out to be a mixed outing for Sahara Force India as Nico Hulkenberg finished 10th in the Spanish Grand Prix but team-mate Paul di Resta ended up outside the points bracket in Barcelona on Sunday. Hulkenberg's 10th-place finish helped the team earn a point, but it was not helped by di Resta's 14th position at the Catalunya Circuit. Hulkenberg, who started 14th on the grid, gained four...
11:15 PM, May 13, 2012
