SUBRATA

  • Delhi Court to hear Income Tax case against Subrata Roy, others on June 1 April 15, 2015

    New Delhi: A Delhi court on Wednesday fixed June one to hear an Income Tax case in which Sahara Chief Subrata Roy, now lodged in Tihar Jail, and others have been accused of not filing returns for a group company for 2013-14 assessment year. Additional Chief Metropolitan Magistrate Devendra Kumar Sharma...
  • Delhi HC stays warrant for Subrata Roy's appearance in IT case April 10, 2015

    New Delhi: The Delhi High court on Friday stayed till May the trial court proceedings and the warrant issued by it for the appearance of Sahara Chief Subrata Roy, now lodged in Tihar Jail, in an Income Tax case for allegedly not filing returns for a group company for the...
  • Rescue plan for Sahara in doubt as Spanish bank BBVA denies loan March 25, 2015

    Mumbai: A rescue plan for Sahara was thrown into disarray on Wednesday, when Spanish bank BBVA SA denied offering a credit line to the bank, scuppering the conglomerate's claims it would use it to help secure bail for its jailed boss. Sahara, once one of India's most high-profile firms, told the...
  • Supreme Court gives Sahara 3 months to submit final proposal to raise funds March 23, 2015

    Mumbai: The Supreme Court on Monday gave conglomerate Sahara another three months to come up with a final proposal to raise funds against its assets to secure bail for its founder Subrata Roy, who has been held in a New Delhi jail for more than a year. Sahara has made several...
  • Mirach to file USD 400 million defamation suit against Sahara March 17, 2015

    New Delhi: US-based Mirach Capital said on Tuesday it is initiating a $ 400 million defamation lawsuit against Subrata Roy-led Sahara group, alleging that the failed financing deal with the Indian conglomerate has caused "irreparable harm" and "shaken investor confidence". Accusing Mirach Capital of cheating and forgery in the failed $2.05...
  • FIFA WC qualifiers: Confident India ready for hosts Nepal March 16, 2015

    Kathmandu: A confident Indian football team will look to get the better of Nepal one more time as it faces the Himalayan nation in the 2018 FIFA World Cup and 2019 Asian Cup second leg preliminary qualifying game (round 1) on Monday. India won the home leg 2-0 with goals from...
  • Subrata Paul to lead India against Nepal in football World Cup prelims March 11, 2015

    Guwahati: Experienced goalkeeper Subrata Paul will be wearing the captain's armband as coach Stephen Constantine begins his second stint with the Indian football team with a match against Nepal in the first leg of the 2018 World Cup qualifiers first round here tomorrow. This will be Englishman Constantine's first competitive assignment...
  • Sahara's Grosvenor House hotel in London put up for sale March 4, 2015

    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 March 3, 2015

    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 February 28, 2015

    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...
  • Upset Mamata Banerjee clips TMC MP Mukul Roy's wings, appoints new party office bearers February 14, 2015

    Kolkata: Upset with party MP Mukul Roy skipping the meeting, Trinamool Congress chief and West Bengal Chief Minister Mamata Banerjee on Saturday clipped his wings and announced new office bearers. TMC MP Subrata Bakshi has been appointed All-India additional General Secretary, MP Dinesh Trivedi is All India Vice President...
  • 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...
  • Saradha scam: Mamata Banerjee should be removed as West Bengal CM, says Kunal Ghosh January 28, 2015

    Kolkata: Suspended Trinamool Congress (TMC) Kunal Ghosh, who is in custody in the multi-crore Saradha chit fund scam, on Wednesday said Mamata Banerjee should be removed from the post of West Bengal Chief Minister. "All those who are accused in the Saradha chit fund case should resign and face probe and...
  • Enhanced security measures are in place ahead of Obama's visit: Army January 24, 2015

    "Sensitive areas near the border are under surveillance. Enhanced security measures are in place ahead of US President Barack Obama's visit," said Subrata Saha. ...
  • I-League: Royal Wahingdoh beat Salgaocar January 24, 2015

    Margao: Royal Wahingdoh defeated hosts Salgaocar FC 1-0 in an I-League match at the Fatorda Stadium on Friday. Jackichand Singh netted the game-clinching goal for side from northeast in the seventh minute, capitalising on a miscommunication between goalkeeper Subrata Paul and defender Augustin Fernandes. He controlled a long ball sent from team-mate...
  • '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...
  • TMC minister Manjul Krishna Thakur resigns from Mamata Banerjee government, joins BJP January 15, 2015

    Kolkata: In a jolt to West Bengal's ruling Trinamool Congress (TMC), minister Manjul Krishna Thakur on Thursday quit the ministry and joined the Bharatiya Janata party (BJP). Thakur, who holds the refugee, relief and rehabilitation portfolio in Chief Minister Mamata Banerjee's cabinet and his son and panchayat functionary Subrata Thakur joined...
  • 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...
  • Tight security in Kashmir ahead of PM Modi's rally December 7, 2014

    Srinagar: A thick security blanket has been thrown around the city for Prime Minister Narendra Modi's maiden election rally in Kashmir as helicopters were deployed on Sunday for surveillance over the Sher-e-Kashmir Cricket Stadium, the venue of the event, and adjoining areas. "The security grid is in place and you...
  • 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...