'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
Sebi on Wednesday ordered the attachment of bank and demat accounts of Sahara Group chief Subrata Roy and three others to recover Rs 6.48 crore for violating regulatory norms by two group companies. The recovery proceedings have been initiated against these four persons for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs) by two group companies. Apart from Sahara, others whose bank and demat accounts were attached are Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava.
Having offered unconditional apology to SC, Subrata Roy can now try convincing apex court why he failed to appear before it
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
The Supreme Court has extended the parole of Sahara chief Subrata Roy till July 11 to enable him to deposit Rs 200 crore (Rs 2 billion) with SEBI.
As Sahara group chief Subrata Roy was arrested this morning amid high drama, son Seemanto said his father "wilfully submitted" before the Lucknow police.
No reason was given for his resignation.
Sushanto Roy and Seemanto Roy quit the board of Sahara India Real Estate Corp in Feb-Mar 2008; firm filed Red Herring Prospectus on March 13, 2008
Besides Roy, the apex court also granted parole to one of jailed Sahara directors Ashok Roy Choudhary, who is a relative of Subrata.
Subrata Roy has been in Tihar jail since March 4, 2014.
Roy met 3 potential buyers for an hour amid tight security.
The SAT had listed the appeal for 'admission' today, but decided to post the matter for March 11 before the Tribunal's presiding officer.
Before surrendering to the police he clarified that he was no absconding.
The Supreme Court will hear Subrata Roy's plea against his detention on Thursday.
Sahara Group chief Subrata Roy was granted interim bail on Wednesday by the Supreme Court.
No one knows when and how the powerful corporate giant was actually carted from Lucknow's state forest guest house.
Subrata Roy, the self-styled managing worker of Sahara India Pariwar, India's biggest private-sector employer, will appear before the Supreme Court on Tuesday after spending the weekend in custody at a government nature-reserve guest house.
The Sahara's is a high-profile refund case involving an estimated Rs 24,000 crore (Rs 240-billion) payment to over three crore (thirty million) investors.
The summons for personal appearance of Roy and three other directors of two Sahara firms were issued by Sebi to examine them for ascertaining details of their personal assets, as also the investments and assets of the companies, to move ahead with sale of immovable assets for realisation of money to be refunded to the investors.
The Securities and Exchange Board of India (SEBI) has moved the Supreme Court, seeking the detention of Sahara Group Chairman Subrata Roy for violation of the Court's orders. The Supreme Court will hear the case in April.
Taking stern action against Sahara Group in the high-profile investor refund case involving over Rs 24,000 crore, market regulator Securities and Exchange Board of India on Wednesday ordered the freezing of bank accounts and attachment of all properties of two group firms and top executives, including Subrata Roy.
Sahara offers new plan for Subrata Roy's release
A lengthy court battle between Jet Airways and Air Sahara over their failed takeover deal does not seem inconceivable, as Sahara Group chief Subrata Roy has now moved a local court seeking stay on refund of Rs 500 crore
The Allahabad high court on Thursday dismissed the habeas corpus petition claimed to have been filed on behalf of the ailing Sahara group chairman Subrata Roy
London-based Indian Journalist's Association (IJA) has sent a notice to Sahara Pariwar chairman and managing worker Subrata Roy asking his group not to prevent journalists from discharging their duties.
The new cricket stadium being built by the Maharashtra Cricket Association (MCA) on the outskirts of Pune is to be named after Subrata Roy Sahara, the Chairman and Managing Worker of the Sahara Group.
The Supreme Court on Wednesday has issued a non-bailable warrant against Sahara chief Subrata Roy for his failure to appear in court.
The apex court asked Securities and Exchange Board of India to release title deeds of the property to be sold by Sahara in favour of purchasers for arranging the money.
The law is knocking at Sahara Group Chairman Subrata Roy's doors yet he manages to find a few well wishers. Former Indian cricket captain Kapil Dev has expressed concern over the arrest of Roy.
Sahara chief had recently made a plea before the apex court to pass an early order on his petition challenging his detention, saying temperature in the capital has gone up and he is not feeling well in jail.
Sahara Chief Subrata Roy was on Tuesday ordered to remain in custody for a week in Delhi by the Supreme Court which was unhappy over the proposal his group on the refund of investors' money as it has not come up with any concrete proposal.
A bench of justices K S Radhakrishnan and J S Khehar considered the application of the group seeking modification in the order in chamber.
An upset Sahara Group chief Subrata Roy lashed out at N Srinivasan on Friday and declared his company will not sponsor the Indian cricket team as long as the beleaguered Board of Control for Cricket in India president is at the helm.
Sahara's propensity to issue full-page advertisements indirectly targeting the court's wisdom every time it suffered a setback could have hardly helped its cause.
Jail officials, group to thrash out finer details to enable late night skype with Los Angeles-based buyers.
Selling anything from packaged food to home appliances, these kiosk-like shops have sales of Rs 40,000-Rs 50,000 a month in a busy locality, with 25-30 customers a day.
Calling him "chor", a man from Gwalior today threw ink on the face of Sahara chief Subrata Roy
It was tough to say if Roy was in police custody or vice versa.
The Supreme Court has denied to release Sahara Chief Subrata Roy on bail or parole.
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