"My judicial custody in Tihar jail and being confined to a prison cell with just the basic amenities definitely came as a rude shock."
"SIICL, which is one of the group companies belonging to Sahara group, as such cannot transact the business of non- banking financial institutions," RBI said on Friday.
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 group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
Having lost three successive matches, Pune Warriors will look to arrest the slide when they take on neighbours Mumbai Indians in an Indian Premier League match at the Subrata Roy Sahara Stadium on Thursday.
Buoyed by an upset win over Mumbai Indians in their tournament-opener, Pune Warriors will look to affirm their superiority over Kings XI Punjab when the two teams lock horns in the fifth edition of the Indian Premier League at the newly-constructed Subrata Roy Sahara Stadium in Pune on Sunday.
Sebi suggested Roy be allowed to step out of Tihar jail for a few hours every day to negotiate the sale of his foreign properties over video conference.
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.
In an apparent bid to thwart other airlines from poaching on its employees, priave carrier Air Sahara on Tuesday announced its new human resources policy offering a 40 per cent salary hike to employees.
Sahara was to provide a bank guarantee from HSBC.
The Supreme Court will on Tuesday deliver its verdict on Sahara Chief Subrata Roy's petition challenging its decision to send him to jail for not complying with its order to deposit around Rs. 20,000 crore (Rs 200 billion) of investors money with SEBI.
The demolition of Sahara Shahar's illegal encroachments is symbolic. The real assault will be executed at the right psychological and emotional moment, in true Mayawati style. Make no mistake.
England's stand-in Twenty20 skipper Eoin Morgan has said that his team will carry the confidence of 2-1 Test series victory over India into the two-match T20 series, commencing at the Subrata Roy Sahara Stadium in Pune on Thursday.
A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19.
'The entire explanation of the episode is difficult to digest.'
Subrata Roy has been in a Delhi jail since March 4 after failing to appear at a contempt hearing in his group's legal battle with the Securities and Exchange Board of India over the company's failure to repay investors who bought the outlawed bonds.
The apex court had asked Roy to pay Rs 10,000 cr.
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
A 'communication dated May 6, 2014 received from Justice J S Khehar was placed before the Chief Justice of India on May 7.
The objective of Sahara Power Fund would be to invest "in equities and equity-related securities of companies engaged in the business of generation, transmission, distribution of power or in those companies engaged directly or indirectly in any activity associated with power sector", said the draft document filed with the market regulator SEBI.
Sahara India Financial Corporation on Tuesday got a fresh lease of life, with the Reserve Bank of India allowing it to accept fresh deposits that mature in three years. The move ends the two-week-long uncertainty over fates of the 42.5 million depositors of the Subroto Roy-controlled residuary non-banking company.
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 court also issued notice to the Income Tax department.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The top brass of BCCI and the aggrieved Sahara Group will meet in Mumbai on Sunday in a bid to break the stalemate which prompted the corporate giant to withdraw sponsorship of the Indian cricket team and also pull out of the IPL.
That will be the last pound of flesh Mulayam Singh and Amar Singh wish to extract for the support they are giving the dying Congress party. Fortuitously, the Congress too wants a similar outcome.
Other bidders include Abu Dhabi Investment Authority.
Roy was receiving the same treatment as other inmates, the only privilege being that he gets a bed as he is over 60 years of age.
A criminal case has been registered against the group by the agency in connection with non-payment of crores of rupees to depositors after it got some fresh reports in this regard from the Sebi.
In the midst of its bloody battles with the Supreme Court and Sebi, Sahara group gets the Calcutta high court to issue a stay order on the publication of the book, Sahara: The Untold Story, by Tamal Bandyopadhyay.
It is intriguing that the CBI has shown little interest in the most scandalous and biggest collective investment scheme ever, from the Sahara group, asserts Debashis Basu.
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At the Kukrail guest house, Roy is under the watch of a DSP, three station officers and armed constables.
Abraham, a 1982 Kerala cadre IAS officer, investigated Sahara during his tenure as whole-time member at Sebi.
A bench of Justice G S Singhvi and K S Radhakrishnan also issued notice to Roy and his two employees, who were working with his news channel, seeking their response on why probe be not initiated against them.
SEBI on Wednesday told the Supreme Court that Sahara group overvalued its properties and did not hand over all original title deeds of assets worth Rs 20,000 crore (Rs 200 billion) as per its direction.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
