Pune Warriors India will finally get to play at home this Indian Premier League as the Rs 260-crore international cricket stadium -- just 20kms from the city -- is set to be inaugurated in Pune, on Sunday.
Hours after Jet Airways closed the deal to acquire Air Sahara, the Lucknow-based airline's president Alok Sharma quit his post but said he would continue to facilitate its smooth transition to 'Jetlite'.
Sahara said it has initiated legal action against Mirach Capital.
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.
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.
The group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
"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 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.
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.
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.
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.
Sahara was to provide a bank guarantee from HSBC.
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.
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.
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.
'The entire explanation of the episode is difficult to digest.'
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
The apex court had asked Roy to pay Rs 10,000 cr.
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.
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.
A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19.
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 'communication dated May 6, 2014 received from Justice J S Khehar was placed before the Chief Justice of India on May 7.
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.
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.
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.
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.
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.
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.
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.
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At the Kukrail guest house, Roy is under the watch of a DSP, three station officers and armed constables.
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
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