Sahara Group chairman Subrata Roy, who reached a compromise with the Board of Control for Cricket in India to pave the way for Pune Warriors' participation in the IPL, has demanded an open auction without any player retention to make the cash-rich Twenty20 league more entertaining.
That's the amount payable by the Sahara group firms, according to Sebi's latest statement
The Sahara Group on Tuesday approached the Supreme Court, seeking contempt action against the Lucknow Development Authority, for carrying out certain demolitions at Sahara Saher against the apex court's order to maintain status quo.The LDA, acting on a direction from the state government, on Monday pulled down some temporary structure and barricade and filed an FIR against the officials of the Sahara Group, saying these were erected after the apex court's order of status quo.
It's business as usual for Sahara in some places, but collection agents fend tough questions from investors.
Genuine investments identified so far is Rs.1.08 cr out of around Rs 24,000 cr.
The BCCI on Sunday decided to take all the "outstanding issues" concerning the aggrieved Sahara Group to its Working Committee meeting on Monday which is expected to give finishing touches to a compromise formula aimed at breaking the week-long stalemate.
Sahara group promoter Subrata Roy said he will take his newly acquired Indian Premier League (IPL) team public by 2013, the second year of operations, and is open to having investors take a minority equity stake in the franchisee.
Land parcels acquired for 58 new projects, which are yet to be launched.
Sahara Group's recent statement says that the total fund received and raised from public since 1978 till September 30, 2012 with accrued interest, including life insurance policy holders' fund, mutual funds, Credit Cooperative Q shop customers advance, bank loans in India and overseas, etc" stood at Rs 225,000 crore.
Admitting Sahara's plea, a bench headed by Chief Justice S H Kapadia listed the matter for further hearing on January 20.
The Supreme Court on Wednesday pulled up Sahara group for issuing public advertisements accusing SEBI of being a "sarkari gunda" (government goon) for taking action against it for not refunding Rs 20,000 crore (Rs 200 billion) to investors.
Sahara accuses regulator of injustice, bad intent.
Citing the SC order in Sahara case, Sebi has passed orders against at least five companies and 21 individuals charged with collecting thousands of crores fraudulently
The Supreme Court on Wednesday dismissed Sahara group's plea for review of its verdict directing its two firms to refund around Rs 24,000 crore to their investors with 15 percent interest per annum.
Harvinder Singh was one of India's most promising pacers in the 1990s having played three Tests and 16 ODIs.
Private carrier Jet Airways, which is engaged in a legal battle with Sahara group over the failed deal to acquire Air Sahara, is understood to be holding discussions with the Sahara top brass for an out-of-court settlement.
The Tribunal will hold on Saturday its 'preliminary hearing' of four petitions in this matter related to the high-profile case involving a refund of over Rs 24,000 crore (Rs 240 billion) raised through 'various illegalities' by two Sahara companies.
Roy was allowed by the Supreme Court to use the jail's conference room to negotiate sale of his hotels in order to collect Rs 10,000 crore (Rs 100 billion) for his bail.
Sahara also sought permission to sell its properties in Bangalore.
The deal, struck by group firm Aamby Valley for 470 million pounds (about Rs 3,300 crore), makes it one of the largest acquisitions in the hospitality space by an Indian company.
The order, concerning debentures issued by two group companies, is subject to Supreme Court clearance
A 'communication dated May 6, 2014 received from Justice J S Khehar was placed before the Chief Justice of India on May 7.
The Tribunal, in its last hearing in Mumbai on March 23, decided to hold its final hearing in the matter here in the National Capital on March 26.
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
Mirach Capital rejected accusations of indulging in forgery.
The new IPL team of the Sahara India will be known as 'Sahara Pune Warriors' as the corporate house unveiled the name and logo of its franchise at a grand ceremony in Pune on Saturday.
Sahara will save Rs 400 crore (Rs 4 billion) annually by pulling out IPL team Pune Warriors India and not re-bidding for national team sponsorship.
The Supreme Court on Friday said Sebi can take action against Sahara if it does not provide details about investors from whom the company had raised Rs 24,000 crore (Rs 240 billion).
A special IAF plane carrying Vajpayee landed at the Amausi airport in Lucknow at 1850 IST.
The appearance on June 10, however, will be through recorded video clippings.
Sebi wants SC to initiate contemp proceeding against Subrata Roy for not complying it the regulator's orders.
A spokesperson said Sahara group is not into business with Trinity.
The companies have been collecting money through different schemes from investors which has been estimated at several millions.
It is one of the three marquee hotels owned by Sahara outside India.
They have snapped ties with cricket but the Sahara Group has renewed its association with Indian hockey signing a five-year sponsorship deal with Hockey India.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances