In March, the Registrar of Companies, Uttar Pradesh and Uttarakhand, based in Kanpur, sent a notice to Sahara India Real Estate Corp for using a third party's bank accounts to receive funds from investors.
The bench directed the companies to place before it their 2010-11 balance sheets and statements of accounts for November 2011 by January 8, the next date of hearing.
Israeli businessman Yitzhak Tshuva, who controls the Elad Group, has sold his 60 per cent stake in the Plaza Hotel, a report in the Israeli daily newspaper Haaretz said.
Refuting the contention of Roy who had submitted that he cannot be penalised for non-refund of the money by Sahara India Real Estate Corp Ltd and Sahara India Housing Investment Corp Ltd, the market regulator said that the business tycoon held 70 per cent stake in the companies and liable for contempt of court punishable upto to six months imprisonment or fine.
Sahara group chairman Subroto Roy on Friday celebrated his 58th birthday, making a rare television appearance, which he used to scotch rumours about his health, assert that he was "absolutely disease free" and deny that his Rs 50,000 crore business e
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.
Sebi chief U K Sinha questioned the credibility and feasibility of Shara's refund claims.
Sahara made an overseas direct investment against RBI rules.
Subrata Roy's parole, granted on humanitarian grounds following his mother's death.
The finance ministry and several agencies under it such as the Securities and Exchange Board of India (Sebi) and the Enforcement Directorate (ED), which are investigating the affairs of Sahara India Parivar, are worried about its exposure to National Spot Exchange Ltd (NSEL) products.
Force India boss Vijay Mallya says his partnership with the Formula 1 team's co-owner Subrata Roy stands strong despite the Sahara Group chief being in jail since March 2014.
As many as 3,268 title deeds in Sebi's possession would undergo scrutiny and be prepared for sale.
The appeal was mentioned before a vacation Bench headed by Justice Arijit Pasayat, which fixed June nine as the date for hearing the matter. The Bench allowed senior advocate P R Andhyrujina, who mentioned the matter, to file a special leave petition against the High Court order later in the day.
The petition says that Sahara group Chairman Subrata Roy had been kept in 'illegal detention' by his wife and some other senior officers of the company.
The Supreme Court asked the Group to come out with a logical and acceptable proposal on paying Rs 10,000 crore.
Suspicions have swirled for years that many of Sahara's millions of investors are fictitious names
Sahara Chairman Roy was arrested on February 28 and has been held in a Delhi jail since March 4.
The court, however, reserved its order on a fresh plea of Roy seeking modification of an earlier order by which he was asked to pay Rs 5,000 in cash besides a bank guarantee of an equivalent amount.
The 2025 Sony World Photography Awards has announced its National and Regional Award winners, celebrating talent from 56 countries.
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here are around 495,000 multi-millionaires worldwide (as on June 2014).
Sahara Group chief Subrata Roy and two directors have been in Tihar Jail since March 4.
Income Tax department raided office of the Sahara Group, owner of IPL's Pune team, at Aliganj in Lucknow on Thursday.
Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital.
The bench said it is evident that there was a difficulty for the group to sell its properties to arrange Rs 36,000 crore
The money is being refunded only in those cases where Sebi has not found any multiplicity during its verification process.
The Board of Control for Cricket in India will choose between Bharti Airtel and Sahara Group on Monday as the new team sponsor, as both are the only firms left in the fray at the end of the deadline for submitting the bids for rights along with the requisite security deposit.
Contrary to speculation that it was seeking to revise downward the value of Air Sahara, Jet Airways' move to make part payment till the pendency of other issues demonstrated its strong desire to acquire the rival airline.
A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for refunding the money from November end to first week of February, refused to grant more time.
The Sahara group on Tuesday made a fresh proposal before the Supreme Court for depositing Rs 20,000 crore (Rs 200 billion) investors' money with SEBI to secure release of its chief Subrata Roy.
Referring to Supreme Court's order against Sahara group as a benchmark for cases of unauthorized raising of money from public, Sebi has barred seven persons and one company from the markets for ten years for their involvement in the estimated Rs 1,500 crore 'StockGuru' fraud.
The group also said that Rs 20,000 crore was being demanded from it as 'security' because the Supreme Court has said that 'after verification of Sebi, if there are partially or fully fictitious accounts then that amount will go to government account'.
Looking to raise funds to ensure release of its chief Subrata Roy from jail, Sahara has sold a big land parcel at the outskirts of the national capital for Rs 1,211 crore to Gurgaon-based developer M3M India Ltd.
A bench headed by Justice Arijit Pasayat, while fixing the date for final disposal on October 21, extended the undertaking given by developer B Jeejeebhoy Vakharia and Associates asking it not to create any third party rights till then. Earlier, the court had sought reply from the builder and others.
During Friday's proceedings, senior advocate Fali S Nariman, appearing for the Sahara group, said that Sahara was not a listed company and only the government has jurisdiction over it and not market regulator Sebi.
Fed up with the tactics of Sahara Group and its chief Subrata Roy, the Supreme Court observed that judges would need to be "superhumans" to handle the pressures to handle frivolous litigations.
The income tax (IT) department seems to have quietly thrown a spanner in the works on the Securities and Exchange board of India (Sebi)'s two-year-long efforts to implement the Supreme Court order against the two Sahara group firms Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Invest Corporation (SHICL).
European and world club champions Manchester United have sent a shirt sponsorship proposal to the Indian conglomerate Tata Group. United's four-year, US $100 million contract with American International Group runs until May 2010 but the insurance giant said in January it would not be renewing the deal.
Sahara told the court it was working on new deals to raise funds.
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