Insurance Regulatory and Development Authority has permitted Sahara Group to enter life-insurance segment, and issued 12 letters of intent to insurance broking entities, including three having foreign equity stake, to conduct business in India.
To locate genuine investors who may have deposited money with Sahara, the regulator also wants to issue public notices in regional language newspapers.
Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid to buy a new franchise. It is learnt that top corporate houses like Sahara Group, Videocon Enterprises, ICICI are among the other bidders, while guardians of the law of the game Marylebone Cricket Club (MCC) are also in the running for the Pune franchise.
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
Senior advocates Kapil Sibal and Mukul Rohatgi, appearing for Sahara, has sought time till August 15 for realisation of the cheque and giving a road map for depositing the remaining amount.
Sebi says Sahara investors refunded over Rs 42 cr.
The apex court told Roy that his proposal of paying Rs 1,500 crore, if the auction process was halted or postponed, was unbelievable.
The Sahara group's problems continue, with rating agency CARE cutting its 'BBB' ranking for Sahara Hospitality Ltd's (SHL) long-term bank facility to 'BBB-', due to sub-optimal financial and operational performance.
Rahul also posted a document purporting to show 'cash payments to Modi ji'.
RBI has sought to stop one of its firms from disposing off assets.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Pune Warriors India are disappointed at being axed from the IPL but expressed hope that it would not be the end of the road as far as their relationship with the BCCI is concerned.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
The case based on "random materials" like loose sheets, papers, e-mail print outs is "merit less" as they are "inadmissible materials" having "no evidentiary value under the law, the court said.
The Chief Justice said that some people play with the dignity of the court and there were some lawyers who are disrespectful towards the court.
Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog.
Accused of persistent non-compliance, Sahara group on Tuesday offered Sebi fresh bank guarantees for Rs 22,500 crore and help in verifying investors including those the group claims to have already refunded.
From November 12, Vistara aircraft will be operated under Air India's banner, identifiable by a special four-digit flight code beginning with '2'. For example, flight UK 955 will become AI 2955, making it easier for customers to recognise when booking on airindia.com after this date.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
Sahara cousel Kapil Sibal said he was preparing an application.
Sahara was to provide a bank guarantee from HSBC.
After selling land in Gurgaon for Rs 1,211 crore recently, the Sahara group is believed to have finalised two more realty deals, one in Mumbai and another in Jodhpur, for Rs 1,250 crore.
Sebi sets Sept 30 deadline to apply for Sahara refund
The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount.
Shares of healthcare services major Max Healthcare Institute have gained over 23 per cent since the start of this month and the stock crossed the Rs 1 trillion mark on September 24. On September 25, it closed 989.85 apiece at the NSE. The gains were cornered on the back of a strong outlook for the sector and aggressive expansion plans for the chain led by acquisitions and organic growth.
Suitors came with all-cash offers but were rebuffed
As Sahara India chief Subrata Roy continues negotiations with potential investors to raise funds to secure his release from jail, a senior group executive has proposed a 'contribution scheme' to raise Rs 2,500-3,000 crore ( 25-30 billion) from two lakh members of its parabanking division.
More properties are expected to go under the hammer in the coming days.
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
Holding that it was playing "hide and seek" and cannot be trusted any more, the Supreme Court on Monday directed the Sahara group to hand over title deeds of its properties worth Rs 20,000 crore (Rs 200 billion) to SEBI warning that failure to comply would mean Subrata Roy cannot leave India.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
The city's 24-hour Air Quality Index (AQI), recorded at 4 pm daily, stood at 417, making it the worst in the country. On Friday, the AQI level was 396.
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.
Tightening its noose around Sahara group, market regulator Sebi on Tuesday asked Sahara group chief Subrata Roy and three other top executives to submit details of their assets, bank accounts and tax returns by April 8 followed by personal hearings on April 10.
Roy, who has been in jail for over five months, said that he cannot reveal the name of the party and the bank, saying that their confidentiality has to be protected till the deal is signed.
The Supreme Court on Thursday warned the Sahara Group to reveal source of Rs 22,885 crore (Rs 228.85 billion) which it claimed to have refunded its investors or be ready to face inquiry by CBI and Registrar of Companies.
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.
The liquidator said the properties are being sold under two distinct phases over a period of two days
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