Earlier, the top court said it had been "taken for a ride" by the Sahara group by its past conduct and asked it to submit a roadmap for paying the balance amount
SC wanted to know how it encashed securities deposited with RBI.
Force India has been re-named Sahara Force India after the Sahara Group bought stake in the Vijay Mallya-owned Formula One team. As per the agreement between the parties, Sahara Group and Mallya's UB Group will have 42.5 percent stake each in the team.
The company has been given time till June by mortgage holders Reuben Brothers
The Sahara case reveals that, in today's environment, court intervention is what makes a major difference.
The NBFC was registered on December 1998, with an office in Lucknow.
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
The cause list put on the apex court website on Monday, however, showed that the case, which was listed before a special bench of justices K S Radhakrishnan and J S Khehar "stands deleted and the same is adjourned".
The group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
The Sahara Group had earlier sought 18 months' time to repay around Rs 9,000 crore balance amount of the principal amount of Rs 24,000 crore.
The Sahara Group on Wednesday accused the BCCI of "betrayal of trust" while rejecting claims of the Board that the IPL team is to be blamed for the controversy surrounding the franchise fee, leading to Pune Warriors pulling out of the Twenty20 tournament.
With Sahara India chief Subrata Roy behind bars, the country's first seaplane service from the megapolis to Aamby Valley City, which is run by the Sahara group, was today grounded for the time being.
Market watchdog Sebi has asked various banks to provide it all account details of the Sahara group as well as their promoters and directors, and is also seeking help from RBI, ED and Financial Intelligence Unit as part of a multi-pronged probe into the entity.
The combined market capitalisation of the two listed companies of the Sahara group whose assets have been ordered frozen by the Securities and Exchnage Board of India is just Rs 230 crore.
The Supreme Court on Tuesday said that the Securities and Exchange Board of India was entitled to seek all necessary information from two Sahara group firms on how resources were being raised but refused to stay the companies' ongoing fund-mopping exercise.
Sahara group, whose chief Subrata Roy who was in jail for over two years in connection with a long-running dispute with markets regulator Sebi is now out on parole
The Tribunal adjourned till Monday this matter, which was listed for 'admission' this morning.
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.
Sahara had initiated legal action against the US-based firm.
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
The Supreme Court on Monday rapped Sahara group for not refunding Rs 27,000 crore to investors, who had put their money into its two companies.
Terms it financial inclusion, says top execs not members.
It was business as usual at Sahara Sahar, the sprawling estate in the posh Gomti Nagar area, where Roy's residence and the Group's corporate communication wing are located.
Integrated entity for realty, infrastructure sector
The bench, which said that Sahara group must refund the amount by August 31 or face personal appearance, however, refrained from passing orders as the counsel for Roy pleaded that no such order be passed without hearing him and posted the case for hearing on July 24.
Holding that it was playing 'hide and seek' and cannot be trusted any more, the apex court on Monday directed the Sahara Group to hand over title deeds of its properties worth Rs 20,000 crore to Securities and Exchange Board of India warning that failure to comply would mean Subrata Roy cannot leave India.
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.
Regulator has set up a special cell to carry out the refunding operation.
The apex court had also asked Sahara Group to provide it within two weeks the list of "unencumbered properties" which can be put for public auction to realise the remaining over Rs 14,000 crore
The Supreme Court on Monday said the plea of two Sahara group firms for extending time to refund Rs 24,000 crore to their investors with 15 percent interest would be heard by the same bench which had ordered the refund on August 31 last year.
The Sahara group has accused Mirach of 'cheating and forgery'.
The company wanted to pay off the depositors' money in instalments.
On February 13, Sebi passed two separate orders, together running into 160 pages, directing attachment of properties and freezing of accounts.
Sahara has asked its employees and associates to reach out to 12 million people and conduct a survey.
In the high-profile case involving repayment of money to bondholders of two Sahara group firms, the Securities and Appellate Tribunal on Thursday dismissed a plea for extension of deadline for submitting investor documents to the market regulator Sebi.
Sahara says awaiting further clarity on issue from regulator, suggests 'human error' or investor confusion led to mismatch.
The company is seeking more time to submit documents related to about three crore investors in the case involving two of its group companies.
In the first week of January, the two Sahara companies-- Sahara India Real Estate Corp and Sahara Housing Investment Corp -- moved the Supreme Court saying the money deposited with Sebi -- Rs 5,120 crore (Rs 51.2 billion) -- was more than adequate to meet payments to investors and the matter was to come up for hearing next week, the counsel said.
The Sahara Group said on Tuesday it would build 50 self-sufficient townships in Uttar Pradesh with modern facilities and amenities at an investment of over Rs 20,000 crore (Rs 200 billion).
The high-profile saga -- which on Friday saw the arrest of flamboyant Sahara group chief Subrata Roy, who calls himself 'Managing Worker' of his business empire -- has seen many dramatic events along the way.
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