Sahara offers new plan for Subrata Roy's release
Reports said that the two hotels can fetch up to $1 billion.
Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'
Lawyers said that assets are being sold and the group is depositing the money with Sebi.
Subrata Roy was arrested in March 2014 after the company failed to comply with a court order to refund money raised from millions of small investors by selling them bonds later ruled to be illegal.
'The India which was all about glamour and razzmatazz through which he could earn the trust of people of the other India, which was Bharat.'
The relationship between Sahara Group and the Indian Cricket Board had turned from bad to worse in the past month but after a "couple of not so cordial telephonic conversation" between the owners of Pune Warriors and the board top brass that had telling effect.
Sahara, in a statement on Wednesday, said a truck sent from its headquarters in Lucknow was refused entry by Sebi as it reached after the close of business hours on Septe-mber 10, the deadline imposed by the Supreme Court.
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
Jet to raise $400m and add 20 new aircraft for expansion.
A Sebi counsel said the caveat, filed on Saturday, aims to prevent any ex parte decisions.
The court allowed the group to re-auction certain properties in Ajmer, Firozabad, Vellore, Tiruchirappalli and Ujjain for which the bidding was at a much higher price
Former IPL chairman Lalit Modi on Saturday blamed BCCI President N Srinivasan's arrogant style of functioning for Sahara Group's decision to snap all the ties with the Cricket Board.
After the launch of a range of personal computers in the Indian market, Sahara Computers is planning to foray into manufacturing of board level computer components.
The deal size could be in excess of Rs 2,000 crore, though this could not be verified. Sivasankaran had invested close to Rs 1,800 crore in 2007 to take a 41 per cent stake in Aamby Valley. The Sahara Group is the majority investor, with a 51 per cent stake.
Justice D Y Chandrachud adjourned the case till January 19 after Jet and Sahara India Commercial Corporation Ltd pleaded for time to file additional affidavits.
The first demand draft of Rs 5,120 crore to be paid immediately.
Facing orders for freezing of bank accounts and attachment of properties, Sahara group Thursday night claimed the actions taken by Sebi are based on "old facts" and the orders for attaching assets of individuals is incorrect on part of the market regulator.
The bench asked the official liquidator, attached with the Bombay high court, to auction Aamby Valley properties, estimated to be worth Rs 34,000 crore, and directly report to it
HR head Gaurav Sharma blamed Sebi-imposed restrictions on operating bank accounts for the delay.
Senior advocate Rajeev Dhawan, appearing for Sahara, sought release of Sahara chief Subrata Roy on the ground of his "deteriorating" health and the fact that market regulator Sebi has already been authorised to sell 66 properties
Unable to verify or trace a large number of bondholders in Sahara refund case, Sebi has begun a process to consult the business conglomerate for verifying the genuineness of such investors.
The group also lauded 'Sebi's active cooperation' in the matter.
Charges retail franchises; says RBI tracking refund of Rs 71,000 cr to investors.
Supreme Court defers till Wednesday hearing on Sahara Group's plea.
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
Officials said the notice was issued by the taxman in January this year after the special audit of AVL's income for the Assessment Year 2012-13.
The company has terminated his services with effect from June 6, a senior Sahara group official said.
The Sahara Group has sought Supreme Court's permission to sell its shares in the Force India Formula 1 team as part of its effort to raise funds for the release of conglomerate's jailed chief Subrata Roy.
Income tax department has begun a survey in a few state offices of Sahara group's para banking operations to get details on depositors.
Ruling out the sale of Sahara TV following the takeover of its airline business by rival Jet Airways, a top Sahara group official on Tuesday said the company's entertainment wing was looking forward to expanding operations, with the launch of a new H
The sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
The Supreme Court has set conditions on the fund raising, however, and on Friday asked Sahara to obtain necessary approvals from the Indian central bank and other authorities to comply with foreign exchange rules.
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
The apex court was irked when Sebi claimed that the group had allegedly obstructed the process by writing a letter to the Pune police raising the issue of law and order at the prime property.
Marketed as a retail venture, Q Shop has been endorsed by top cricketers like Dhoni and Tendulkar to promote Q-shop as a fight against adulteration.
The companies have 90 days to deposit the money with Sebi, which has been tasked by the Supreme Court to return the money to the investors.
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