The top court last week gave Sahara a final chance to raise funds.
All four societies were under common management of the Sahara group and had collectively garnered Rs 86,673 crore, including more than Rs 47,000 crore collected by Sahara Credit Cooperative Society Ltd from nearly 4 crore depositors.
Sahara accuses Mirach Capital of cheating, forging bank letter.
The sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
A spokesperson said Sahara group is not into business with Trinity.
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.
In the midst of its bloody battles with the Supreme Court and Sebi, Sahara group gets the Calcutta high court to issue a stay order on the publication of the book, Sahara: The Untold Story, by Tamal Bandyopadhyay.
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.
Suitors came with all-cash offers but were rebuffed
While Sahara maintains it has already repaid more than 93 per cent of the outstanding dues directly to the concerned bondholders and the remaining amount was just about Rs 2,500 crore (Rs 25 billion), it deposited Rs 5,120 crore (Rs 51.2 billion) to Sebi in December 2012 towards the investor refunds as per Supreme Court orders.
Sebi sets Sept 30 deadline to apply for Sahara refund
The Sahara group has accused Mirach of 'cheating and forgery'.
At the reserve price, these auctions will take the total fund raising to at least Rs 3,100 crore (Rs 31 billion).
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).
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 new cricket stadium being built by the Maharashtra Cricket Association (MCA) on the outskirts of Pune is to be named after Subrata Roy Sahara, the Chairman and Managing Worker of the Sahara Group.
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.
All three have cited personal reasons for giving up thepositions.
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.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
The company has been given time till June by mortgage holders Reuben Brothers
Suspicions have swirled for years that many of Sahara's millions of investors are fictitious names
Sahara has asked its employees and associates to reach out to 12 million people and conduct a survey.
Subrata Roy has been held in jail for more than a year.
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.
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.
The Supreme Court has given troubled conglomerate Sahara a month's time to explain why a receiver should not be appointed to auction off its properties.
Mirach said it has remitted $2.625 million to the Sebi-Sahara Fund.
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.
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 criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Sebi.
As many as 3,268 title deeds in Sebi's possession would undergo scrutiny and be prepared for sale.
Sahara Group chief Subrata Roy will not be allowed to leave the country with the Supreme Court today refusing to relax its order restraining him from going abroad till his company furnishes details of refunding Rs 20,000 crore of investors money.
The Sahara case reveals that, in today's environment, court intervention is what makes a major difference.
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
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
The group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
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.
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