Sahara Group chief Subrata Roy passed away on Tuesday due to a cardiorespiratory arrest after a prolonged illness, a company statement said. He was 75. He was 75. According to the company statement, he passed away at 10.30 pm due to cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
No reason was given for his resignation.
'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 SAT had listed the appeal for 'admission' today, but decided to post the matter for March 11 before the Tribunal's presiding officer.
Before surrendering to the police he clarified that he was no absconding.
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.
Sebi on Wednesday ordered the attachment of bank and demat accounts of Sahara Group chief Subrata Roy and three others to recover Rs 6.48 crore for violating regulatory norms by two group companies. The recovery proceedings have been initiated against these four persons for violating regulatory norms in the issuance of optionally fully convertible debentures (OFCDs) by two group companies. Apart from Sahara, others whose bank and demat accounts were attached are Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bharrgava.
The summons for personal appearance of Roy and three other directors of two Sahara firms were issued by Sebi to examine them for ascertaining details of their personal assets, as also the investments and assets of the companies, to move ahead with sale of immovable assets for realisation of money to be refunded to the investors.
Sahara offers new plan for Subrata Roy's release
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 also sought permission to sell its properties in Bangalore.
Sushanto Roy and Seemanto Roy quit the board of Sahara India Real Estate Corp in Feb-Mar 2008; firm filed Red Herring Prospectus on March 13, 2008
The Supreme Court has extended the parole of Sahara chief Subrata Roy till July 11 to enable him to deposit Rs 200 crore (Rs 2 billion) with SEBI.
Having offered unconditional apology to SC, Subrata Roy can now try convincing apex court why he failed to appear before it
As Sahara group chief Subrata Roy was arrested this morning amid high drama, son Seemanto said his father "wilfully submitted" before the Lucknow police.
Roy was summoned by the market regulator Sebi on Wednesday to ascertain details of his personal and two company assets that could be sold to generate over Rs 24,000-crore (Rs 240-billion) worth funds required to be returned to the investors.
A lengthy court battle between Jet Airways and Air Sahara over their failed takeover deal does not seem inconceivable, as Sahara Group chief Subrata Roy has now moved a local court seeking stay on refund of Rs 500 crore
The Allahabad high court on Thursday dismissed the habeas corpus petition claimed to have been filed on behalf of the ailing Sahara group chairman Subrata Roy
The Supreme Court will hear Subrata Roy's plea against his detention on Thursday.
Sahara Group chief Subrata Roy and two directors have been in Tihar Jail since March 4.
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
Besides Roy, the apex court also granted parole to one of jailed Sahara directors Ashok Roy Choudhary, who is a relative of Subrata.
Subrata Roy has been in Tihar jail since March 4, 2014.
Subrata Roy, the self-styled managing worker of Sahara India Pariwar, India's biggest private-sector employer, will appear before the Supreme Court on Tuesday after spending the weekend in custody at a government nature-reserve guest house.
The Sahara's is a high-profile refund case involving an estimated Rs 24,000 crore (Rs 240-billion) payment to over three crore (thirty million) investors.
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.
Sahara Group chief Subrata Roy was granted interim bail on Wednesday by the Supreme Court.
Roy met 3 potential buyers for an hour amid tight security.
He wanted 15-day relief to attend aunt's cremation.
A bench of justices K S Radhakrishnan and J S Khehar considered the application of the group seeking modification in the order in chamber.
London-based Indian Journalist's Association (IJA) has sent a notice to Sahara Pariwar chairman and managing worker Subrata Roy asking his group not to prevent journalists from discharging their duties.
Shares of two Sahara firms fell by up to 5 per cent on Wednesday, after the group's chief Subrata Roy and two directors were jailed for a week for not complying with the Supreme Court order on refunding around Rs 20,000 crore (Rs 200 billion) of investors money.
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.
No one knows when and how the powerful corporate giant was actually carted from Lucknow's state forest guest house.
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 group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
In a setback to Sahara Group chairman Subrata Roy, the company on Thursday informed the Supreme Court that it will not be able to deposit Rs 10,000 crore (Rs 100 billion) to release Subrata Roy from jail.
The apex court asked Securities and Exchange Board of India to release title deeds of the property to be sold by Sahara in favour of purchasers for arranging the money.
The Supreme Court on Wednesday has issued a non-bailable warrant against Sahara chief Subrata Roy for his failure to appear in court.
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