India's Sahara Group is in advanced talks with Manchester United to become the new shirt sponsors of the English Premiership champions, domestic media reported on Thursday.
The new IPL team of the Sahara India will be known as 'Sahara Pune Warriors' as the corporate house unveiled the name and logo of its franchise at a grand ceremony in Pune on Saturday.
Hours after Jet Airways closed the deal to acquire Air Sahara, the Lucknow-based airline's president Alok Sharma quit his post but said he would continue to facilitate its smooth transition to 'Jetlite'.
A special IAF plane carrying Vajpayee landed at the Amausi airport in Lucknow at 1850 IST.
Senior advocate S Ganesh, appearing for Roy, submitted that it may not feasible for the group to dispose of its Indian properties as the real estate prices have crashed down since June this year.
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.
The Supreme Court on Wednesday pulled up Sahara group for issuing public advertisements accusing SEBI of being a "sarkari gunda" (government goon) for taking action against it for not refunding Rs 20,000 crore (Rs 200 billion) to investors.
Sahara, which already has a more than $900 million loan from Bank of China on the three hotels, including the Plaza in New York, had sought the court's permission to take over the loan and refinance it from another creditor and raise a fresh loan of $650 million.
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
A criminal case has been registered against the group by the agency in connection with non-payment of crores of rupees to depositors after it got some fresh reports in this regard from the Sebi.
Trinamool Congress on Saturday removed Mukul Roy, a former confidante of Mamata Banerjee, from the key post of party general secretary.
The group also said that Rs 20,000 crore was being demanded from it as 'security' because the Supreme Court has said that 'after verification of Sebi, if there are partially or fully fictitious accounts then that amount will go to government account'.
The apex court on August 31 last year directed the two Sahara group companies to refund the money to their investors within three months with 15 per cent interest per annum.
The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount.
Suspicions have swirled for years that many of Sahara's millions of investors are fictitious names
Draped in black shawls, Trinamool Congress MPs on Monday staged a protest outside Parliament House against the arrest of West Bengal minister Madan Mitra in the Saradha chit fund case, accusing the Centre of misusing the Central Bureau of Investigation.
Sahara was in funding talks with Mirach
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
Sahara India needs to pay back $5.3 billion, raised from millions of small investors through the sale of bonds ruled by the Supreme Court to be illegal, before founder Subrata Roy can be released.
According to the petition, during the 2013 IPL, the matches held in Pune and Mumbai began at 8 pm and went on till midnight, including the prize distribution ceremony.
Sahara cousel Kapil Sibal said he was preparing an application.
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.
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.
Trinamool Congress chief Mamata Banerjee on Saturday carried out a major reshuffle in the party set-up
The criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Sebi.
Force India's 2015 Formula One car will not make its track debut until the third and final pre-season test in Barcelona some two weeks before the first race in Australia, the team said on Friday.
A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19.
The NBFC was registered on December 1998, with an office in Lucknow.
Accompanied by party leaders Dimple Yadav, wife of SP chief Akhilesh Yadav, Rajendra Chowdhury and Kironmay Nanda, besides businessman Subrata Roy Sahara, Jaya Bachchan, who turns 70 next month, filed her nomination at the Central Hall of the state assembly.
Mirach said it has remitted $2.625 million to the Sebi-Sahara Fund.
A bench headed by Chief Justice R M Lodha dismissed the PIL and expressed concern over such petitions being in the Supreme Court.
According to the petition, during the 2013 Indian Premier League (IPL), the matches held in Pune and Mumbai began at 8 pm and went on till midnight, including the prize distribution ceremony.
Sahara told the top court this week it was considering other proposals to raise funds, including selling a luxury development outside Pune.
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