"My judicial custody in Tihar jail and being confined to a prison cell with just the basic amenities definitely came as a rude shock."
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.
Sahara group has sought extension of negotiation facilities in the Tihar jail here for its chief Subrata Roy by a further 45 days.
The Supreme Court on Friday reserved its order on interim bail plea of Sahara Chief Subrata Roy who pleaded to the court to show 'raham' (mercy) and allow him to come out of jail to sell off his properties to deposit Rs 10,000 crore (Rs 100 billion) with SEBI as directed to get regular bail.
Sahara Chief Subrata Roy, who has been in jail for the last four months, on Thursday pleaded before the Supreme Court to allow him parole for at least 40 days to sell his properties to raise Rs 10,000 crore to get bail and expressed his willingness to dispose of luxury hotels in New York and London.
Looking to raise funds to ensure release of its chief Subrata Roy from jail, Sahara has sold a big land parcel at the outskirts of the national capital for Rs 1,211 crore to Gurgaon-based developer M3M India Ltd.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
The liquidator said the properties are being sold under two distinct phases over a period of two days
Senior advocate Kapil Sibal, representing Roy, said it was quite difficult to raise money as the properties have already been attached.
'A law firm checked credentials of Karan Ajit Judge and Nouam'
By today's standards, when the cynicism about the corrupt system is rampant, New Delhi Times seems mild. But it was upsetting enough to have problems with film distributors. Even television refused to run it. Deepa Gahlot re-introduces you to this 1986 classic.
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.
Shares of Sahara Housingfina Corporation on Monday fell 4.39 per cent on the BSE after Sahara chief Subrata Roy was arrested by the Lucknow police.
The apex court had earlier imposed a condition that Roy will be freed on bail only if he pays Rs 10,000 crore (Rs 100 billion) out of which Rs 5,000 crore (Rs 50 billion) has to be in bank guarantee and rest Rs 5,000 crore (Rs 50 billion) in cash.
'I am glad Aranyer Din Ratri is being shown at Cannes.' 'The film was better appreciated outside India even when released originally.'
Sahara Group chief Subrata Roy is still interested in buying a majority stake in Liverpool and discussions are taking place, although they are at an early stage, according to reports published on Wednesday.
The Supreme Court on Wednesday directed Sahara chief Subrata Roy to deposit Rs 300 crore by September 16.
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.
Sahara Chairman Roy was arrested on February 28 and has been held in a Delhi jail since March 4.
The estimated costs of these weddings start from Rs 100 crore and go up to Rs 700 crore.
The company wanted to pay off the depositors' money in instalments.
"I am really disappointed with the way the party is functioning. I am fed up with so many allegations of corruption levelled against the party and the government. I also do not support the way the issue of Sandeshkhali was handled," he said while maintaining that the dual issues of corruption and Sandeshkhali were the primary triggers for his decision to quit.
Indian tycoon Subrata Roy is putting up the two trophy properties and another luxury New York hotel for sale to raise $1.6 billion for the bail bond that will get him out of Tihar, a sprawling New Delhi prison complex that houses about 12,000 inmates.
SAT has issued order to freeze Subrata Roy's account.
The Supreme Court asked the Group to come out with a logical and acceptable proposal on paying Rs 10,000 crore.
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
Sonu Nigam turned 50 on July 30, and hosted a grand birthday bash in Mumbai on Saturday night.
On Feb 26, SC issued an arrest warrant against Subrata Roy after he failed to turn up in court for hearing
The Sahara case reveals that, in today's environment, court intervention is what makes a major difference.
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.
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".
Subrata Roy has been held in jail for more than a year.
Excerpted from Sahara: The Untold Story by Tamal Bandyopadhyay.
Seven TMC MLAs within the Krishnanagar Lok Sabha constituency of party MP Mahua Moitra have written to Trinamool Congress supremo Mamata Banerjee demanding her removal as Nadia Uttar organisational district president. The lawmakers allege that Moitra has been ignoring Assembly representatives while undertaking party programmes and indulging anti-social elements, causing significant damage to the party's image. The MP has responded by dismissing the complaint as "district-level rubbish."
Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog.
Battling a long-drawn legal tussle with Sebi, conglomerate Saharas claim to have as many as 4,799 establishments under its fold, but its 'Chief Guardian and Managing Worker' Subrata Roy holds board seats on just a handful of registered group companies.
Roy will also have to submit his passport to the court.
Roy, the former second-in-command of the TMC who joined the saffron party in November 2017, has been distancing himself from the BJP for the last several days.
Former head of McKinsey & Co,c, is not alone in writing a book on his life after serving a prison term.
'My wife, family members as well as members of the workers will be trustees.' 'The trust will take all decisions -- no family member can individually take any decision.'
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