The Tribunal, in its last hearing in Mumbai on March 23, decided to hold its final hearing in the matter here in the National Capital on March 26.
The Supreme Court is likely to pronounce on Wednesday its verdict on a plea of jailed Sahara Group chief Subrata Roy seeking modification of an earlier order asking him to pay Rs 5,000 crore (Rs 50 billion) in cash besides a bank guarantee of an equivalent amount for securing his release.
Pune Warriors India are set to play their IPL home matches in Ahmedabad after deciding to move away from their original home city of Pune following a dispute with the Maharashtra Cricket Association.
The Sebi is currently is in the process of selecting an In-Person Verification Agency to conduct face-to-face verification of an estimated three crore bondholders of two Sahara group firms, by checking their identify and address proofs.
Sahara will save Rs 400 crore (Rs 4 billion) annually by pulling out IPL team Pune Warriors India and not re-bidding for national team sponsorship.
Sahara Group pulled out of the Indian Premier League following financial dispute with the BCCI.
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.
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 Sebi, which has been mandated by the Supreme Court to facilitate refund of Rs 24,000 crore (Rs 240 billion) with 15 per cent annual interest to bondholders of two Sahara group firms after ascertaining their genuineness.
Referring to Supreme Court's order against Sahara group as a benchmark for cases of unauthorized raising of money from public, Sebi has barred seven persons and one company from the markets for ten years for their involvement in the estimated Rs 1,500 crore 'StockGuru' fraud.
The Sahara group today moved the Supreme Court seeking review of the verdict ordering it to refund Rs 24,000 crore, raised from investors through Optionally Fully Convertible Debentures (OFCDs).
The Supreme Court on Wednesday dismissed Sahara group's plea for review of its verdict directing its two firms to refund around Rs 24,000 crore to their investors with 15 percent interest per annum.
Sahara Group on Friday assured the Supreme Court that its two companies which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors will refund the amount within three months.
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.
Sebi chief U K Sinha questioned the credibility and feasibility of Shara's refund claims.
Charges retail franchises; says RBI tracking refund of Rs 71,000 cr to investors.
Sahara Group's recent statement says that the total fund received and raised from public since 1978 till September 30, 2012 with accrued interest, including life insurance policy holders' fund, mutual funds, Credit Cooperative Q shop customers advance, bank loans in India and overseas, etc" stood at Rs 225,000 crore.
Sahara accuses regulator of injustice, bad intent.
A bench headed by Chief Justice Altamas Kabir, which had earlier extended the deadline to two companies of the group for refunding the money from November end to first week of February, refused to grant more time.
Land parcels acquired for 58 new projects, which are yet to be launched.
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.
Subrata Roy's parole, granted on humanitarian grounds following his mother's death.
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 Supreme Court on Friday said Sebi can take action against Sahara if it does not provide details about investors from whom the company had raised Rs 24,000 crore (Rs 240 billion).
Market regulator Sebi on Friday said it is yet to receive "all papers" in the high profile Sahara case where the Supreme Court has directed two group companies to refund money to bond holders.
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 long-running regulatory and legal battle with Sebi.
Regulator has set up a special cell to carry out the refunding operation.
Other bidders include Abu Dhabi Investment Authority.
The administration was triggered by Force India's Mexican driver Sergio Perez, supported by engine provider Mercedes and team sponsor BWT who were also owed money by a team struggling financially.
Following in the footsteps of Mahendra Singh Dhoni, Suresh Raina has become the second cricketer to be associated with the Hero Hockey India League (HHIL) after he was named today as the co-owner of the Uttar Pradesh Wizards franchise.
Adrian Sutil could be in the frame for a return to Force India and Formula One if fellow-German Nico Hulkenberg moves to Sauber next season, according to team co-owner Vijay Mallya.
It may be long overdue, but consolidation in the media sector will happen very slowly and painfully.
Federation of International Cricketers' Associations CEO Tim May has expressed concern over Sahara India's withdrawal of its franchise, Pune Warriors, from the Indian Premier League.
Admitting Sahara's plea, a bench headed by Chief Justice S H Kapadia listed the matter for further hearing on January 20.
Israeli businessman Yitzhak Tshuva, who controls the Elad Group, has sold his 60 per cent stake in the Plaza Hotel, a report in the Israeli daily newspaper Haaretz said.
Sahara says awaiting further clarity on issue from regulator, suggests 'human error' or investor confusion led to mismatch.
Real estate major Parsvnath Developers may soon be able to reduce a significant chunk of its debt, thanks to certain corporate giants showing interest in buying a prime piece of property it owns in the national capital.
Sahara Group chairman Subrata Roy, who reached a compromise with the Board of Control for Cricket in India to pave the way for Pune Warriors' participation in the IPL, has demanded an open auction without any player retention to make the cash-rich Twenty20 league more entertaining.
The BCCI on Sunday decided to take all the "outstanding issues" concerning the aggrieved Sahara Group to its Working Committee meeting on Monday which is expected to give finishing touches to a compromise formula aimed at breaking the week-long stalemate.
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