The companies have been collecting money through different schemes from investors which has been estimated at several millions.
They have snapped ties with cricket but the Sahara Group has renewed its association with Indian hockey signing a five-year sponsorship deal with Hockey India.
Former IPL chairman Lalit Modi on Saturday blamed BCCI President N Srinivasan's arrogant style of functioning for Sahara Group's decision to snap all the ties with the Cricket Board.
Force India, who finished sixth overall last year but whose owners have had financial troubles, missed the first test in Jerez.
The Ministry of Corporate Affairs (MCA) told a litigation court that both entities were bound by Sebi regulations, as the money raising by the erstwhile Sahara India Real Estate Corp (SIRECL) and Sahara Housing Invest Corp Ltd (SHICL) would come under the definition of public issue.
A Sebi counsel said the caveat, filed on Saturday, aims to prevent any ex parte decisions.
Rajeshwar Singh, assistant director, Enforcement Directorate, who is among the officials probing the 2G spectrum scam, has asked to be excused from the probe. Sahim Salim finds out why.
Unable to verify or trace a large number of bondholders in Sahara refund case, Sebi has begun a process to consult the business conglomerate for verifying the genuineness of such investors.
The Supreme Court on Friday directed Sahara Group firm Sahara India Real Estate Corp to approach the Securities Appellate Tribunal against the order of Sebi directing the return of money collected from investors for an OFCD scheme within a period of three weeks.
BCCI is pleased to have sorted out all the issues with the Sahara Group but insisted that they have not bent rules and the matter has been resolved within the framework of rules and regulations.
Integrated entity for realty, infrastructure sector
The order, concerning debentures issued by two group companies, is subject to Supreme Court clearance
Former South African paceman Allan Donald, who was recently appointed as bowling coach of the Pune Warriors, said it will be a 'pity' if the reconciliation efforts between the BCCI and his IPL side fail.
The bench said it is evident that there was a difficulty for the group to sell its properties to arrange Rs 36,000 crore
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.
It asked the Sahara chief to discuss the roadmap for future payments with amicus curiae Shekhar Naphade and Sebi, and said if they are convinced, the court could look into it
The bench directed the companies to place before it their 2010-11 balance sheets and statements of accounts for November 2011 by January 8, the next date of hearing.
As Sahara group chief Subrata Roy was arrested this morning amid high drama, son Seemanto said his father "wilfully submitted" before the Lucknow police.
As the role of the powers-that-be in the government comes under the scanner, pressure is being mounted on the two ED officers investigating the 2G case from the highest level, particularly the finance ministry.
Roy's plea was mentioned before a bench comprising justices K S Radhakrishnan and J S Khehar which said he has to appear on Wednesday.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
In March, the Registrar of Companies, Uttar Pradesh and Uttarakhand, based in Kanpur, sent a notice to Sahara India Real Estate Corp for using a third party's bank accounts to receive funds from investors.
Genuine investments identified so far is Rs.1.08 cr out of around Rs 24,000 cr.
During Friday's proceedings, senior advocate Fali S Nariman, appearing for the Sahara group, said that Sahara was not a listed company and only the government has jurisdiction over it and not market regulator Sebi.
In recent months rumours have been doing the rounds that Anil Ambani is planning to takeover Newcastle, while his brother Mukesh and the Sahara group are eyeing Liverpool. On Friday, there were reports of another Indian entrepreneur planning to take over Blackburn Rovers, another English Premier League club. According to Times Online, Mumbai-based businessman Saurin Shah, has the Lancashire club in his sights because of the town's large Asian population.
Sahara Group chief Subroto Roy on Saturday defended the decision to snap ties with the BCCI but wants to ensure that the players of his IPL team do not suffer and get to play in the fifth edition of the Twenty20 league.
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.
It is one of the three marquee hotels owned by Sahara outside India.
Sebi's petition is likely to be taken up by the apex court tomorrow for consideration.
The deal, struck by group firm Aamby Valley for 470 million pounds (about Rs 3,300 crore), makes it one of the largest acquisitions in the hospitality space by an Indian company.
The Sahara group has accused Mirach of 'cheating and forgery'.
Ahmedabad could soon have an Indian Premier League team of its own after it was confirmed that billionaire Gautam Adani-owned Adani Enterprises had submitted its bid to buy a new franchise. It is learnt that top corporate houses like Sahara Group, Videocon Enterprises, ICICI are among the other bidders, while guardians of the law of the game Marylebone Cricket Club (MCC) are also in the running for the Pune franchise.
Sahara group has sought extension of negotiation facilities in the Tihar jail here for its chief Subrata Roy by a further 45 days.
Jailed chief of Sahara conglomerate Subrata Roy has once again been provided with an AC conference room with services like Internet and video-conferencing at the Tihar prison as per a Supreme court order to complete negotiations for raising funds for his bail.
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.
Mukesh Ambani, chairman of Reliance Industries, and Subroto Roy, chairman of Sahara Group, are reportedly bidding for a 51 per cent stake in Liverpool football club -- one of the most successful clubs in the history of English football.
Liverpool is presently owned by American duo George Gillett and Tom Hicks, who acquired the club in February 2007.
The flight services would be operated by air services provider, Air One. "Flight operations would commence from tomorrow," Sahara India chairman Subrata Roy told reporters on Thursday.
The two-and-a-half-year-old Hotel Sahara Star, the only luxury establishment owned by Sahara Hospitality, currently has an inventory of 223 rooms.
Income Tax department raided office of the Sahara Group, owner of IPL's Pune team, at Aliganj in Lucknow on Thursday.
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