A Reliance Industries spokesman denied reports that its chairman Mukesh Ambani is bidding for a 51 per cent stake in Liverpool football club.
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.
European and world club champions Manchester United have sent a shirt sponsorship proposal to the Indian conglomerate Tata Group. United's four-year, US $100 million contract with American International Group runs until May 2010 but the insurance giant said in January it would not be renewing the deal.
The Board of Control for Cricket in India will choose between Bharti Airtel and Sahara Group on Monday as the new team sponsor, as both are the only firms left in the fray at the end of the deadline for submitting the bids for rights along with the requisite security deposit.
The Indian cricket board's marketing committee is to meet in Mumbai on May 31 to wrap up the much-delayed team sponsorship details for which the BCCI issued a tender notice inviting bids on Monday.
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.
Justice D Y Chandrachud adjourned the case till January 19 after Jet and Sahara India Commercial Corporation Ltd pleaded for time to file additional affidavits.
Sahara group promoter Subrata Roy said he will take his newly acquired Indian Premier League (IPL) team public by 2013, the second year of operations, and is open to having investors take a minority equity stake in the franchisee.
Rahul also posted a document purporting to show 'cash payments to Modi ji'.
Fed up with the tactics of Sahara Group and its chief Subrata Roy, the Supreme Court observed that judges would need to be "superhumans" to handle the pressures to handle frivolous litigations.
European and world club champions Manchester United have sent a shirt sponsorship proposal to an Indian company, some 16 months before the end of their current deal with American insurance giants AIG.
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.
Other London properties, aircraft & offshore accounts are yet to catch the attention of regulators.
Mirach Capital rejected accusations of indulging in forgery.
No reason was given for his resignation.
The Bombay High Court on Thursday gave Jet Airways and Sahara Group one last chance to amicably resolve a payment dispute over acquisition of Sahara Airlines by Jet, but if they squander this opportunity the court would step in with its ruling on July 15.
A fresh battle is all set to erupt among the owners of the ten franchises of the Indian Premier League (IPL). At least one of the two new teams, which have paid a bomb for the franchise, is opposed to a move that will allow the eight old teams to keep their key players out of the next auction of players in September or October.
Force India F1 team rule out name change this year
Heads have started rolling in Uttar Pradesh after a stern view by the Supreme Court on demolition drive by the Lucknow Development Authority at the Sahara Saher, with the state government removing Principal Secretary, Housing and Urban Development Department, Harminder Raj Singh from his position.
The Sahara Group on Tuesday approached the Supreme Court, seeking contempt action against the Lucknow Development Authority, for carrying out certain demolitions at Sahara Saher against the apex court's order to maintain status quo.The LDA, acting on a direction from the state government, on Monday pulled down some temporary structure and barricade and filed an FIR against the officials of the Sahara Group, saying these were erected after the apex court's order of status quo.
The appeal was mentioned before a vacation Bench headed by Justice Arijit Pasayat, which fixed June nine as the date for hearing the matter. The Bench allowed senior advocate P R Andhyrujina, who mentioned the matter, to file a special leave petition against the High Court order later in the day.
A bench headed by Justice Arijit Pasayat, while fixing the date for final disposal on October 21, extended the undertaking given by developer B Jeejeebhoy Vakharia and Associates asking it not to create any third party rights till then. Earlier, the court had sought reply from the builder and others.
The Supreme Court on Friday asked Sahara and SEBI to formulate mechanism for securing payment of around Rs 19,000 crore (Rs 190 billion) of investors' money after the Subrata Roy-led group agreed to pledge it's immovable property as security but the market regulator questioned the sale deed and worth of the properties.
It is learnt from sources that the two companies today paid Rs 20 crore as guarantee deposit to the Board of Control for Cricket in India (BCCI).
Sources said Sahara filed a case in the Bombay High Court a few days ago on non-payment of dues. According to sources, Jet was to pay Rs 900 crore to Sahara upfront, while Rs 137.5 crore was to be paid in yearly instalments over four years. Jet defaulted on the yearly instalment, they said. The source added that Jet's payout to Sahara in case of a single year's default could be Rs 550 crore.
Besides Roy, two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary, were also arrested for the failure of two group companies.
The case based on "random materials" like loose sheets, papers, e-mail print outs is "merit less" as they are "inadmissible materials" having "no evidentiary value under the law, the court said.
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.
Jet to raise $400m and add 20 new aircraft for expansion.
A spokesperson said Sahara group is not into business with Trinity.
Roy, who in compliance with the last order appeared before the court, was told by the apex court that he has to frequently make the payment as per the roadmap approved by the court or face further imprisonment.
Russian fertiliser group Uralkali said that by turning down its higher bid for the company, the administrators had denied the extra funds that would have accrued to the shareholder of Force India - Mallya's Orange India Holdings Sarl - which is subject to a freezing order issued by the UK's High Court in favour of his 13 creditor Indian banks, led by the State Bank of India.
Income tax department has begun a survey in a few state offices of Sahara group's para banking operations to get details on depositors.
Ruling out the sale of Sahara TV following the takeover of its airline business by rival Jet Airways, a top Sahara group official on Tuesday said the company's entertainment wing was looking forward to expanding operations, with the launch of a new H
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
After the launch of a range of personal computers in the Indian market, Sahara Computers is planning to foray into manufacturing of board level computer components.
The company has terminated his services with effect from June 6, a senior Sahara group official said.
The appearance on June 10, however, will be through recorded video clippings.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances