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.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Property sold via HDFC Realty for Rs 58 cr; 60 properties on sale via e-auction
The apex court told Roy that his proposal of paying Rs 1,500 crore, if the auction process was halted or postponed, was unbelievable.
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.
Under U K Sinha, Sebi became a pan-India organisation with local offices in 16 cities
Sahara was to provide a bank guarantee from HSBC.
NBFCs which have not met Sebi criteria will face tough action.
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At the Kukrail guest house, Roy is under the watch of a DSP, three station officers and armed constables.
A consummate deal-maker, the former Aircel boss raked in the moolah in many, but lost a packet in several others.
The Trinamool Congress and the Bharatiya Janata Party on Monday targetted each other in Parliament, leading to clashes and walkouts. The TMC displayed in both Lok Sabha and Rajya Sabha the copies of some red diary, allegedly recovered from Sahara group chief Subrata Roy, and claimed that it contained the name of a BJP leader.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
Sahara cousel Kapil Sibal said he was preparing an application.
The events of September 24 have not only earned the country a whole lot of interest but also showed the world how a lot more can be accomplished with a shoestring budget.
Sebi sets Sept 30 deadline to apply for Sahara refund
Sebi suggested Roy be allowed to step out of Tihar jail for a few hours every day to negotiate the sale of his foreign properties over video conference.
CBI not to need prior approval to probe corrupt govt officials.
Accused of persistent non-compliance, Sahara group on Tuesday offered Sebi fresh bank guarantees for Rs 22,500 crore and help in verifying investors including those the group claims to have already refunded.
Senior advocate Kapil Sibal, representing Roy, said it was quite difficult to raise money as the properties have already been attached.
Owners of Pune-based Serum Institute of India, the Poonawalla's have thrown the hat to acquire the iconic Grosvenor Hotel in UK from Sahara Group.
Subrata Roy turned up at a New Delhi stadium, best known for hosting the Commonwealth Games, last week as part of his country wide Abhaar Yatra.
Things appear to be going from bad to worse for Vijay Mallya, once known as 'King of Good Times', with the board of a company he nurtured into India's largest liquor maker asking him to quit.
Amount more than twice the size of Sahara's; collective investment scheme operator has 3 months to return money and wind up.
The first to take off will be Air Pegasus, promoted by Bengaluru-based ground-handling firm Deccor Aviation.
Sahara chief Subrata Roy may not come out clean in the biggest ever investment fraud that he allegedly did few years ago.
Suitors came with all-cash offers but were rebuffed
Landmark judgments follow new CJI's assumption of office.
A summary of sports events and persons who made news on Thursday.
About 85% of complaints received were related to investments of less than Rs 10,000 each.
Under Section 71 of the legislation, which took effect this month, corporate bond issuers have to create a debenture redemption reserve equivalent to at least 50% of a planned bond sale before the maturity of the security.
Inter-ministerial group to meet on Thursday to finalise model concession pact.
Corporate legal cases kept India Inc on its toes in 2014 as high stake matters on coal, telecom and mining came up in the Supreme Court, which also sent Sahara Group chief Subrata Roy to jail.
Top leaders from India Inc may be busy throughout the year, but they too have a very strong social life beyond work.
'It is not impossible that there will be some arrangement with the Congress in West Bengal after the ongoing local body polls.'
Few top honchos of India Inc did very well in 2014.
In commercial real estate, leasing of office space was higher although the activities were subdued in retail segment.
Sahara and its founder Subrata Roy have been under scrutiny for years over its financial products, including for possible money laundering.
A look at the life and times of maverick businessman Chinnakannan Sivasankaran
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