Air Sahra on Thursday filed a caveat at the Lucknow Bench of the Allahabad high court pleading that the company should be heard before any order is passed in the ongoing dispute over the transfer of management control to Jet Airways.
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.
Sebi says Sahara investors refunded over Rs 42 cr.
Author Tamal Bandyopadhyay talked about his book Sahara: The Untold Story during a Rediff chat on Friday.
Senior advocates Kapil Sibal and Mukul Rohatgi, appearing for Sahara, has sought time till August 15 for realisation of the cheque and giving a road map for depositing the remaining amount.
Sahara told the court it was working on new deals to raise funds.
An extract from Tamal Bandyopadhyay's book shows that wrangling with regulators is nothing new for the Sahara group. In the 1990s, too, it had run into the income-tax department and had used similar tactics as it is using against Sebi today to deflect the investigation into its affairs.
An extract from Tamal Bandyopadhyay's book shows that wrangling with regulators is nothing new for the Sahara group. In the 1990s, too, it had run into the income-tax department and had used similar tactics as it is using against Sebi today to deflect the investigation into its affairs.
The Sahara case reveals that, in today's environment, court intervention is what makes a major difference.
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.
Company has submitted before the court that the plaintiff is attempting to attach property that falls outside of the jurisdiction of the court
Karan Johar wished Salman Khan on his 58th birthday on December 27 with a throwback picture of the actor from KJo's directorial debut, Kuch Kuch Hota Hai.
Sebi says it will directly transfer the refund money to the bank accounts of genuine investors.
Reports said that the two hotels can fetch up to $1 billion.
Suitors came with all-cash offers but were rebuffed
The Tribunal adjourned till Monday this matter, which was listed for 'admission' this morning.
Jet Airways' $500-million deal to takeover Air Sahara got a boost on Monday with the home ministry giving security clearance to four Jet officials to be on the board of Air Sahara.
The bench asked the official liquidator, attached with the Bombay high court, to auction Aamby Valley properties, estimated to be worth Rs 34,000 crore, and directly report to it
The transactions between entities of Sahara Group show loopholes in regulation that can be exploited to fool investors and launder money.
The company will get title rights and branding opportunities at major FIH tournaments including the men's and women's World Cup in 2006.
To locate genuine investors who may have deposited money with Sahara, the regulator also wants to issue public notices in regional language newspapers.
The criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Sebi.
Oriental Insurance Company Ltd hopes to bag the Air Sahara insurance business after its merger with Jet Airways.
Each member of the Afro-Asian Games gold medal-winning squad was presented a cheque of Rs 150,000.
Force India has been re-named Sahara Force India after the Sahara Group bought stake in the Vijay Mallya-owned Formula One team. As per the agreement between the parties, Sahara Group and Mallya's UB Group will have 42.5 percent stake each in the team.
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
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
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 Sahara India Group on Wednesday renewed its ties with Indian hockey by signing a five-year deal to sponsor the national men's and women's teams.
Team India sponsorship will not be affected due to the takeover of the Sahara airline by competitor Jet Airways
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