The Supreme Court on Monday said the plea of two Sahara group firms for extending time to refund Rs 24,000 crore to their investors with 15 percent interest would be heard by the same bench which had ordered the refund on August 31 last year.
After a splendid season, where he scored first-ever double century in One-day and climbing the 14000-runs peak, Sachin Tendulkar on Saturday night was named the Indian cricketer of the Year. Our Correspondent Harish Kotian reveals the other winners at the Sahara India Sports Awards.
Air Sahara on Monday said it is in talks with upcoming low-cost carrier Indus Air, promoted by Kapil Mohan of Mohan Meakins Group.
That's the amount payable by the Sahara group firms, according to Sebi's latest statement
Roy was allowed by the Supreme Court to use the jail's conference room to negotiate sale of his hotels in order to collect Rs 10,000 crore (Rs 100 billion) for his bail.
The company wanted to pay off the depositors' money in instalments.
Sahara India Group has pulled out of the race to buy a 51 per cent stake in the financially troubled Liverpool Football Club, one of the most successful clubs in the history of English soccer.
Pune Warriors India are disappointed at being axed from the IPL but expressed hope that it would not be the end of the road as far as their relationship with the BCCI is concerned.
On Feb 26, SC issued an arrest warrant against Subrata Roy after he failed to turn up in court for hearing
The income tax (IT) department seems to have quietly thrown a spanner in the works on the Securities and Exchange board of India (Sebi)'s two-year-long efforts to implement the Supreme Court order against the two Sahara group firms Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Invest Corporation (SHICL).
Roy and his associates were jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog over the company's failure to repay billions of dollars to investors who were sold outlawed bonds.
The company would be launching dairy business in March next year.
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).
Private carrier Jet Airways, which is engaged in a legal battle with Sahara group over the failed deal to acquire Air Sahara, is understood to be holding discussions with the Sahara top brass for an out-of-court settlement.
Air Sahara on Friday announced the induction of 50-seater regional jet planes into its fleet as part of plans to spread its network into small towns and cities of the country.\n\n\n\n
Roy was anxious, but he gave no sign of losing his calm even though it was not easy to give up a Rs 20,000-crore empire.
The sales and ground handling agents of Air Sahara are up in arms against the management of Jet Airways
Justice Dhananjay Chandrachud, however, rejected the petition filed by Sahara claiming Rs 2,000 crore (Rs 20 billion) as the total sum for the take over instead of the renegotiated amount of Rs 1,450 crore (Rs 14.5 billion) agreed between Jet and Sahara.
The Enforcement Directorate on Wednesday said it has attached in London, Dubai and India assets worth Rs 538 crore of Jet Airways founder Naresh Goyal, his family members and companies as part of a money laundering investigation linked to an alleged bank loan fraud. The attached properties include 17 residential flats, bungalows and commercial premises. Located in London, Dubai and various cities in India, these properties are in the name of various companies like Jetair Private Limited and Jet Enterprises Private Limited, Goyal, his wife Anita, and son Nivaan, the central agency said in a statement.
In a major setback to the Sahara Group, the Supreme Court on Friday directed two of its companies to refund around Rs 17,400 crore to their investors within three months with 15 per cent interest.
Subrata Roy's parole, granted on humanitarian grounds following his mother's death.
Civic authorities on Sunday continued the demolition of seven unauthorised structures near the controversial Sara-Sahara complex in south Mumbai.
Officials said the notice was issued by the taxman in January this year after the special audit of AVL's income for the Assessment Year 2012-13.
It's business as usual for Sahara in some places, but collection agents fend tough questions from investors.
A day after government decided to restrict the number of ground handling agencies in six major airports, full-frill private carriers Air Sahara and Jet Airways asked the government on Friday to let them continue providing these services.
Their relationship with the Indian cricket board (BCCI) may be in troubled waters but Sahara India Pariwar has announced its support to Indian archers, on Saturday, by offering them a total cash incentive of close to Rs 3 million.
With no solution in sight to the payment dispute that has rocked Indian hockey, team sponsor Sahara on Wednesday sanctioned Rs one crore immediately, to be distributed only among the striking players in a bid to resolve the crisis.
A new bench has been constituted in the Supreme Court to hear the Sahara case which will take up the matter on May 19.
The Indian hockey captain said it will only benefit the game in the country.
Sheila Dikshit on Tuesday targeted Prime Minister Narendra Modi wondering why he was shying away from an independent probe into the 'Sahara-Birla' papers.
Monetary rewards continue to trickle in for the Indian men's hockey team. Sahara India Pariwar announced a cash incentive of Rs 1.27 crore for the players and support staff of the side that emerged winners in the just-concluded London Olympics qualifier.
Bombay high court began hearing arguments on Thursday on whether it has the jurisdiction to adjudicate on a dispute between Jet Airways and Lucknow-based Air Sahara over a collapsed takeover deal.
Taking a step forward in its $500 million deal to snap up Air Sahara, Jet Airways on Thursday announced it had reached an understanding with the other airline to provide consultancy support to improve its performance in various fields.
The Sultan of Brunei has made a bid for New York's Plaza Hotel, Dream Hotel and London's Grosvenor House Hotel, the Wall Street Journal's website edition reported on Saturday, citing people familiar with the situation.
Sebi is verifying the credentials of more than three crore investors for the refund as per a direction from the Supreme Court.
The fire broke out in an area near the Visakhapatnam Container Terminal and an Indian Oil Corporation facility where fishing boats were anchored.
The market regulator is seeking help from its peers in Mauritius, the UK and the US to solve the high-profile money laundering case involving Sahara chief Subrata Roy.
Jet Airways Chairman Naresh Goyal said on Friday Air Sahara employees would not lose their jobs as a result of his company taking over the Lucknow-based airline.
Force India, co-owned by Vijay Mallya, is set to sell a minority stake in the Formula One team to Sahara Group, which also sponsors the national cricket team, a source with knowledge of the deal told Reuters on Wednesday.
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