About eight bidders are in the race to pick up stake in major private carrier Air Sahara, which has kept "all options open", including selling equity or strategic partnership, to fund its expansion plans.\n\n
The Bombay High Court on Monday asked Jet Airways and Sahara India Commercial Corporation Ltd (SICCL) to settle their dispute over the takeover of Sahara Airlines by July 2 or else it would pass an order.
Toeing the line taken by its competitors, including Indian Airlines, Air Sahara on Tuesday announced the launch of fare buckets while doing away with its advance purchase schemes, claiming that the new system would lower airfares by 20 to 70 per cent
In a move expected to promote tourism and give a boost to the economy of militancy-ravaged Jammu and Kashmir, Air Sahara will begin its daily operations between Delhi and Srinagar on Wednesday.
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.
The high-profile saga -- which on Friday saw the arrest of flamboyant Sahara group chief Subrata Roy, who calls himself 'Managing Worker' of his business empire -- has seen many dramatic events along the way.
Sahara Group's recent statement says that the total fund received and raised from public since 1978 till September 30, 2012 with accrued interest, including life insurance policy holders' fund, mutual funds, Credit Cooperative Q shop customers advance, bank loans in India and overseas, etc" stood at Rs 225,000 crore.
The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount.
Roy was receiving the same treatment as other inmates, the only privilege being that he gets a bed as he is over 60 years of age.
There is no end to fraudulent investment schemes in India.
Over three-and-a-half years after receiving draft papers for the proposed IPO of Sahara Prime City Ltd, Sebi has formally closed this file as the company failed to submit clarifications sought by the market regulator.
The order, concerning debentures issued by two group companies, is subject to Supreme Court clearance
According to sources in the Excise department, the Sahara Airlines, while submitting opinion of its Chartered Accountant on service tax, had allegedly backdated it to 2003 in which it was stated that Rs 1442 crore (Rs 14.42 billion) income from advertising services provided to its group company was not taxable under advertising services.
The Sahara group apologised for its earlier advertisements expressing regret for 'unintentional wrongs, disrespectful feelings, hurt and annoyance.'
While the country is gripped by Ram Mandir frenzy, Danish Husain -- without shouting from the rooftops -- silently staged his opinion with this play on one of India's best-known poets, observes Neeta Kolhatkar.
Shares of two Sahara firms fell by up to 5 per cent on Wednesday, after the group's chief Subrata Roy and two directors were jailed for a week for not complying with the Supreme Court order on refunding around Rs 20,000 crore (Rs 200 billion) of investors money.
Sahara will save Rs 400 crore (Rs 4 billion) annually by pulling out IPL team Pune Warriors India and not re-bidding for national team sponsorship.
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.
Following on the footsteps of Indian Airlines, two leading private carriers Jet Airways and Air Sahara on Monday announced increase in fares in all sectors by 12 per cent from April 15.
The Sahara Group said on Tuesday it would build 50 self-sufficient townships in Uttar Pradesh with modern facilities and amenities at an investment of over Rs 20,000 crore (Rs 200 billion).
Rajsamand MP Diya Kumari and Jaipur Rural MP Rajyavardhan Singh Rathore are among the seven BJP parliamentarians who will contest the Rajasthan Assembly polls, according to the first list of 41 candidates issued by the party on Monday.
At the reserve price, these auctions will take the total fund raising to at least Rs 3,100 crore (Rs 31 billion).
Sahara and Peerless are classified as residuary non-banking finance companies (RNBCs), which are now required to invest 100 per cent of their deposits in approved securities, including government bonds, fixed deposits with banks and mutual funds.The RBI has also asked the two RNBCs to submit alternative business plans.
Land parcels acquired for 58 new projects, which are yet to be launched.
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.
The permission came after the court was satisfied that the transactions were in accordance with its June 4 order.
The agency had received intelligence inputs that a huge amount of "unaccounted" cash is lying at the groups properties at Delhi and Noida.
The Queen's Baton might have traversed 170,000 Km across the globe without raising a speck of dust, but a barely 24 hour halt in Lucknow propelled the prestigious Commonwealth Games symbol into the thick of a controversy with none other than the Sahara India group in the eye of the storm.
The relationship between Sahara Group and the Indian Cricket Board had turned from bad to worse in the past month but after a "couple of not so cordial telephonic conversation" between the owners of Pune Warriors and the board top brass that had telling effect.
The Supreme Court on Friday said Sebi can take action against Sahara if it does not provide details about investors from whom the company had raised Rs 24,000 crore (Rs 240 billion).
Admitting Sahara's plea, a bench headed by Chief Justice S H Kapadia listed the matter for further hearing on January 20.
Air Sahara on Thursday announced it would fly its first chartered, non-revenue flight to Colombo on Friday, saying it would launch direct services from Mumbai and Chennai and link other metros after necessary government permission is granted to it.
Rahul also posted a document purporting to show 'cash payments to Modi ji'.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances