A meeting of the top officials of Sahara India and Jet Airways to resolve the dispute over the buyout of Sahara Airlines by the latter has not resulted in any settlement.
The government on Friday informed the Parliament that Sebi has discovered discrepancies in the claims by the bondholders and the database provided by Sahara Group in the Rs 20,000-crore (Rs 200 billion) investors money refund case.
The muti-million dollar deal for takeover of Air Sahara by India's largest private airline Jet Airways broke down late Wednesday night.
The court, however, reserved its order on a fresh plea of Roy seeking modification of an earlier order by which he was asked to pay Rs 5,000 in cash besides a bank guarantee of an equivalent amount.
Roy will also have to submit his passport to the court.
Sahara had initiated legal action against the US-based firm.
Former IPL chairman Lalit Modi on Saturday blamed BCCI President N Srinivasan's arrogant style of functioning for Sahara Group's decision to snap all the ties with the Cricket Board.
Moving from one employer to another is easier said than done for Air Sahara's crew, who are all dressed up in Jet Airways' colours but do not know where to go.
The Allahabad High Court on Thursday summoned the Lucknow Development Authority (LDA) vice chairman for demolishing part of Sahara City on Wednesday night. A division bench of the court comprising Justice Devi Prasad Singh and Justice Balkrishna Narain summoned the Vice Chairman Ram Bhadur on a petition of Sahara India Commercial Corporation Limited.
A day after Sahara's shocking decision to pull out as sponsor of the Indian cricket team and owner of the IPL franchise Pune Warriors, the BCCI is making efforts to pacify the corporate giant and retain its financial backing.
Sahara One signed an agreement with Nimbus, which owns the global media rights for cricket matches to be played in India till 2010
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
Sahara has asked its employees and associates to reach out to 12 million people and conduct a survey.
Former IPL chief shooed off potential buyers at the behest of Sushanto Roy, says broker
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.
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.
Citing the SC order in Sahara case, Sebi has passed orders against at least five companies and 21 individuals charged with collecting thousands of crores fraudulently
Sahara group, whose chief Subrata Roy who was in jail for over two years in connection with a long-running dispute with markets regulator Sebi is now out on parole
A Sebi counsel said the caveat, filed on Saturday, aims to prevent any ex parte decisions.
Two interesting starters for a rainy day.
Sebi roped in HDFC Realty and SBI Cap after being asked by the Supreme Court to initiate the process of selling Sahara properties whose titles have been deposited with it by the group
Earlier, the top court said it had been "taken for a ride" by the Sahara group by its past conduct and asked it to submit a roadmap for paying the balance amount
Unable to verify or trace a large number of bondholders in Sahara refund case, Sebi has begun a process to consult the business conglomerate for verifying the genuineness of such investors.
Market regulator in talks with SBI Caps, UTI Infra for scrutiny and auction of properties.
The Supreme Court has given troubled conglomerate Sahara a month's time to explain why a receiver should not be appointed to auction off its properties.
On February 13, Sebi passed two separate orders, together running into 160 pages, directing attachment of properties and freezing of accounts.
This lawsuit will have no bearing on its fund-raising exercise as a deal is already in final stages
Even as Sebi probed, OFCD money moved across the globe, Aamby Valley (Mauritius) at centre of global transactions; All transactions legal, no Sebi bar on doing business: Sahara
Sahara offers new plan for Subrata Roy's release
Sahara also sought permission to sell its properties in Bangalore.
The money is being refunded only in those cases where Sebi has not found any multiplicity during its verification process.
The company is seeking more time to submit documents related to about three crore investors in the case involving two of its group companies.
Charges retail franchises; says RBI tracking refund of Rs 71,000 cr to investors.
No reason was given for his resignation.
Senior advocate Rajeev Dhawan, appearing for Sahara, sought release of Sahara chief Subrata Roy on the ground of his "deteriorating" health and the fact that market regulator Sebi has already been authorised to sell 66 properties
Sahara group has been engaged in a legal battle with Sebi for long over raising Rs 24,000 crore (Rs 240 billion) from investors.
While Sahara maintains it has already repaid more than 93 per cent of the outstanding dues directly to the concerned bondholders and the remaining amount was just about Rs 2,500 crore (Rs 25 billion), it deposited Rs 5,120 crore (Rs 51.2 billion) to Sebi in December 2012 towards the investor refunds as per Supreme Court orders.
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