Battling a long-drawn legal tussle with Sebi, conglomerate Saharas claim to have as many as 4,799 establishments under its fold, but its 'Chief Guardian and Managing Worker' Subrata Roy holds board seats on just a handful of registered group companies.
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.
The warm-up one-day match between England and a RCA President's XI will be held in Jaipur on March 25.
SC adjourns contempt plea to July 17; directs Sebi to start refunding genuine investors.
The BCCI made it clear that rules would not be bent for any IPL franchise but it would still reach out to aggrieved sponsors and Pune Warriors owners Sahara India 'as soon as practicable to clarify its intentions.'
The bench, which said that Sahara group must refund the amount by August 31 or face personal appearance, however, refrained from passing orders as the counsel for Roy pleaded that no such order be passed without hearing him and posted the case for hearing on July 24.
Sahara Group chairman Subrata Roy, who reached a compromise with the Board of Control for Cricket in India to pave the way for Pune Warriors' participation in the IPL, has demanded an open auction without any player retention to make the cash-rich Twenty20 league more entertaining.
The court had previously rejected Roy's plea to move to a house arrest in its last hearing on April 9 and asked the lawyers to file short written submissions on April 16.
The Ministry of Corporate Affairs (MCA) told a litigation court that both entities were bound by Sebi regulations, as the money raising by the erstwhile Sahara India Real Estate Corp (SIRECL) and Sahara Housing Invest Corp Ltd (SHICL) would come under the definition of public issue.
The two-and-a-half-year-old Hotel Sahara Star, the only luxury establishment owned by Sahara Hospitality, currently has an inventory of 223 rooms.
While full service carriers (such as Jet Airways, Kingfisher Airlines and Air Sahara) offer food onboard and personal attention, low-cost carriers (such as Air Deccan, SpiceJet and GoAir) do not offer many of these services.
The government on Tuesday told the Rajya Sabha that it has not received any formal proposal for merger of Sahara Airlines with Jet Airways, leading to protests by Left members who asked the minister to clarify on the matter.
SAT has issued order to freeze Subrata Roy's account.
Sebi sets Sept 30 deadline to apply for Sahara refund
Supreme Court on Friday stayed proceedings on petitions filed by Jet Airways and Air Sahara against each other at Mumbai and Lucknow courts.
Supreme Court issued non-bailable warrant against Subrata Roy on Wednesday.
This was due to a planned expenditure being revised
RBI has sought to stop one of its firms from disposing off assets.
No deal has been signed between Air Sahara and Jet Airways, but discussions are on for a strategic alliance between the two private carriers.
Court also questioned market regulator's lack of action.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
Struggling to find a new sponsor for the Indian team, the Board of Control for Cricket in India extend its existing contract with Sahara by another six months.
No immediate relief was in sight for Jet Airways, with an Arbitration Tribunal adjourning arguments of the airline as well its failed takeover target Air Sahara till April.
Sahara Computers and Electronics Ltd has announced Rs 400 crore (Rs 4 billion) investment over the next two years to extend its reach in the Indian market.
Sahara has paid a 10 per cent down payment for the 105-year-old landmark.
Holding that it was playing 'hide and seek' and cannot be trusted any more, the apex court on Monday directed the Sahara Group to hand over title deeds of its properties worth Rs 20,000 crore to Securities and Exchange Board of India warning that failure to comply would mean Subrata Roy cannot leave India.
Sahara group promoter Subrata Roy said he will take his newly acquired Indian Premier League (IPL) team public by 2013, the second year of operations, and is open to having investors take a minority equity stake in the franchisee.
Kingfisher Airlines chairman and managing director Vijay Mallya is keeping his fingers crossed as he awaits word from Air Sahara
The Monopolies and Restrictive Trade Practices Commission, which is inquiring into the Rs 2,300 crore (Rs 23 billion) takeover of Air Sahara by Jet Airways, has forwarded the case to the director general (investigations and registrations
Airline stocks were seen soaring high on Wednesday fuelled by reports that merger plan of Jet Airways and Air Sahara was about to fall apart, even as market analysts said failure of the deal would benefit Jet.
The BCCI on Sunday decided to take all the "outstanding issues" concerning the aggrieved Sahara Group to its Working Committee meeting on Monday which is expected to give finishing touches to a compromise formula aimed at breaking the week-long stalemate.
Air Sahara has decided to operate flights to Andaman and Nicobar islands from September.
Group's hybrid direct selling format also confuses industry
To provide seamless travel between India and the UK, Air Sahara and British Airways on Thursday entered into a pact to synchronise flight schedules, launch joint fare products and decided to explore ways to have a codeshare agreement in the future.
Private carrier Air Sahara is likely to soon shortlist two or three most attractive offers it has received on equity participation to raise $100 million for their expansion plans. \n
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