Sahara Conglomerate

Subrata Roy, the 68-year-old chief of the Sahara conglomerate will have to return to jail if he does not deposit 1,500 crores with the Supreme Court by June 15. The Sahara chief, who was arrested in 2014 and given bail last year, was present in court and told judges that he would furnish two cheques -one in June and the other in July- totaling abou...

The Supreme Court has asked market regulator Sebi (Securities and Exchange Board of India) to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday.

The Supreme Court on Monday asked the Securities and Exchange Board of India (Sebi) to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds.

Finance and real estate conglomerate Sahara on Tuesday expressed its inability to pay Rs 36,000 crore in 18 months, as earlier directed by the Supreme Court.

The Supreme Court on Friday set fresh terms for releasing troubled conglomerate Sahara's founder Subrata Roy, jailed for more than a year in a long-running dispute over issuance of illegal bonds.

Sahara, a sprawling conglomerate that ranges from media to property and Formula One racing, has agreed to pay the full $1.6 billion (Rs 10,000 crore) to release its jailed boss on bail, a lawyer for the company said on Friday.

A rescue plan for Sahara was thrown into disarray on Wednesday when Spanish bank BBVA SA denied offering a credit line to the bank, scuppering the conglomerate's claims it would use it to help secure bail for its jailed boss.

The Supreme Court will decide the future of conglomerate Sahara later on Monday, when it rules on whether time has run out for the controversial business empire to raise Rs 10,000 crore it needs to free its jailed chief.

The court will appoint a receiver and auction the conglomerate's properties if it fails to submit a proposal to raise the funds, said a lawyer for the market regulator, which is seeking redress for millions of investors.

In a blow for Sahara, the US-based Mirach Capital called off its $2 billion loan deal which would have helped the Indian conglomerate raise bail money for its jailed chief Subrata Roy.

The Supreme Court has cleared the way for embattled conglomerate Sahara to raise $1.05 billion in fresh loans backed by its overseas hotels, helping the group to fund the bail it needs to release its jailed boss.

The Sahara conglomerate on Friday said it aimed to raise $650 million (Rs 4,037 crore at 1 dollar = 61 rupees) in loans to secure the release of its chief, in jail for nearly nine months over the group's failure to refund billions of dollars to investors in outlawed bonds.

Subrata Roy, the jailed chief of India's Sahara conglomerate, wants to leave prison immediately to perform the last rites for an aunt who died this morning.

Subrata Roy, the jailed chief of Sahara conglomerate, has won 15 days more from the Supreme Court to use his makeshift office in prison to negotiate the sale of his group's trophy overseas hotels and raise $1.7 billion (Rs 10,000 crore) in bail money.

Sahara conglomerate would rather mortgage its trophy overseas hotel properties than sell them to raise the $1.7 billion, or Rs 10,000 crore, in bail money for its jailed chairman, a senior company executive told Reuters.

Subrata Roy, the 68-year-old chief of the Sahara conglomerate will have to return to jail if he does not deposit 1,500 crores with the Supreme Court by June 15. The Sahara chief, who was arrested in 2014 and given bail last year, was present in court and told judges that he would furnish two cheques -one in June and the other in July- totaling abou...

The Supreme Court has asked market regulator Sebi (Securities and Exchange Board of India) to start the process of selling some of embattled conglomerate Sahara's real estate assets in the country to refund millions of investors in its illegal bonds, lawyers said on Tuesday.

The Supreme Court on Monday asked the Securities and Exchange Board of India (Sebi) to submit an application by September 14 seeking its approval to appoint a receiver to auction conglomerate Sahara's assets and refund investors in the troubled group's illegal bonds.

Finance and real estate conglomerate Sahara on Tuesday expressed its inability to pay Rs 36,000 crore in 18 months, as earlier directed by the Supreme Court.

The Supreme Court on Friday set fresh terms for releasing troubled conglomerate Sahara's founder Subrata Roy, jailed for more than a year in a long-running dispute over issuance of illegal bonds.

Sahara, a sprawling conglomerate that ranges from media to property and Formula One racing, has agreed to pay the full $1.6 billion (Rs 10,000 crore) to release its jailed boss on bail, a lawyer for the company said on Friday.

A rescue plan for Sahara was thrown into disarray on Wednesday when Spanish bank BBVA SA denied offering a credit line to the bank, scuppering the conglomerate's claims it would use it to help secure bail for its jailed boss.

The Supreme Court will decide the future of conglomerate Sahara later on Monday, when it rules on whether time has run out for the controversial business empire to raise Rs 10,000 crore it needs to free its jailed chief.

The court will appoint a receiver and auction the conglomerate's properties if it fails to submit a proposal to raise the funds, said a lawyer for the market regulator, which is seeking redress for millions of investors.

In a blow for Sahara, the US-based Mirach Capital called off its $2 billion loan deal which would have helped the Indian conglomerate raise bail money for its jailed chief Subrata Roy.

The Supreme Court has cleared the way for embattled conglomerate Sahara to raise $1.05 billion in fresh loans backed by its overseas hotels, helping the group to fund the bail it needs to release its jailed boss.

The Sahara conglomerate on Friday said it aimed to raise $650 million (Rs 4,037 crore at 1 dollar = 61 rupees) in loans to secure the release of its chief, in jail for nearly nine months over the group's failure to refund billions of dollars to investors in outlawed bonds.

Subrata Roy, the jailed chief of India's Sahara conglomerate, wants to leave prison immediately to perform the last rites for an aunt who died this morning.

Subrata Roy, the jailed chief of Sahara conglomerate, has won 15 days more from the Supreme Court to use his makeshift office in prison to negotiate the sale of his group's trophy overseas hotels and raise $1.7 billion (Rs 10,000 crore) in bail money.

Sahara conglomerate would rather mortgage its trophy overseas hotel properties than sell them to raise the $1.7 billion, or Rs 10,000 crore, in bail money for its jailed chairman, a senior company executive told Reuters.