Sahara Group Companies

Subrata Roy, the chief of Sahara Group, died at the age of 75 on Tuesday. The company announced that he died from cardiorespiratory arrest at 10:30 pm after a prolonged struggle with complications related to metastatic malignancy, hypertension.

Sahara Group founder and Chairman Subrata Roy died today at a Mumbai hospital after battling a long illness, the company said in a statement.

The Supreme Court on Thursday set aside a Delhi High Court order staying a Serious Fraud Investigation Office (SFIO) probe into nine companies related to the Sahara group.

The Delhi High Court has stayed the operation and implementation of two orders of the Centre for investigation into nine companies related to the Sahara Group.

The Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion.

The case relates to OFCDs issued by two companies of Sahara group in 2008 after taking approval from the Ministry of Corporate Affairs.

A Dubai investment group and a New York real estate company have reached a deal to buy the stake for $600 million

Bihar Deputy Chief Minister Sushil Kumar Modi today alleged that the Sahara group helped Lalu Yadav and his family in buying a posh property from the Tata group through a shell company in Patna, a charge denied by the RJD.

ICICI Prudential Life, the first Indian insurance company to get listed, further said it was evaluating the way forward for taking over Sahara Life.

Force India COO Szafnauer said that it makes sense to change the team's name.

Market watchdog SEBI had filed a case against Subrata Roy and two of his companies in 2012.

Besides Mr Roy, two other directors - Ravi Shankar Dubey and Ashok Roy Choudhary - were arrested for failure of the group's two companies - Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL) - to comply with the court's August 31, 2012 order to return Rs 24,000 crore to their investors.

The opposition alleged today that Prime Minister Narendra Modi has been ensured unwarranted protection by tax officials who have decided not to investigate the Sahara Group over alleged bribes that were paid to politicians, according to "diary entries" found in raids on the company's offices in 2014.

Hours after the Supreme Court asked it to disclose the source of its money, the Sahara Group said the money collected through optionally fully-convertible debentures (OFCD) were invested in various assets and the group companies made the money available when the need arose for making repayments to the investors.

The Supreme Court is likely to pronounce, on Friday, the verdict that will decide the fate of Sahara chief Subrata Roy and two group directors who are in jail since March 4 last year for not complying with the court's order to return investors' Rs.24,000 crores that two group companies SIRECL and SHFCL had collected in 2007-08.

Subrata Roy, the chief of Sahara Group, died at the age of 75 on Tuesday. The company announced that he died from cardiorespiratory arrest at 10:30 pm after a prolonged struggle with complications related to metastatic malignancy, hypertension.

Sahara Group founder and Chairman Subrata Roy died today at a Mumbai hospital after battling a long illness, the company said in a statement.

The Supreme Court on Thursday set aside a Delhi High Court order staying a Serious Fraud Investigation Office (SFIO) probe into nine companies related to the Sahara group.

The Delhi High Court has stayed the operation and implementation of two orders of the Centre for investigation into nine companies related to the Sahara Group.

The Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion.

The case relates to OFCDs issued by two companies of Sahara group in 2008 after taking approval from the Ministry of Corporate Affairs.

A Dubai investment group and a New York real estate company have reached a deal to buy the stake for $600 million

Bihar Deputy Chief Minister Sushil Kumar Modi today alleged that the Sahara group helped Lalu Yadav and his family in buying a posh property from the Tata group through a shell company in Patna, a charge denied by the RJD.

ICICI Prudential Life, the first Indian insurance company to get listed, further said it was evaluating the way forward for taking over Sahara Life.

Force India COO Szafnauer said that it makes sense to change the team's name.

Market watchdog SEBI had filed a case against Subrata Roy and two of his companies in 2012.

Besides Mr Roy, two other directors - Ravi Shankar Dubey and Ashok Roy Choudhary - were arrested for failure of the group's two companies - Sahara India Real Estate Corporation (SIRECL) and Sahara Housing Investment Corp Ltd (SHICL) - to comply with the court's August 31, 2012 order to return Rs 24,000 crore to their investors.

The opposition alleged today that Prime Minister Narendra Modi has been ensured unwarranted protection by tax officials who have decided not to investigate the Sahara Group over alleged bribes that were paid to politicians, according to "diary entries" found in raids on the company's offices in 2014.

Hours after the Supreme Court asked it to disclose the source of its money, the Sahara Group said the money collected through optionally fully-convertible debentures (OFCD) were invested in various assets and the group companies made the money available when the need arose for making repayments to the investors.

The Supreme Court is likely to pronounce, on Friday, the verdict that will decide the fate of Sahara chief Subrata Roy and two group directors who are in jail since March 4 last year for not complying with the court's order to return investors' Rs.24,000 crores that two group companies SIRECL and SHFCL had collected in 2007-08.