SC gives three months time for Sahara for concluding deal
Expressing "prima facie satisfaction", the Supreme Court today granted three months time to Sahara Group for selling its offshore properties for raising Rs 10,000 crore to ensure the release of its Chief Subrato Roy, who has been in jail for a year for non-refund of over Rs 20,000 crore to depositors.
Mar 23, 2015, 16:27 PM IST
D-day for Subrata Roy as Supreme Court to decide future of Sahara Group
If it fails to raise the cash, the court could appoint a receiver to auction its assets, which include properties such as New York`s Plaza hotel and tracts of land in India.
Mar 23, 2015, 08:53 AM IST
Mirach to file $400 million defamation suit against Sahara
Accusing Mirach Capital of cheating and forgery in the failed USD 2.05 billion loan arrangement, Sahara had also said last month that it has initiated legal action against the US-based firm.
Mar 17, 2015, 09:54 AM IST
SC grants Sahara final chance
The Supreme Court on Friday gave the Sahara group a third and final chance to negotiate its proposed deal for arranging money for the release of its chief executive, Subrata Roy from jail.
Mar 13, 2015, 15:57 PM IST
SEBI cancels Sahara AMC registration as portfolio manager
In fresh troubles for crisis-hit Saharas, regulator SEBI Friday ordered cancellation of Sahara Asset Management Company's registration as portfolio manager, saying that "antecedents" of Subrata Roy and some group firms may cause "prejudice to the interests of investors".
Feb 27, 2015, 17:55 PM IST
Sahara employees face salary delays on liquidity crunch
Sahara's long-drawn dispute with regulator Sebi over investor repayments has begun to take its toll on salaries of the group's employees, which are getting delayed amid a major liquidity crunch.
Feb 27, 2015, 12:29 PM IST
RBI not barred to proceed against Sahara finance company, says SC
The Supreme Court Tuesday told the Reserve Bank of India to go ahead with its action against Sahara India Finance Corporation Ltd (SIFCL) for divesting its securities in violation of the central bank`s 2008 order and the NBFC guidelines and rules.
Feb 24, 2015, 21:09 PM IST
Sahara lands in another trouble, SC fiat on diversion of funds
Facing tough times in its attempt to get its Chief Subrata Roy out of jail, Sahara Group on Tuesday landed in a soup again as the Supreme Court asked it to explain how it encashed securities, deposited with RBI, and diverted them to pay depositors to the tune of Rs 484 crore without the court's nod.
Feb 24, 2015, 19:32 PM IST
US authorities probe alleged forged letter from Mirach in Sahara deal
Sahara had sought to borrow more than $1 billion from Mirach to help bail its chairman, Subrata Roy, out of jail in New Delhi.
Feb 19, 2015, 08:55 AM IST
Preparing our own legal action against Sahara: Mirach Capital
In the statement, Mirach's Indian-origin CEO Saransh Sharma said: "The allegations are frivolous, and are wasting time as the February 20 deadline approaches.
Feb 13, 2015, 17:46 PM IST
Sahara says taking legal action against Mirach after deal collapse
The talks involved a loan by Mirach secured against some of Sahara`s properties including New York`s Plaza hotel, but they collapsed acrimoniously.
Feb 13, 2015, 15:40 PM IST
Preparing legal action against Sahara: Mirach
The Subrata Roy-led Sahara group has accused Mirach of "cheating and forgery" in the failed USD 2.05 billion loan arrangement and said it has initiated legal action against the US-based firm.
Feb 13, 2015, 09:05 AM IST
Mirach fiasco: Sahara initiates legal action; eyes new deal
Accusing Mirach Capital of "cheating and forgery" in the failed USD 2.05 billion loan arrangement, Sahara today said it has initiated legal action against the US-based firm and it is now working on a new deal to raise funds to secure bail for its chief Subrata Roy.
Feb 12, 2015, 18:40 PM IST
SEBI questions ownership of Sahara properties: Sources
Officials at Securities and Exchange Board of India (SEBI), which is seeking redress for millions of investors it says were burnt in conglomerate Sahara`s illegal bond scheme, say the group may not wholly own some of the properties in India it listed as proof of its ability to repay the savers.
Feb 11, 2015, 22:32 PM IST
Mirach asks Supreme Court to let it buy Sahara assets
US-based Mirach Capital Group claims to have returned USD 2.625 million to Sahara Group and asked the Supreme Court to intervene and allow a sale of its assets to its "ready, willing, and able investors."
Feb 11, 2015, 12:35 PM IST
Mirach calls off Sahara loan deal, returns fees
The Court had given time till February 20 for the deal, but it fell apart after Bank of America disclosed that it was not involved in the deal as was being claimed.
Feb 11, 2015, 10:57 AM IST
Sahara saga: Mirach says 3 hotels can fetch maximum $1.67 billion
As the blame-game continues over their floundered deal, US-based Mirach Capital has claimed that Sahara's three overseas hotels can fetch a maximum valuation of USD 1.67 billion (Rs 10,400 crore).
Feb 08, 2015, 14:32 PM IST
Tender apology or pay compensation: Mirach warns Sahara
In a fresh twist to the alleged "forgery" saga, US-based Mirach on Saturday asked Sahara to make a "formal apology" for tarnishing its image, failing which it warned of legal action and demanded over USD 13 million in compensation for breach of contract.
Feb 07, 2015, 15:37 PM IST
Mirach hits back at Sahara; offers to buy out overseas hotels
Mirach further accused Sahara of repeatedly undermining a transaction for sale of its properties and said it "wasted" the time of its investors as also that of Sebi and the courts.
Feb 06, 2015, 10:06 AM IST
Mirach gave forged BofA letter, to take legal action: Sahara
Stung by a "forged letter" claiming USD 2-billion funding through Bank of America, crisis-hit Sahara group today said it has been "cheated" by US-based Mirach Capital and would take all suitable legal action against the firm and its officers.
Feb 05, 2015, 23:58 PM IST
