Tag: Sahara

Top Law News

SC grants Subrata Roy 10 days to deposit Rs 709.82 cr

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The Supreme Court today granted Sahara chief Subrata Roy 10 more working days to deposit Rs 709.82 crore out of the promised Rs 1,500 crore and extended its interim order granting him bail till July 5. A bench comprising Justices Dipak Misra and Ranjan Gogoi considered the submissions of senior advocate Kapil Sibal, appearing for […]

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High Profile Cases

SC asks Sahara chief to appear before it on April 28

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The Supreme Court today asked Bombay High Court’s official liquidator to sell the Rs 34,000 crore worth of properties of the Aamby Valley owned by the Sahara Group and directed its chief Subrata Roy to personally appear before it on April 28. “Enough is enough. You cannot say something today and resile tomorrow,” a bench, […]

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High Profile Cases

SC asks Sahara to deposit Rs 5092.6 cr to keep Roy out of jail

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The Supreme Court today directed the Sahara Group to deposit Rs 5092.6 crore by April 7 in the SEBI-Sahara account to keep its chief Subrata Roy out of jail and said the amount will be refunded to the investors. A bench headed by Justice Dipak Misra refused to give six months time to the group […]

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High Profile Cases

SC orders attachment of Sahara’s prime Aamby Valley property

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In a big blow to beleaguered businessman Subrata Roy, The Supreme Court today directed attachment of Sahara Group’s prime property worth Rs 39,000 crore at Aamby Valley in Pune for realisation of money to be paid to its investors. The apex court also asked Sahara Group to provide it within two weeks the list of […]

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Top Law News

SC cancels parole of Subrata Roy, asks to surrender in a week

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Sahara Chief Subrata Roy and two other group directors will have to surrender to custody within a week, with the Supreme Court today terminating the “interim arrangements” of granting parole to them. The apex court, earlier in the day, was infuriated due to some alleged intemperate remarks of Sahara counsel and senior advocate Rajeev Dhawan, […]

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High Profile Cases

SC asks Sahara to furnish details of all properties

/ by Legal India News | 1 Comment on SC asks Sahara to furnish details of all properties

The Supreme Court Wednesday directed the Sahara group to furnish details of all its properties in a sealed cover to ascertain whether the group could repay the entire amount to the investors. “We should know about the total assets of the Sahara group. What exactly is the extent of properties, we must know. Currently, 66 […]

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Public Utilities Top Law News

SC gives Sahara 18 months to pay up Rs.36,000 crore

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While approving the manner in which Sahara would furnish its bank guarantee, the Supreme Court on Friday directed that the group will have to pay the remaining liability it owes to the market regulator, Securities and Exchange Board of India (Sebi), within 18 months from the time its chief Subrata Roy is released. Accepting the […]

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Court, Judiciary & Legal System

SC nod to Sahara to proceed with foreign loan transactions

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The Supreme Court on Friday allowed Sahara Group to go ahead with its proposed transactions for a loan of around US dollar 1,050 million from abroad for raising Rs 10,000 crores to ensure release of Subrata Roy from jail. However, the apex court put conditions including the approval of RBI for the transfer to India […]

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Top Law News

You are “manipulating” courts: SC to Sahara group

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The Supreme Court, on Monday, pulled up the Sahara group for not furnishing details of the depositors to the Securities and Exchange Board of India (SEBI), and made it clear that if there were untraced depositors in the total deposits of about Rs.24,000 crore, the money should be remitted to the Central Government. A Bench […]

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Top Law News

Will refund Rs 24k cr to investors in 3 mths: Sahara

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Sahara Group today assured the Supreme Court that its two companies, which had raised Rs 24,000 crore through Optionally Fully Convertible Debentures (OFCDs) from their investors, will refund the amount within three months. “We will refund the amount. There is no question of going back,” Senior Advocate Gopal Subramaniam, appearing for the company, told a […]

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