Tag: Sahara Group

High Profile Cases

Sahara Group firm to pay Rs 1.43 cr to home buyer for delay

by Legal India Admin | Leave a Comment

A Sahara Group company has been directed by the apex consumer body to refund over Rs 1.43 crore to a home buyer for its failure to give possession of a bungalow in one of its housing projects near Nagpur. The National Consumer Disputes Redressal Commission (NCDRC) held Sahara Prime City Ltd (SPCL) deficient in rendering […]

Read more »

Top Law News

‘Agreement reached to sell luxury hotels’

by Legal India Admin | 1 Comment on ‘Agreement reached to sell luxury hotels’

Sahara group has reached an agreement with a foreign party to sell its three luxurious hotels in London and New York and a reputed foreign bank has also agreed to grant bank guarantee for Rs 5,000 crore, its chief Subrata Roy Thursday told the Supreme Court which granted him 15 more working days to complete […]

Read more »

Top Law News

SC rejects Roy’s plea for house arrest, lifts curbs on sale of assets

by Legal India Admin | Leave a Comment

Change of the judges on the bench failed to revise the fate of yet another plea by the Sahara Group as the Supreme Court on Wednesday refused to release Subrata Roy from jail and also junked a request to shift him to a guest house for putting him under house arrest. In its first order […]

Read more »

Top Law News

Supreme court to hear Sahara Group proposal

/ by Legal India Admin | Leave a Comment

The Supreme Court will on Friday hear a proposal by the Sahara Group to pay SEBI a substantial amount as surety to return investors the Rs.19,000 crore it had collected through Optionally Fully Convertible Debentures. Senior counsel Rakesh Dwivedi, appearing for the Sahara Group, told the apex court bench headed by Justice K.S. Radhakrishnan that […]

Read more »

Top Law News

Lawyer who threw ink at Sahara chief sent to jail

/ by Legal India Admin | Leave a Comment

The lawyer, who threw black ink at Sahara Group chief Subrata Roy in the Supreme Court premises yesterday, was on Wednesday sent to Tihar jail by a Delhi court after he failed to get a surety for his bail. Manoj Sharma was produced before Special Executive Magistrate Rai Singh Khatri who remanded him in judicial […]

Read more »

Top Law News

SC notice to Sahara firms on SEBI’s contempt plea

by Legal India Admin | Leave a Comment

The Supreme Court Wednesday issued notice to Sahara Group’s two real estate companies on a petition by the Securities and Exchange Board of India seeking contempt proceedings against them for their failure to comply with Dec 5, 2012, order of the apex court. The apex court order of Dec 5, 2012, asked the market regulator […]

Read more »

Corporate Law News

SC stays proceedings on Sahara group & Subrata Roy’s petition

/ by Legal India Admin | Leave a Comment

Proceedings on plea filed by the Sahara group and its chief Subrata Roy has been stayed by the Supreme Court here in New Delhi. The plea was filed against refunding Rs 24,000 crore to investors and attachment of their properties after the Sebi accused them of approaching different forums for delaying the process. A bench comprising by justices KS Radhakrishnan and JS Khehar […]

Read more »

Corporate Law News

SC stays proceedings on Sahara group & Subrata Roy’s petition

by Legal India Admin | Leave a Comment

Proceedings on plea filed by the Sahara group and its chief Subrata Roy has been stayed by the Supreme Court here in New Delhi. The plea was filed against refunding Rs 24,000 crore to investors and attachment of their properties after the Sebi accused them of approaching different forums for delaying the process.   A bench comprising by justices KS Radhakrishnan and JS […]

Read more »

Corporate Law News

No contempt made out against us: Sahara to SC

by Legal India Admin | Leave a Comment

“No case of contempt is made out against them as they have complied with its directions on the issue of supplying documents to Sebi and has started refunding Rs 24,000 crore to its investors,” said by the  Sahara group and its promoter Subrata Roy  to Supreme court here in New Delhi. The Sahara group mentioned the matter before a […]

Read more »

Corporate Law News

SC agrees to give early hearing to SEBI plea against Sahara

by Legal India Admin | Leave a Comment

Here in New Delhi to give an early hearing to SEBI’s plea seeking its permission to detain Sahara Group’s chairman Subrata Roy Sahara the Supreme Court has got agreed and also to initiate contempt proceedings against him for not complying with its orders to refund Rs. 24,000 crore to investors. A bench headed by Justice K S Radhakrishnan posted the […]

Read more »

Corporate Law News

SC declines to hear plea by Sahara Group companies

by Legal India Admin | Leave a Comment

The last hope of Sahara group to get more time to refund Rs 24,000 crore to its investors was dashed in the Supreme Court which dismissed its plea and pulled it up for not complying court’s earlier order to return the money by first week of February. A bench headed by Chief Justice Altamas Kabir, which had earlier […]

Read more »

Top Law News

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

by Legal India Admin | Leave a Comment

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 […]

Read more »