SC asks Sahara Group to furnish list of top officials, properties for sale
6 months, 3 weeks ago

SC asks Sahara Group to furnish list of top officials, properties for sale

The Hindu  

The Supreme Court on Wednesday asked the Sahara Group to apprise it of its officials at the helm and the current shareholders besides the list of unencumbered properties which can be sold to realise ₹10,000 crore. In a series of directions on August 31, 2012, the top court had directed that Sahara Group firms – Sahara India Real Estate Corporation Ltd and Sahara Housing Investment Corporation Ltd – would refund the amount collected from individual investors or group of investors, with interest of 15% per annum to SEBI from the date of receipt of the subscription amount till the date of repayment within three months. On Tuesday, the top court said there is no embargo on Sahara Group to sell its properties for depositing around ₹10,000 crore in SEBI-Sahara refund account for returning investors’ money. While expressing displeasure over the Sahara Group not depositing the full payment as directed by the court, the bench had said, “There is no embargo on Sahara Group in selling its properties for depositing the remaining ₹10,000 crore out of ₹25,000 crore ordered by the court. Earlier, SEBI told the court that in terms of the 2012 order of the top court, Sahara firms have till date deposited ₹15,455.70 crore which has been invested in fixed deposits of various nationalised banks and as on September 30, 2020, the total amount along with interest earned in SEBI-Sahara refund account is ₹22,589.01 crore.

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History of this topic

SC seeks Maharashtra govt’s response on Sahara’s Versova land sale eligibility
1 month, 2 weeks ago

SC seeks Maharashtra govt’s response on Sahara’s Versova land sale eligibility

Live Mint  

New Delhi: The Supreme Court on Wednesday sought a response from the Maharashtra government on the environmental status of debt-ridden Sahara Group’s 106-acre Versova land in Mumbai. In January, the Supreme Court had directed Sebi to evaluate proposals from Oberoi Realty and Valor Realty for developing the Versova land. In September 2023, the Supreme Court allowed Sahara to form a …

SEBI v. Sahara| Supreme Court Asks SEBI To Examine Sahara Group's Proposed JV Agreement For Versova Land
Trending News
2 months, 3 weeks ago

SEBI v. Sahara| Supreme Court Asks SEBI To Examine Sahara Group's Proposed JV Agreement For Versova Land

Live Law  

The Supreme Court today directed the Security Exchange Board of India to examine Sahara Group's Joint Venture Agreement proposed for developing latter's Versova land in Mumbai and file sealed cover response before the Court. Notably, the Court on September 5, 2024 directed Sahara Group to deposit Rs 1000 crores in a separate escrow account within 15 days and also allowed …

Sahara’s Versova property: SC directs Sebi to examine development proposals from Oberoi Realty and Valor Realty
2 months, 3 weeks ago

Sahara’s Versova property: SC directs Sebi to examine development proposals from Oberoi Realty and Valor Realty

Live Mint  

The Supreme Court has directed the Securities and Exchange Board of India to evaluate proposals submitted by real estate developers Oberoi Realty and Valor Realty for the development of debit-ridden Sahara Group’s 106-acre Versova land in Mumbai. In September, the bench also allowed Sahara’s firms—Sahara India Real Estate Corporation Ltd and Sahara Housing Investment Corporation Ltd —to pursue joint ventures …

Supreme Court Reluctant To Allow ED Attachment Of Sahara Properties, Says Investors Will Get Nothing
6 months, 4 weeks ago

Supreme Court Reluctant To Allow ED Attachment Of Sahara Properties, Says Investors Will Get Nothing

Live Law  

During the hearing of contempt pleas filed against Sahara India, the Supreme Court yesterday called on the conglomerate to place before it a scheme as to how it plans to deposit the outstanding sum in the Sahara-SEBI Refund Account. The Court also asked the company to give a list of its unencumbered properties.The matter was before a bench of Justices …

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes
8 months ago

Rajasthan RERA Orders Refund To Four Homebuyers Of Sahara City Homes

Live Law  

Rajasthan Real Estate Regulatory Authority Bench, comprising Veenu Gupta, has directed Sahara Prime City Limited, the builder, to refund the amount paid by four homebuyers of the Sahara City Homes project, Jaipur after the builder failed to provide timely possession. Background Facts Homebuyers booked flat numbers B8/904, B5/502, C4/701, and C8/701 in the Sahara City Homes project situated in Jaipur, …

Sahara investors protest against government failure to refund deposits
1 year, 1 month ago

Sahara investors protest against government failure to refund deposits

The Hindu  

February 01, 2024 08:40 pm | Updated 08:41 pm IST - NEW DELHI Hundreds of people who invested in four cooperatives run by the Sahara group protested in Delhi on February 1 against the government’s failure to refund the deposits. Ram Dulare, a sanitation worker from Delhi, said he had invested ₹2.5 lakh in the Sahara cooperatives six years ago …

SEBI to sustain action against Sahara even after founder’s death, says Buch
1 year, 4 months ago

SEBI to sustain action against Sahara even after founder’s death, says Buch

The Hindu  

The Sahara India matter would continue even after the death of the group’s founder and chairman Subrata Roy, Securities & Exchange Board of India chairperson Madhabi Puri Buch said on Thursday, a day after Mr. Roy passed away following illness in Mumbai. The investors will get their money back going forward,” Ms Buch said on the sidelines of an event …

First installment of Rs 10,000 each transferred to 112 Sahara beneficiaries, says Amit Shah
1 year, 7 months ago

First installment of Rs 10,000 each transferred to 112 Sahara beneficiaries, says Amit Shah

Firstpost  

“Today, the first instalment of Rs 10,000 each has been transferred to 112 beneficiaries. Till now, 18 lakh people have registered on the portal,” said Shah Union Home and Cooperative Minister Amit Shah on Friday transferred first installment of Rs 10,000 each to 112 beneficiaries of the four cooperative societies of the Sahara Group through the Sahara Refund Portal in …

In Sahara saga, small investors find a new hope
1 year, 8 months ago

In Sahara saga, small investors find a new hope

The Hindu  

Soon after a new Ministry to look after the cooperative sector was formed in 2021, the corridors of its old offices at Krishi Bhavan in Delhi’s Central Secretariat were filled with thousands of letters and postcards. On July 18, the Central government set up the Central Registrar of Cooperative Societies portal — mocrefund.crcs.gov.in — for small investors in Sahara companies …

Government launches portal to help small-time investors of Sahara group’s cooperative society
1 year, 8 months ago

Government launches portal to help small-time investors of Sahara group’s cooperative society

The Hindu  

Union Home and Cooperation Minister Amit Shah on July 18 launched a portal to refund the money of around four crore small-time investors of four cooperative societies linked to the Sahara group of companies. Launching the portal on the Ministry’s website, Mr. Shah said that 1.7 crore investors will benefit in first phase and claims upto ₹10,000 will be settled …

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals
2 years ago

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals

Live Law  

The Supreme Court on Wednesday allowed an application filed by the Central Government seeking allocation of ₹ 5,000 crore out of ₹ 24,979 crores deposited by the Sahara group with the Securities and Exchange Board of India to repay the dues of the depositors of the Sahara Group of Cooperative Societies.The Court ordered that out of the total amount of …

10 crore depositors of Sahara group to get refund from escrow account
2 years ago

10 crore depositors of Sahara group to get refund from escrow account

The Hindu  

Following a petition by the Ministry of Cooperation, the Supreme Court on March 29 ordered the reimbursement from the Sahara-SEBI refund account to about 10 crore investors. The court ordered that out of the balance amount in the Sahara-SEBI refund account, ₹5,000 crore be transferred to the Central Registrar. Sahara Group’s four societies— Sahara Credit Cooperative Society Limited, Saharayan Universal …

Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy
2 years ago

Sebi recovers ₹6.57 crore dues from Sahara Group, its chief Subrata Roy

Live Mint  

Markets regulator Sebi on Tuesday said it has recovered pending dues worth ₹6.57 crore from Sahara India Real Estate Corporation, its chief Subrata Roy, and others in the case pertaining to flouting norms in issuance of optionally fully convertible debentures. "In view of the payment of the amount of ₹6.57 crore due under the certificate, the said certificate is hereby …

10 crore Sahara group investors will get back their money with interest: Amit Shah
2 years ago

10 crore Sahara group investors will get back their money with interest: Amit Shah

Op India  

On Wednesday, March 30, Union Home Minister Amit Shah assured that the 10 crore individuals whose investment is stuck in the four cooperative societies run by the Sahara group will get back their money with interest. The HM’s assurance came hours after Supreme Court allowed a plea by the Centre seeking allocation of Rs 5,000 crore, out of RS 24,000 …

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
2 years, 3 months ago

SEBI orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

The Hindu  

SEBI on December 26 ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover ₹6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities—Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana Bhargava—for ₹6.42 …

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others
2 years, 3 months ago

Sebi orders attachment of bank, demat accounts of Sahara group firm, Subrata Roy, others

India Today  

Sebi on Monday ordered the attachment of bank and demat accounts of Sahara Group firm, its chief Subrata Roy and others to recover Rs 6.42 crore for violating regulatory norms in the issuance of optionally fully convertible debentures. The recovery proceedings against five entities -- Sahara India Real Estate Corporation, Subrata Roy, Ashok Roy Choudhary, Ravi Shanker Dubey and Vandana …

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore
2 years, 5 months ago

SEBI bars Bombay Dyeing, Ness Wadia, others from securities market for up to two years; imposes fines of ₹15.75 crore

The Hindu  

Securities and Exchange Board of India has barred 10 entities, including Bombay Dyeing & Manufacturing Company Limited and its promoters — Nusli N Wadia, Ness Wadia and Jehangir Wadia — from the securities markets for up to two years and levied a fine totalling ₹15.75 crore on them for being involved in a fraudulent scheme of misrepresenting the company's financial …

End relief to Sahara group, SEBI tells SC
4 years, 4 months ago

End relief to Sahara group, SEBI tells SC

The Hindu  

The Securities and Exchange Board of India has asked the Supreme Court to cut short the “long rope” given to the Sahara group and direct it to cough up ₹62,602.90 crore in dues or send its chief, Subrata Roy, to jail for contempt. “Direct the Saharas to forthwith deposit the balance amount of ₹62,602.90 crore as on September 30, failing …

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid
4 years, 4 months ago

SEBI moves SC for payment of ₹ 62K crore from Sahara firms, wants Subrata Roy in custody if not paid

The Hindu  

Markets regulator SEBI has moved the Supreme Court seeking direction to two Sahara firms to pay ₹ 62,602.90 crore in compliance with the court’s earlier orders, failing which the group’s chief Subrata Roy be taken into custody. SEBI said the contemnors, Roy and his two firms — Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. — …

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit
4 years, 4 months ago

'Sahara Must Pay Rs. 62,602 Crore That It Collected From Public': SEBI Moves Supreme Court Seeking Custody Of Subrata Roy For Failure To Deposit

Live Law  

The Securities and Exchange Board of India has moved Supreme Court against Sahara India Real Estate Corporation Ltd. and Sahara Housing Investment Corporation Ltd. for INR 62,602 crore which it had collected from the public.The Market Regulator seeks that the Contemner be held in contempt & be taken into custody, if it fails to deposit the said amount.SEBI. The Securities …

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail
4 years, 4 months ago

Sebi asks Sahara chief Subrata Roy to Pay ₹626 billion to avoid jail

Live Mint  

India’s markets regulator has petitioned the Supreme Court to direct tycoon Subrata Roy to pay ₹626 billion immediately, or cancel his parole if he doesn’t yield. The Securities and Exchange Board of India said the outstanding liability of the Sahara India Parivar group’s two companies and the group’s chief Roy stand at ₹626 billion, including interest, according to court filings …

All problems to be resolved in 2020: Sahara chief Subrata Roy
5 years, 1 month ago

All problems to be resolved in 2020: Sahara chief Subrata Roy

Live Mint  

Hopeful of all its problems getting resolved this year, embattled Sahara group's chief Subrata Roy has said two large foreign investors have been roped in for real estate and city development businesses and nearly ₹22,000 crore deposited with regulator Sebi will also eventually come back. Referring to a long-running dispute with capital market regulator Sebi over funds garnered by two …

SEBI tells Sahara India Commercial Corp to refund over Rs 14,000 cr raised via OFCDs with 15% interest to investors
6 years, 4 months ago

SEBI tells Sahara India Commercial Corp to refund over Rs 14,000 cr raised via OFCDs with 15% interest to investors

Firstpost  

New Delhi: In a fresh crackdown on Saharas, regulator SEBI has found another group firm to have raised over Rs 14,000 crore in violation of rules and has ordered the company and its then directors including Subrata Roy to refund the money with 15 percent annual interest. In her 54-page order, SEBI’s Whole Time Member Madhabi Puri Buch said the …

No takers for Aamby Valley, liquidator tells Supreme Court
6 years, 8 months ago

No takers for Aamby Valley, liquidator tells Supreme Court

Live Mint  

The court had, in April, permitted Sahara Group to sell any land parcel in Aamby Valley, carved out under a Bombay high court official liquidator’s plan, and deposit the proceeds into the Sebi-Sahara account by 15 May in order to avert the auction scheduled to be held on 2 June. The plan of the official liquidator of the Bombay HC …

SC gives nod for auction of Aamby Valley assets
6 years, 10 months ago

SC gives nod for auction of Aamby Valley assets

Live Mint  

New Delhi: The Supreme Court on Wednesday gave the go-ahead to the auction process for the Sahara group’s Aamby Valley properties after it failed to deposit Rs750 crore in the Sebi-Sahara refund account by the 15 May deadline. A three-judge bench headed by Chief Justice Dipak Misra was informed by Vikas Singh, counsel for Sahara chief Subrata Roy and the …

Supreme Court gives Sahara till 15 May to sell part of Aamby Valley
6 years, 11 months ago

Supreme Court gives Sahara till 15 May to sell part of Aamby Valley

Live Mint  

New Delhi: The Supreme Court on Thursday permitted the Sahara Group to sell a part of its flagship property, Aamby Valley in Maharashtra, and deposit the proceeds into the Sebi-Sahara account by 15 May. The court said that if Sahara is unable to raise money to pay its dues, it would proceed with the plan submitted by the Bombay HC …

Sebi directs Sahara Mutual Fund to wind up all its schemes by 27 July, asks firm not to accept new investors
6 years, 11 months ago

Sebi directs Sahara Mutual Fund to wind up all its schemes by 27 July, asks firm not to accept new investors

Firstpost  

New Delhi: Markets regulator Sebi on Wednesday asked Sahara Mutual Fund to wind up all its schemes. However, the fund house has been allowed to continue its Sahara Tax Gain Fund’ till 27 July but without accepting any new investor. In its submission to Sebi, Sahara MF said that implementation of the timelines specified in the July order could lead …

Sahara case: Aamby Valley sees just 2 potential bidders; Rs 37,392 cr auction on 10, 11 Oct
7 years, 6 months ago

Sahara case: Aamby Valley sees just 2 potential bidders; Rs 37,392 cr auction on 10, 11 Oct

Firstpost  

No single real estate player in India will be financially in a position to buy the “ultra- exclusive chartered city” as the sector is undergoing a cash crunch now Mumbai: Only two potential bidders are believed to have shown initial interest for embattled Sahara group’s super luxurious Aamby Valley resort town, which has been put up for a Supreme Court …

Sahara case: SC pushes for Aamby Valley auction, company in $1.6 bn loan pact with Dubai fund
7 years, 6 months ago

Sahara case: SC pushes for Aamby Valley auction, company in $1.6 bn loan pact with Dubai fund

Firstpost  

The liquidator has fixed the reserve price for the luxury resort town project at about Rs 37,000 crore, though the group pegs its market valuation at over Rs 1 lakh crore. New Delhi: Embattled Sahara group today said a Dubai investment fund has agreed to provide a loan of USD 1.6 billion against security of 26 percent shares of its …

SC rejects Sahara chief Subrata Roy's plea seeking two months' extension to deposit Rs 966 cr
7 years, 6 months ago

SC rejects Sahara chief Subrata Roy's plea seeking two months' extension to deposit Rs 966 cr

Firstpost  

The Supreme Court on Monday rejected Sahara chief Subrata Roy’s plea seeking two more months to deposit Rs 966.80 crore of the remaining Rs 1,500 crore, saying he was trying to treat the apex court as “a laboratory” to play with the law. New Delhi: The Supreme Court on Monday rejected Sahara chief Subrata Roy’s plea seeking two more months …

Sebi-Sahara case: Amby Valley put up for auction by HC, reserve price Rs 37,392 crore
7 years, 7 months ago

Sebi-Sahara case: Amby Valley put up for auction by HC, reserve price Rs 37,392 crore

Firstpost  

Royale Partners Investment Fund, a Mauritius-based investor, said it has offered to invest $1.67 billion in the Sahara group’s Aamby Valley project Three days after a Supreme Court directive, the Bombay High Court on Monday put up the beleaguered Sahara Group’s prestigious Aamby Valley city in Lonavala for a public auction even as a Mauritius-based fund seems to have evinced …

Sahara: Subrata Roy Urges SC To Put On Hold Auctioning Of Aamby Valley
7 years, 7 months ago

Sahara: Subrata Roy Urges SC To Put On Hold Auctioning Of Aamby Valley

Live Law  

Sahara chief Subrata Roy today requested the Supreme Court to put on hold the auction process to sell the group's Rs 34,000-crore worth Aamby Valley property by the official liquidator of the Bombay High Court.On July 25, the bench had asked the official liquidator of the Bombay High Court to proceed with the publication of sale notice with regard to …

Securities Appellate Tribunal rejects Sahara plea against Sebi order on mutual fund business
7 years, 8 months ago

Securities Appellate Tribunal rejects Sahara plea against Sebi order on mutual fund business

Firstpost  

The Tribunal said the law empowers Sebi to take actions in the interest of protecting investors Mumbai: The Securities Appellate Tribunal on Friday rejected Sahara’s plea against a Sebi order cancelling its mutual fund licence, but granted the company six weeks’ time to approach the Supreme Court. Sebi had ordered cancellation of ‘certificate of registration’ of Sahara Mutual Fund in …

SEBI to e-auction Sahara property in Uttarakhand on July 28
7 years, 8 months ago

SEBI to e-auction Sahara property in Uttarakhand on July 28

India TV News  

Capital markets regulator Securities and Exchange Board of India will auction a property owned by Sahara in Uttarakhand, for a total reserve price of little over Rs 223 crore, on July 28, as part of the process to recover funds from the beleaguered group. In a public notice today, the SEBI said that SBI Capital Markets has been mandated to …

5 years on, Sebi’s quest to find Sahara bondholders unsuccessful
7 years, 9 months ago

5 years on, Sebi’s quest to find Sahara bondholders unsuccessful

Live Mint  

Mumbai: Roughly five years ago, the Supreme Court ordered the Sahara Group to deposit around Rs24,000 crore with the Securities and Exchange Board of India. {{^adFree}} {{/adFree}} According to a 23 May Mint report, Sahara’s total dues with interest exceed Rs47,000 crore. In April, the company had given an undertaking to the Supreme Court that it would deposit Rs1,500 crore …

Will auction Aamby Valley if Rs 5,092.6 cr deposit is not paid, says SC to Sahara
7 years, 11 months ago

Will auction Aamby Valley if Rs 5,092.6 cr deposit is not paid, says SC to Sahara

Firstpost  

The Supreme Court on Thursday said if the Sahara Group fails to deposit Rs 5,092.6 crore in SEBI-Sahara refund account by 17 April in pursuance of its order, it will be ‘compelled’ to auction its property valued at Rs 39,000 crore at Aamby Valley in Pune. “Whatever you do, we had told you that a substantial amount must come, otherwise …

Pay Rs 5,000 Cr By Apr 17 Or We Auction Aamby Valley: SC To Subrata Roy [Read Order]
8 years ago

Pay Rs 5,000 Cr By Apr 17 Or We Auction Aamby Valley: SC To Subrata Roy [Read Order]

Live Law  

We will auction your Aamby Valley project if the money is not deposited within the stipulated time period as promised”, SC Bench to Sahara Group.The Supreme Court today issued a fresh and last warning to the Sahara Group that it would auction its prime property worth Rs 39,000 crore at Aamby Valley in Pune if Rs 5092.6 crore is not …

Supreme Court asks Sahara to deposit Rs 5,100 crore by April 17
8 years, 1 month ago

Supreme Court asks Sahara to deposit Rs 5,100 crore by April 17

Deccan Chronicle  

New Delhi: The Supreme Court on Tuesday directed Sahara to deposit about Rs 5,100 cr on or before April 17, the sale proceeds of the properties of its flagship project, Aamby valley property’ near Pune in Maharashtra which have been attached by the court. Sikri rejected senior counsel for Sahara, Kapil Sibal’s plea seeking six months time to sell the …

Supreme Court asks Sahara to deposit Rs 5092.6 cr to keep Subrata Roy out of jail
8 years, 1 month ago

Supreme Court asks Sahara to deposit Rs 5092.6 cr to keep Subrata Roy out of jail

India TV News  

In a big relief to Subrata Roy Sahara, the Supreme Court today directed Sahara Group to deposit Rs 5092.6 crore by April 7 in the SEBI-Sahara account to keep its chief out of jail and said the amount will be refunded to the investors. The court refused to give six months time to the group to sell its properties but …

Deposit Rs 5092.6 Cr To Remain Out Of Jail: SC To Roy [Read Order]
8 years, 1 month ago

Deposit Rs 5092.6 Cr To Remain Out Of Jail: SC To Roy [Read Order]

Live Law  

The Sahara Group was today directed by the Supreme Court 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.Sahara’s lawyers originally asked for six months time to make the payment but the bench of Justices Dipak Misra, Ranjan …

After Aamby Valley property, ED seeks SC nod to attach Sahara Group's overseas assets
8 years, 1 month ago

After Aamby Valley property, ED seeks SC nod to attach Sahara Group's overseas assets

Firstpost  

The Enforcement Directorate now has sought the Supreme Court’s nod to attach the group’s hotels and four other properties present in overseas destinations More trouble seems to be brewing for the beleaguered Sahara Group chairman Subrata Roy. After the Apex Court earlier this week ordered the government to attach Sahara Group’s Aamby Valley property near Pune, the Enforcement Directorate now …

SC Orders Attachment Of Roy’s Amby Valley; Seeks List Of Other Properties [Read Order]
8 years, 1 month ago

SC Orders Attachment Of Roy’s Amby Valley; Seeks List Of Other Properties [Read Order]

Live Law  

In a huge setback to Sahara Group chief Subrata Roy, the Supreme Court today ordered the attachment of the company’s prime Amby Valley property in Pune, It is approximately worth Rs 39,000 crore.A special bench headed by justice Dipak Misra said the drastic step was needed to force Sahara and Roy to expedite the payment of balance Rs 14,779 crore.The …

SC Orders Attachment Of Roy’s Amby Valley; Seeks List Of Other Properties [Read Order]
8 years, 1 month ago

SC Orders Attachment Of Roy’s Amby Valley; Seeks List Of Other Properties [Read Order]

Live Law  

In a huge setback to Sahara Group chief Subrata Roy, the Supreme Court today ordered the attachment of the company’s prime Amby Valley property in Pune, It is approximately worth Rs 39,000 crore.A special bench headed by justice Dipak Misra said the drastic step was needed to force Sahara and Roy to expedite the payment of balance Rs 14,779 crore.The …

SC tells Sahara's Subrata Roy to deposit Rs 600 cr by Feb 6 to avoid imprisonment
8 years, 4 months ago

SC tells Sahara's Subrata Roy to deposit Rs 600 cr by Feb 6 to avoid imprisonment

Firstpost  

The bench, initially, asked senior advocate Kapil Sibal, representing Roy, to deposit Rs 1,000 crore with market regulator Sebi in two months or it will appoint a receiver, but later reduced the money to be deposited to Rs 600 crore New Delhi: The Supreme Court on Monday asked Sahara Group chief Subrata Roy to deposit Rs 600 crore more by …

Pay Rs 600 Cr By Feb 6 To Remain Out Of Jail: SC To Roy
8 years, 4 months ago

Pay Rs 600 Cr By Feb 6 To Remain Out Of Jail: SC To Roy

Live Law  

Sahara Group chief Subrata Roy was asked by the Supreme Court today to deposit Rs 600 crore more by February 6 next year in the SEBI-Sahara refund account to remain out of jailA special bench headed by Chief Justice T S Thakur significantly cautioned him that in case of failure, he would have to return to prison.“We are also considering …

Pay Rs 600 Cr By Feb 6 To Remain Out Of Jail: SC To Roy
8 years, 4 months ago

Pay Rs 600 Cr By Feb 6 To Remain Out Of Jail: SC To Roy

Live Law  

Sahara Group chief Subrata Roy was asked by the Supreme Court today to deposit Rs 600 crore more by February 6 next year in the SEBI-Sahara refund account to remain out of jailA special bench headed by Chief Justice T S Thakur significantly cautioned him that in case of failure, he would have to return to prison.“We are also considering …

Sahara Will Deposit Rs 12,000 Cr By Dec 2018: Roy To SC
8 years, 5 months ago

Sahara Will Deposit Rs 12,000 Cr By Dec 2018: Roy To SC

Live Law  

Fresh from a reprieve given by the Supreme Court, Sahara group chief Subrata Roy has told the Supreme Court that it was ready with a roadmap to deposit the remaining amount of Rs 12,000 crore in the SEBI-Sahara account by December 2018 to be refunded to the investors.“A road map has been shared with SEBI and amicus curiae Shekhar Naphade”, …

Sahara Will Deposit Rs 12,000 Cr By Dec 2018: Roy To SC
8 years, 5 months ago

Sahara Will Deposit Rs 12,000 Cr By Dec 2018: Roy To SC

Live Law  

Fresh from a reprieve given by the Supreme Court, Sahara group chief Subrata Roy has told the Supreme Court that it was ready with a roadmap to deposit the remaining amount of Rs 12,000 crore in the SEBI-Sahara account by December 2018 to be refunded to the investors.“A road map has been shared with SEBI and amicus curiae Shekhar Naphade”, …

SC extends Subrata Roy’s interim parole after Sahara Group deposits Rs 200 crore
8 years, 5 months ago

SC extends Subrata Roy’s interim parole after Sahara Group deposits Rs 200 crore

India TV News  

The Supreme Court today extended the interim parole of Subrata Roy till November 28 after Sahara Group deposited Rs.200 crore today and promised to deposit another Rs 200 crore by November end. Sikri had on September 28 asked the Sahara Group to deposit an amount of Rs 200 crore by October 24, as it extended its interim order releasing Subrata …

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