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 seen by Bloomberg. India’s Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion. Roy’s case, which featured in Netflix series Bad Boy Billionaires, is among stories of fallen business tycoons in Asia’s third-largest economy and India’s efforts to go after the rich and famous who failed to pay their dues.

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History of this topic

"Kejriwal did not act on complaint...air hostesses used to come to Subrata Roy, there were whiskey bottles...": Former Tihar Jail PRO
1 month ago

"Kejriwal did not act on complaint...air hostesses used to come to Subrata Roy, there were whiskey bottles...": Former Tihar Jail PRO

Op India  

AAP leader and former Delhi Chief Minister Arvind Kejriwal “did not take action, delayed or resorted to compromise” over complaints about “illegal things happening” while Sahara Group founder Subrata Roy was imprisoned in Tihar Jail, a former jail official has alleged and said that air hostesses of Sahara Airlines “used to come to Roy and remain with him for hours”. …

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

SEBI suspends trading of Bharat Global Developers over financial misrepresentation
3 months ago

SEBI suspends trading of Bharat Global Developers over financial misrepresentation

Deccan Chronicle  

New Delhi: Markets regulator Sebi on Monday suspended trading in Bharat Global Developers Ltd for financial misrepresentation, misleading disclosures, price manipulation, and offloading shares at inflated prices. In fact, such wealth has arisen from misrepresentation of the company's business and financials to general investors and shareholders," Sebi Whole Time Member Ashwani Bhatia said in his 25-page order. Accordingly, Sebi in …

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case
4 months, 2 weeks ago

SC dismisses Sebi’s ₹25 crore penalty plea against Mukesh Ambani in RPL share manipulation case

Live Mint  

The Supreme Court on Monday dismissed a plea by the Securities and Exchange Board of India to impose a ₹25 crore penalty on Mukesh Ambani, chairman and managing director of Reliance Industries Ltd, over alleged share manipulation involving Reliance Petroleum Ltd in November 2007. A two-judge bench of Justices J.B. Pardiwala and R. Mahadevan agreed to hear Sebi's broader case …

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 …

SEBI slaps ₹63 crore fine on Rana Sugars
6 months, 4 weeks ago

SEBI slaps ₹63 crore fine on Rana Sugars

Hindustan Times  

The Securities and Exchange Board of India has imposed a penalty of ₹63 crore on Rana Sugar Limited on the alleged charges of diversion of funds to its conduit and individual entities. In detailed orders, which included the operations details of the investigation into the transactions made by the RSL to its alleged conduit entities, SEBI investigation into the matter …

Sebi bans Anil Ambani and 24 others from market for five years, slaps Rs 254 crore fine
7 months ago

Sebi bans Anil Ambani and 24 others from market for five years, slaps Rs 254 crore fine

New Indian Express  

MUMBAI: The markets watchdog Securities and Exchange Board has banned Anil Ambani and 24 others, including former key officials of Reliance Home Finance, from the securities market for five years charging them with fund diversion by creating a “fraudulent scheme to siphon off money from the company by structuring it as loans to credit-unworthy borrowers.” The Rs 104 crore cumulative …

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB
8 months, 1 week ago

Dilip Khedkar disproportionate assets case: Complainant submits 2,000-page evidence to ACB

Hindustan Times  

Advocate Tanaji Gambhire, complainant in a disproportionate assets case related to Dilip Khedkar, father of IAS probationer Puja Khedkar, has submitted over 2,000 pages of evidence to the Anti-Corruption Bureau Pune division. Authorities had issued a suspension order to Dilip on February 24, 2020, after a departmental inquiry found that he threatened 300-400 small businessmen for extortion while posted in …

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'
10 months, 1 week ago

The Subrata Roy Saga: Sahara Group Calls Hansal Mehta's Series 'Abusive, Condemnable'

News 18  

Sahara Group has criticised the upcoming series titled “Scam 2010 – The Subrata Roy Saga”, calling it an “abusive and grossly condemnable act” and said it is contemplating “suitable legal action” against the makers. In a statement, Sahara India said the “aggrieved members” are seeking advice to take “suitable legal action against the producer, director and all those who are …

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case
1 year, 3 months ago

Sebi orders Raju and others to pay back Rs 1,747 crore in Satyam case

Deccan Chronicle  

Hyderabad: Markets regulator Sebi has ordered former chairman of Satyam Computers Services B. Ramalinga Raju and five others to pay back Rs 624 crore of unlawful gains that were made in stock sale along with an interest of 12 per cent. Apart from Ramalinga Raju, others named in the order include his brothers B Rama Raju and B Suryanrayana Raju, …

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 …

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why
1 year, 7 months ago

SEBI bars Brightcom’s top officials from holding directorial posts; here’s why

Live Mint  

Capital markets regulator Securities and Exchange Board of India said in an interim order on Tuesday, August 22, that it has found lapses in Brightcom Group Limited preferential issue of shares. SEBI has barred Suresh Kumar Reddy - the promoter-cum-chairman and managing director of Brightcom Group, along with chief financial officer Narayan Raju from holding directorial posts until further notice. …

Supreme Court Allows Disbursal Of Rs 5000 Crores From SEBI-Sahara Fund To Depositors; Former SC Judge To Monitor Disbursals
1 year, 11 months 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 …

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 …

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 …

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks
2 years, 4 months ago

Supreme Court To Hear SEBI's Challenge Against SAT Order Granting Relief To NDTV Promoters Prannoy Roy & Radhika Roy After Two Weeks

Live Law  

The Supreme Court on Monday adjourned the hearing of the Securities and Exchange Board of India's challenge against the Securities Appellate Tribunal's order that reduced penalties imposed on NDTV promoters Prannoy Roy, Radhika Roy for allegedly concealing price sensitive information from shareholders. On July 20, the SAT at Mumbai had set aside the findings of the SEBI which held the …

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 …

Sebi penalises Aadhaar Ventures, its directors for flouting market norms
2 years, 6 months ago

Sebi penalises Aadhaar Ventures, its directors for flouting market norms

Live Mint  

Sebi on Monday levied fines on Aadhaar Ventures India Ltd and its directors for violating insider trading rules and listing conditions. Sebi imposed a fine of ₹10 lakh on Aadhaar Ventures India Ltd, its directors -- Jils Raichand Madan, Somabhai Sunderbhai Meena and Jyoti Munver for disclosure lapses. Sebi conducted an early investigation for alleged price manipulation in the scrip …

SEBI slaps ₹1.6 cr penalty on Kotak AMC chief, 6 others for flouting MF rules
2 years, 8 months ago

SEBI slaps ₹1.6 cr penalty on Kotak AMC chief, 6 others for flouting MF rules

Live Mint  

Capital markets regulator Sebi on Thursday slapped penalties totaling ₹1.6 crore on seven entities, including Kotak Mahindra Trustee Company and Managing Director of Kotak AMC Nilesh Shah, for flouting rules pertaining to mutual funds while investing in Essel Group companies. Others penalised by Sebi are Kotak AMC's fund managers -- Lakshmi Iyer, Deepak Agarwal, Abhishek Bisen -- Compliance Officer Jolly …

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal
4 years, 2 months ago

Appeal Against SEBI Order- NDTV Promoters To Deposit 50% Of The Amount To SEBI Within 4 Weeks: Securities Appellate Tribunal

Live Law  

A bench of the Securities Appellate Tribunal, Mumbai comprising of Justice Tarun Agarwala, Dr. CKG Nair and Justice MT Joshi in two similar orders directed the two NDTV promoters, Prannoy Roy and Radhika Roy to deposit 50% of the disgorged amount before the Securities Exchange Board of India within four weeks. The SAT was hearing two appeals preferred by the …

RPL case: Sebi slaps fine on Reliance, Ambani
4 years, 2 months ago

RPL case: Sebi slaps fine on Reliance, Ambani

Live Mint  

India’s markets regulator on Friday fined Reliance Industries Ltd and its chairman and managing director Mukesh Ambani a total of ₹40 crore for alleged manipulation in the trading of Reliance Petroleum Ltd’s securities. According to Sebi’s order, RIL executed a well-planned operation with its agents to make undue gains from the trading of its erstwhile listed unit, RPL which was …

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 caps fees for investment advisers
5 years, 1 month ago

SEBI caps fees for investment advisers

The Hindu  

The Securities and Exchange Board of India has amended the regulatory framework for investment advisers to introduce a cap on the maximum fee such entities can charge to investors while segregating the advisory and distribution activities to minimise conflict of interest issues. 2.5% of assets The board of the capital markets watchdog, which met in Mumbai, approved the amendment in …

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 imposes Rs 12 lakh fine on ICICI Bank, compliance officer for disclosure lapses
5 years, 6 months ago

Sebi imposes Rs 12 lakh fine on ICICI Bank, compliance officer for disclosure lapses

India TV News  

Capital markets regulator Sebi on Thursday levied a total fine of Rs 12 lakh on ICICI Bank Ltd and its compliance officer Sandeep Batra for disclosure lapses, including delayed disclosure of binding agreement signed with Bank of Rajasthan. The probe revealed that ICICI Bank failed to disclose the information regarding signing of the binding agreement to the stock exchanges in …

Sebi slaps Rs 15 lakh fine on Kelvin Fincap for flouting market norms
5 years, 8 months ago

Sebi slaps Rs 15 lakh fine on Kelvin Fincap for flouting market norms

India TV News  

Markets regulator Sebi has slapped a fine of Rs 15 lakh on Kelvin Fincap Ltd for failing to notify change in its directorate to BSE and making wrong disclosures regarding preferential allotment. The regulator conducted an investigation into the scrip of Kelvin Fincap between November 2011 and May 2014 and found that the firm had not made prompt disclosure to …

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals
5 years, 9 months ago

Fraudulent trade: Sebi imposes Rs 10 lakh fine on four individuals

India TV News  

Markets regulator Sebi Monday imposed a total fine of Rs 10 lakh on four individuals for manipulating the share price of Shree Shaleen Textiles Ltd. Anjana Arun Karwa, Jayeshkumar Narottamdas Gandhi, Bharati Jayesh Gandhi, Deval Jayesh Gandhi are the four facing the penalty, as per Sebi's separate orders. The regulator had conducted probe from March 2012 to March 2013 relating …

SC Directs Sahara Chief Subrata Roy To Appear Before It On Feb 28
6 years, 1 month ago

SC Directs Sahara Chief Subrata Roy To Appear Before It On Feb 28

Live Law  

The Supreme Court Thursday directed Sahara group chief Subrata Roy to appear before it on February 28 for failing to deposit Rs 25,700 crore in the SEBI-Sahara case for returning investors' money.The apex court said six months were given to Sahara by its last order to arrange the amount but what has transpired during the period has not inspired the …

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 …

Sebi slaps ₹70 lakh fine on Regency Hospital, directors
6 years, 6 months ago

Sebi slaps ₹70 lakh fine on Regency Hospital, directors

Live Mint  

New Delhi: Sebi has slapped a total penalty of ₹ 70 lakh on Uttar Pradesh-based Regency Hospital as well as its two promoters for fraudulent trading in the company’s shares. In two separate orders issued on Friday, Sebi imposed fine of ₹ 15 lakh on Regency Hospital, and ₹ 25 lakh each on Managing Director Atul Kapoor and Whole Time …

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 …

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 …

Pay Rs 1,500 Crore To Establish Your Bonafide : SC To Roy
7 years, 8 months ago

Pay Rs 1,500 Crore To Establish Your Bonafide : SC To Roy

Live Law  

In a relief to Sahara group chief Subrata Roy, the Supreme Court extended his parole till October 10 after he deposited Rs 247 crore against the promised Rs 552.21 crore which was to be deposited by July 15.A three-judge bench of justices Dipak Misra, Ranjan Gogoi and A K Sikri directed Roy to deposit Rs 1,500 crore in the SEBI-Sahara …

Pay Rs 1,500 Crore To Establish Your Bonafide : SC To Roy
7 years, 8 months ago

Pay Rs 1,500 Crore To Establish Your Bonafide : SC To Roy

Live Law  

In a relief to Sahara group chief Subrata Roy, the Supreme Court extended his parole till October 10 after he deposited Rs 247 crore against the promised Rs 552.21 crore which was to be deposited by July 15.A three-judge bench of justices Dipak Misra, Ranjan Gogoi and A K Sikri directed Roy to deposit Rs 1,500 crore in the SEBI-Sahara …

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 …

SEBI Court Rejects Subrata Roy’s Application For Exemption As He Fails To Appear Again
7 years, 10 months ago

SEBI Court Rejects Subrata Roy’s Application For Exemption As He Fails To Appear Again

Live Law  

Sahara Group Founder Subrata Roy failed to appear before the Special SEBI Court in Mumbai on Thursday citing health reasons.Roy’s advocate, Ashok Saraogi submitted a medical certificate stating that Roy is suffering from gastroenteritis.An application seeking Roy’s exemption from appearing personally for the hearing was also filed. Sahara Group Founder Subrata Roy failed to appear before the Special SEBI Court …

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 …

Sebi bars Vijay Mallya from trading in securities market, co-directorship
8 years, 2 months ago

Sebi bars Vijay Mallya from trading in securities market, co-directorship

Firstpost  

The markets regulator also said the “aspect of change in control of USL” that followed the agreement between Diageo and Mallya is being examined separately. Cracking the whip, regulator Sebi Wednesday barred beleaguered businessman Vijay Mallya and six others from the securities market in a case related to alleged fund diversions from United Spirits Ltd. Besides, Mallya and former United …

Pay Rs 600 cr before Feb 6 or go back to jail, SC tells Sahara chief Subrata Roy
8 years, 2 months ago

Pay Rs 600 cr before Feb 6 or go back to jail, SC tells Sahara chief Subrata Roy

India TV News  

The Supreme Court on Thursday directed Sahara Group chief Subrata Roy to deposit Rs 600 crore before the Securities and Exchange Board of India by February 6 or go to jail. The court said “too much indulgence has already been given to Sahara which is more than any other litigant.” Subrata Roy’s interim parole was extended on November 28 till …

SC tells Sahara's Subrata Roy to deposit Rs 600 cr by Feb 6 to avoid imprisonment
8 years, 3 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 …

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