More than 250 Expressions of Interest were received for sale of the 30 domestic properties across India for the auction.
The Supreme Court today extended till June 19 the parole of Sahara chief Subrata Roy with a warning that failure to meet the deadline of June 15 for the payment of Rs 1,500 crore would land him in prison once again.
The Income Tax department has issued a Rs 24,646 crore tax demand notice to Sahara Group's Aamby Valley Limited (AVL) after conducting a special audit of the company.
In an earlier hearing on the dispute between Sahara chief Subrata Roy and Securities and Exchange Board of India (Sebi) over the non-payment of money to millions of investors, the Supreme Court had warned Sahara that if the company failed to deposit Rs 5,000 crore, the court would auction the Aamby Valley property.
The Supreme Court, on February 6, 2017, directed attachment of the Sahara Group’s Aamby Valley property in Pune, for realisation of money to be paid to its investors. The apex court also asked the R
The Securities and Exchange Board of India is finding it hard to sell the properties of Sahara India Pariwar because of issues with the title deeds.
SEBI has deployed constables to keep tabs on Sahara chief Subrata Roy, who owes the country's market regulator Rs 12,000 crore.
Keeping up the heat on the charges of "personal corruption" by Prime Minister Narendra Modi, Congress has demanded the Income Tax Department challenge the Settlement Commission's "unprecedented" order in the so-called Sahara diaries case.
Toeing the party line, Sheila Dikshit today targeted Prime Minister Narendra Modi wondering why he was shying away from an independent probe into the 'Sahara-Birla' papers relating to alleged pay-offs, days after her comments questioning autheticity of the documents put Congress on the backfoot.
The Supreme Court today asked Sahara Group chief Subrata Roy to deposit Rs 600 crore more by February 6 next year in the SEBI-Sahara refund account to remain out of jail and cautioned him that in case of failure, he would have to return to prison.
Earlier, 13 properties were put on the block in October and their combined reserve price was about Rs 1,400 crore.
Embattled Sahara Group on Friday told the Supreme Court 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.
Sahara Group on Thursday told the Supreme Court that it would deposit Rs 200 crore with market regulator SEBI in pursuance of an earlier apex court direction and sought advancement of the hearing in the case.
Taking its experience in selling properties of Sahara and PACL for Sebi a step further, real estate advisory firm HDFC Realty is considering helping banks sell properties of defaulters and recover loans.
India's Supreme Court extended embattled Sahara conglomerate chief Subrata Roy's parole by a week on Friday, temporarily staying an order it had issued just hours before that he be taken back into custody.
Sahara's lawyer Keshav Mohan said that a draft of Rs 353 crore has been deposited in the SEBI-Sahara account.
On August 3, the Supreme Court had extended the parole of Roy till September 16 with a condition that he has to deposit Rs 300 crore with SEBI.
Embattled Sahara group today said there is a "devious attempt" to lower the price for its marquee hotels and disturb the sentiment of potential bidders, amid reports that a bidder has reduced the offer price for the properties.
Hitting back at SEBI, embattled Sahara group today said issuance of advertisements would not help the regulator reach out to the investors spread across remote parts of the country and offered its help in verifying 95 percent bondholders it claims to have already refunded.
CNBC-TV18‘s Ashmit Kumar reports that Kapil Sibal, who is representing Sahara in the apex court confirmed that the company is in final stages of negotiation with QIA and the SC has extended the parole for Subrata Roy till August 3.
In its application Sahara informed the Supreme Court that it is in advanced stages of negotiations with Qatar Investment Authority, the Qatar-based sovereign wealth fund, for sale of its three premium hotels. Sahara's three prized jewels include - the Grosvenor House in London and the Dream Downtown and New York Plaza in New York.
Vijay Mallya has set foot in the Formula One paddock for the first time this season but attending races outside Britain, let alone returning to India, remains a step too far for the exiled tycoon
CNBC-TV18 has learnt from sources that Qatar Investment Authority has agreed to buy Sahara's stake in its 3 overseas hotels - Grosvenor House (London), New York Plaza and Dream Downtown (NY) for USD 1.6 billion.
The auction would be conducted by SBI Capital Markets and HDFC Realty, which have been tasked to auction a total of 61 land parcels, on July 13 and July 15 respectively.
Tasked by markets regulator SEBI to sell land parcels of Sahara, HDFC Realty and SBI Capital Markets will e-auction a total of 10 properties owned by the beleaguered group at a reserve price of nearly Rs 1,200 crore