Sahara's Grosvenor House put on sale; may fetch Rs 5,000 cr
In a fresh twist to crisis-hit Sahara Group's efforts to raise funds, its iconic hotel property Grosvenor House, estimated to be worth over Rs 5,000 crore, has been put on sale by lenders.
Mar 03, 2015, 17:44 PM IST
Sahara employees face salary delays on liquidity crunch
Sahara's long-drawn dispute with regulator Sebi over investor repayments has begun to take its toll on salaries of the group's employees, which are getting delayed amid a major liquidity crunch.
Feb 27, 2015, 12:29 PM IST
Sahara lands in another trouble, SC fiat on diversion of funds
Facing tough times in its attempt to get its Chief Subrata Roy out of jail, Sahara Group on Tuesday landed in a soup again as the Supreme Court asked it to explain how it encashed securities, deposited with RBI, and diverted them to pay depositors to the tune of Rs 484 crore without the court's nod.
Feb 24, 2015, 19:32 PM IST
Roy fails to get early hearing on special facilities
Sahara Group's lawyer Keshav Mohan, said the application is now listed for hearing on Tuesday.
Feb 20, 2015, 20:07 PM IST
US authorities probe alleged forged letter from Mirach in Sahara deal
Sahara had sought to borrow more than $1 billion from Mirach to help bail its chairman, Subrata Roy, out of jail in New Delhi.
Feb 19, 2015, 08:55 AM IST
Sahara moves SC for extension of facilities to Subrata Roy in jail
Supreme Court on Tuesday expressed concern over how Sahara Group would raise money to secure its chief Subrata Roy's release, as the group sought extension of facilities inside Tihar jail premises by four to six weeks to enable him negotiate deals with prospective buyers.
Feb 17, 2015, 14:11 PM IST
Sahara moves SC for extension of facilities by 6 weeks to Subrata Roy
Sahara Group on Tuesday moved the Supreme Court seeking extension of facilities by six weeks given to its jailed chief Subrata Roy for striking deals with various persons.
Feb 17, 2015, 11:21 AM IST
SEBI-Sahara row: RBI moves SC to stop SIFCL from selling assets
In a fresh turn of events in the Sahara case, RBI Friday moved the Supreme Court seeking to implead itself as a party in the company's tussle with SEBI and sought to stop one of its firms from disposing off assets for securing the release of its chief Subrata Roy.
Feb 13, 2015, 20:48 PM IST
Sahara says taking legal action against Mirach after deal collapse
The talks involved a loan by Mirach secured against some of Sahara`s properties including New York`s Plaza hotel, but they collapsed acrimoniously.
Feb 13, 2015, 15:40 PM IST
Preparing legal action against Sahara: Mirach
The Subrata Roy-led Sahara group has accused Mirach of "cheating and forgery" in the failed USD 2.05 billion loan arrangement and said it has initiated legal action against the US-based firm.
Feb 13, 2015, 09:05 AM IST
Mirach fiasco: Sahara initiates legal action; eyes new deal
Accusing Mirach Capital of "cheating and forgery" in the failed USD 2.05 billion loan arrangement, Sahara today said it has initiated legal action against the US-based firm and it is now working on a new deal to raise funds to secure bail for its chief Subrata Roy.
Feb 12, 2015, 18:40 PM IST
Supreme Court asks Sahara to submit fresh fundraising plans
SC has asked conglomerate Sahara to submit a fresh plan for raising funds against its properties after the collapse of negotiations with a U.S.-based firm last week.
Feb 11, 2015, 17:17 PM IST
Mirach asks Supreme Court to let it buy Sahara assets
US-based Mirach Capital Group claims to have returned USD 2.625 million to Sahara Group and asked the Supreme Court to intervene and allow a sale of its assets to its "ready, willing, and able investors."
Feb 11, 2015, 12:35 PM IST
Mirach calls off Sahara loan deal, returns fees
The Court had given time till February 20 for the deal, but it fell apart after Bank of America disclosed that it was not involved in the deal as was being claimed.
Feb 11, 2015, 10:57 AM IST
Sahara saga: Mirach says 3 hotels can fetch maximum $1.67 billion
As the blame-game continues over their floundered deal, US-based Mirach Capital has claimed that Sahara's three overseas hotels can fetch a maximum valuation of USD 1.67 billion (Rs 10,400 crore).
Feb 08, 2015, 14:32 PM IST
Tender apology or pay compensation: Mirach warns Sahara
In a fresh twist to the alleged "forgery" saga, US-based Mirach on Saturday asked Sahara to make a "formal apology" for tarnishing its image, failing which it warned of legal action and demanded over USD 13 million in compensation for breach of contract.
Feb 07, 2015, 15:37 PM IST
Mirach hits back at Sahara; offers to buy out overseas hotels
Mirach further accused Sahara of repeatedly undermining a transaction for sale of its properties and said it "wasted" the time of its investors as also that of Sebi and the courts.
Feb 06, 2015, 10:06 AM IST
Mirach gave forged BofA letter, to take legal action: Sahara
Stung by a "forged letter" claiming USD 2-billion funding through Bank of America, crisis-hit Sahara group today said it has been "cheated" by US-based Mirach Capital and would take all suitable legal action against the firm and its officers.
Feb 05, 2015, 23:58 PM IST
Mysterious turn to Sahara's $2-billion deal; BofA says not a banker
Crisis-ridden Saharas' efforts to raise funds to secure bail for its chief Subrata Roy have taken a mysterious turn, with Bank of America refuting claims of it being the banker for a USD 2-billion financing package offered to the group by a US-based entity.
Feb 05, 2015, 14:19 PM IST
Subrata Roy's get-out-of-jail deal is mired in mystery
Subrata Roy, the boss of the Sahara conglomerate, is in a New Delhi prison on contempt-of-court charges and needs to post $1.6 billion in bail to get out. To help raise the money, Sahara is in talks to refinance its overseas hotels, including New York`s Plaza.
Feb 05, 2015, 08:56 AM IST
