The Supreme Court on Monday sought a response from the beleaguered Sahara Group as to why a Receiver be not appointed to dispose of their properties to arrange Rs 36,000 crore paying its investors even as an European corporate offered to lend USD five billion to bail out the group's jailed chief Subrata Roy.
Two private firms on Friday moved the Supreme Court expressing their willingness to buy Sahara Group's three overseas hotels, Grosvenor House Hotel in London, the New York Plaza and Dream New York hotels, which will help raise money for release of Subrata Roy from jail.
Slapped with a USD 350 million lawsuit seeking attachment of its two prized hotels here, crisis-ridden Sahara has told a US court here that it has been wrongly dragged into a dispute between two entities over "a potential business relationship gone sour".
The Supreme Court is likely to pronounce, on Friday, the verdict that will decide the fate of Sahara chief Subrata Roy and two group directors who are in jail since March 4 last year for not complying with the court's order to return investors' Rs 24,000 crores that two group companies SIRECL and SHFCL had collected in 2007-08.
In a dusty town on the edge of the Sahara Desert, migrants waiting to be whisked away towards a new life in North Africa or Europe cross paths with others who have returned destitute and devoid of all illusions.
In a sandy compound in the Niger desert town of Agadez, a white-turbaned imam blesses a circle of African migrants, some of them little more than boys, to protect them on the journey across the Sahara toward Europe.
A Delhi court on Tuesday issued warrant for the appearance of Sahara Chief Subrata Roy, now lodged in Tihar Jail, in an Income Tax case in which he has been accused of not filing returns for a group company for the 2013-14 assessment year.