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Sahara Group News

19 Sep 2024

Refund Cap For Sahara Group Depositors Increased To Rs 50,000 From Rs 10,000

The government has so far released Rs 370 crore to more than 4.29 lakh depositors of Sahara Group of Cooperative Societies through the CRCS-Sahara refund portal.

11 Aug 2023

One Who Grew To Become One Of The Most Powerful Indians But EndedUp Losing All

The group encountered a regulatory barrier for the first time in 2008. The same year, Sahara Financial Corporation received a directive from the Reserve Bank of India (RBI) to stop accepting new deposits. It was a significant setback since it might have severely hampered the cash flow of other group companies that were having trouble turning a profit.

28 Mar 2023

Sebi Recovers Pending Dues Worth Rs 6.57 Crore from Sahara Group Firms

The recovery proceedings were initiated against these entities after they failed to pay the Rs 6 crore fine imposed on them by Sebi in June 2022.

26 May 2022

SC sets aside Delhi HC order staying SFIO probe into Sahara group

"High Court was not correct in staying the investigation at the interim stage. We allow the appeals and set aside the High Court order on stay," the Court said.

26 May 2022

SC sets aside HC order staying SFIO probe into 9 companies related to Sahara

A vacation bench of justices D Y Chandrachud and Bela M Trivedi allowed the appeal filed by the SFIO against the high court order.

31 Jan 2019

SC directs Sahara chief Subrata Roy to appear before it on February 28

Roy has failed to deposit Rs 25,700 crore in the SEBI-Sahara case for returning investors' money.

01 Dec 2018

Force India name disappears from F1

The team, who became Force India in 2008 after Indian beer baron Vijay Mallya bought Spyker F1, were taken over in August by Canadian billionaire Lawrence Stroll after going into administration.

12 Jul 2018

Sahara SEBI Case: Aamby Valley auction fails to get bids

Subrata Roy-led group managed to bail out of its elite ownership by informing the SC that two firms are willing to pay Rs 1,000 crore for its properties at Vasai in Mumbai.

19 Apr 2018

SC allows Sahara Group to sell properties in any parcel of Aamby Valley

The proceeds from the sale will have to be deposited in SEBI-Sahara refund account.

05 Jan 2018

Tough to maintain Sahara Group's Aamby Valley: Official receiver tells Supreme Court

Subrata Roy, who has spent almost two years in jail, has been on parole since May 6 last year.

23 Nov 2017

SC asks Bombay HC Receiver to auction Sahara's Aamby Valley

SC also directed the official liquidator, who has been entrusted with the task of conducting the auction, to take instructions from the company judge or the Bombay High Court.

Aamby Valley auctioning

12 Oct 2017

Hand over Aamby Valley to receiver within 48 hours: SC to Sahara

SEBI also said the letter was also sent to the additional chief secretary and no bidder was coming forward to bid for the property as the police, while taking note of the letter, has taken its custody.

Aamby valley auction

17 Sep 2017

Just two potential bidders for Rs 37k crore Aamby Valley auction

The auction process has been initiated even as a Mauritius-based investor, Royale Partners Investment Fund, has signed a pact with Sahara offering to invest USD 1.67 billion (over Rs 10,700 crore) in the Aamby Valley project.

11 Sep 2017

SC rejects Sahara's plea for lifting attachment, stopping auction of Aamby Valley

The Supreme Court on Monday rejected a plea by Sahara Group urging it to lift attachment of its Aamby Vally project and permit it to enter into agreement with Royal Partners Investment Fund for selling it 26 per cent stakes in it for $1.6 billion.

14 Aug 2017

Setback for Subrata Roy: Sahara's Aamby Valley up for auction at Rs 37,392 crore reserve price

The Official Liquidator (OL) for the Aamby Valley City in Lonavala has put up a reserve price of Rs 37,392 crore, as part of efforts to partially recover the pending dues to various lenders.

Sahara Mauritius fund

11 Aug 2017

Mauritius fund offers $1.67 billion fund for Sahara's Aamby Valley

The investment offer, proposed as a debt arrangement, comes at a time when the Supreme Court has ordered auction of the Aamby Valley resort town between Mumbai and Pune in Maharashtra. Sahara group pegs the market valuation of this project at over Rs 1 lakh crore.

30 Jul 2017

Sahara to challenge IRDAI order on life insurance biz transfer to ICICI Prudential

Embattled Sahara group on Sunday said it will approach court of law against IRDAI order directing transfer of its life insurance business to ICICI Prudential and alleged that the insurance regulator has "wrongly concluded" that the promoter was no more 'fit and proper' and a sum of Rs 78 crore was siphoned.

25 Jul 2017

SC asks Sahara chief to deposit Rs 1,500 crore by September 7

The Supreme Court on Tuesday directed Sahara group chief Subrata Roy to deposit Rs 1,500 crore in the SEBI-Sahara refund account by September seven.

20 Jul 2017

Supreme Court to hear Sahara-SEBI refund dispute on Thursday

In its previous hearing, the apex court gave 15-days time to Roy to deposit Rs. 552 crore in connection with the case.

ICICI Prudential Life

05 Jul 2017

ICICI Prudential keen to buy Sahara Life Insurance

ICICI Prudential Life has evinced interest to acquire troubled Sahara Group's life insurance arm Sahara Life, which has policyholder liability of Rs 900 crore.

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