President Donald Trump to its luxury property portfolio. The Supreme Court today told the unlisted Sahara conglomerate that it can sell one of the premium properties it owns to furnish the Rs 10, crore that is needed to pay bail for its jailed chief, Subrata Roy. Sahara said it is willing to sell hotels located in New York and London to raise the amount needed to secure the release of its chairman, who was arrested in February Subrata Roy to sleep on floor at Tihar, eat jail food.
Sahara chief Subrata Roy, who was sent in judicial custody for a week in Delhi by the Supreme Court today, will be kept in high-security Tihar prison where he will sleep on the floor and eat jail food like an ordinary prisoner. N Srinivasan has a lot of egos: Subrata Roy. Srinivasan took over. A major business conglomerate and the prime promoter and patron of sports in India, Sahara's Lucknow franchisee will be one of the six teams to be competing in the championship. The company has also been faulted for its lack of transparency on terms, source, and use of its funds, especially given that it works with new investors who may be unfamiliar with OFCDs.
SEBI has directed Sahara to refund all money collected in this scheme with 15 percent annual interest, along with all documents including subscriber application forms, to SEBI, who is then responsible for the transferring of the refund and interest to investors. The Supreme Court of India has upheld this ruling. However, the regulators and government authorities did not take action on Sahara until well after it became a huge mammoth that posed a potential threat to the economy.
Investor education — ensuring that these new investors understand their investments — is another crucial aspect, which must be maintained while pursuing growth of banking services to the last corner of the country. While Sahara created a compelling model — leveraging a strong brand, creating an effective network of agents, providing convenience, and accepting small investments — any player in the microfinance space should ensure active compliance with all regulatory authorities and an appropriate level of transparency.
Sahara stands as a cautionary tale that demonstrates both the potential of rural unbanked communities, and the pitfalls.
For more information on Financial Inclusion , sign up for project updates. Hemang Mandalia has worked with Credit Suisse since early developing algorithmic trading systems, and also working in quantitative research. ET Engage. ET Secure IT. South Africa seizes USD 1. Attorney General flags concern before Supreme Court over media comments in pending cases The AG, who had urged another top court bench, led by former SC judge Arun Mishra in an earlier case, to let off Bhushan in another contempt case over two of his tweets on the social media, took a different stand on the issue on Tuesday by turning his attention to the media trial of the accused in the pending cases.
All News Videos Photos. Sahara says Rs 3, crore paid to over 10 lakh cooperative society members in 75 days The group said there has been some delay in payments, primarily due to an embargo imposed for last eight years by the Supreme Court, while approximately Rs 22, crore of its funds, including interest amount, are deposited in the Sahara-Sebi account, which was created to refund bondholders of two group firms.
Netflix opposes Mehul Choksi's appeal seeking preview of 'Bad Boy Billionaires' The video-streaming company said that Choksi was fully aware of the series. Hyderabad court restrains release of Netflix's 'Bad Boy Billionaires', says Ramalinga Raju will suffer irreparable loss of reputation The series was slated for release on September 2. Netflix India puts 'Bad Boy Billionaires' on hold following Bihar court order Last week, the Araria district court in Bihar ordered a stay on the release of the docu-series.
Sahara Group says no layoffs; gives salary hikes, promotions to employees despite COVID pressure Based on productivity, the company said it has given one cadre promotion to its 4,05, field workers. All problems to be resolved in ; two foreign investors roped in for realty, city development biz: Sahara chief In a letter to investors on the occasion of the group's 42nd Foundation Day, celebrated on February 1, Roy said the group always kept intact its tradition of timely payments and excellence in services but there has been delay in payments during the last seven years at certain places due to "some undesirable circumstances".
SEBI-Sahara case: Supreme Court exempts Sahara group chief Subrata Roy from personal appearance Roy was sent to the Tihar Jail by the apex court on March 4, and came out on parole after spending over two years in prison on May 6, to perform the last rites of his mother Chhabi Roy. Credit goes to Mukherjee, Chidambaram and Jaitley for strong action against Sahara, says former Sebi chief U K Sinha Sinha also praised former Prime Minister Manmohan Singh for his sound advice on how to balance the multiple roles of Sebi, and applauded current Prime Minister Narendra Modi for being a "very inquisitive" leader and always being firm in his belief that no person big or small should be spared for any wrongdoing.
Kingfisher fails to pay employee income tax. Friday, 24 June, Central banks. Indian groups double overseas investments.
Wednesday, 5 January, Thursday, 30 December, Indian group buys Grosvenor House. Friday, 15 October, Sahara tipped to buy Grosvenor House. Monday, 20 September, Middle East protests. Mumbai shines as foreigners buy in. FT Alphaville Joseph Cotterill. Indian conglomerate circles MGM. Tuesday, 10 August,
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