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SC Gives Sahara 90 Days, Endgame In Sight

PUBLISHED BY: SURENDER KUMAR
MARCH 23, 2015

   
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SC Gives Sahara 90 Days, Endgame In Sight

 SC Gives Sahara 90 Days, Endgame In Sight


The Supreme Court
has given the Sahara group 90 days to submit its final proposal on raising the funds to repay its investors' money. The court has allowed it to sell part of its Aamby Valley township near Mumbai to raise the funds. Besides, it also gave permission to US-based investor Mirach to file a formal plea to buy Sahara overseas hotels.

 

Sahara chief Subrata Roy and two other directors Ravi Shankar Dubey and Ashok Roy Choudhary are currently in custody for the failure of group companies to comply with the apex court's orders on returning the investors' money which was estimated at Rs 24,000 crore in 2012. The amount has increased substantially on account of the interest component.

 



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