MS Dhoni is the new Franchisee owners for Ranchi team of Hero Hockey India League alongwith Sahara India Pariwar

Names the team ‘Ranchi Rays’ Ranchi, 25 October 2014: Hockey India League today announced Captain of India Cricket Team, MS Dhoni in support of Sahara India Pariwar as the new franchisee owners for the Ranchi team. Coining the team Ranchi Rays, MS Dhoni was himself present for the announcement conference held in Ranchi today alongwith Mr. Abhijit Sarkar, Head-Corporate Communications, Sahara India Pariwar & Director - Sahara Adventures Sports Ltd and Dr. Narinder Batra, Chairman, Hockey India League. Speaking on the announcement Hero Hockey India League Chairman Dr. Narinder Batra said, “This is a great moment for Hockey India...

Read More

Sebi fails to find investors, Sahara case gets complicated

NEW DELHI: With Sebi failing to find the investors of two Sahara funds — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL) — the strange case against Sahara chief Subrata Roy and two Sahara directors has turned stranger. Sebi's case rests on its claim that Sahara has not refunded Rs 20,000 crore of investor money. And yet, despite advertisements in papers and other strenuous efforts, the market regulator has not been able to find investors of more than Rs 10 crore.  This can mean only one of two things — either bulk of the Sahara investors are fictitious entities or the claim of Sahara that it has already repaid 90% of investors of these two funds is true. If the Sahara investors are fictitious, Sebi doesn't really have a role as...

Read More

4,600 Sahara investors claim refund from Sebi

NEW DELHI: Around 4,600 investors in two Sahara group companies have come forward to claim refunds from the Securities and Exchange Board of India (Sebi), which had asked those who had purchased bonds issued by the entities to claim their money. Sources familiar with the development told TOI that the average claim is to the tune of Rs 20,000, resulting in a total demand of under Rs 10 crore. The low demand will bolster Sahara's argument before courts that it had repaid most of the investors who had come forward to claim the investment they had made in bonds issued by two group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL). In August, Sebi had asked investors to submit refund applications with documentary...

Read More

Legal debate over Subrata Roy's detention gathers pace

NEW DELHI: It's been over six months that Subrata Roy, the flamboyant chief of Sahara, has been in Delhi's Tihar jail. In the meantime, the hopes of his release have risen and ebbed. And as the days go by, it is becoming uncertain when he will be able to furnish Rs 10,000 crore to Sebi — a pre-condition set by the Supreme Court for his release.  Company sources say that it's not that the company doesn't have the money. The issue is Roy's current predicament. "The entire world knows that he's being forced to make distress sales to raise this amount and so he is getting badly discounted offers for his valuable overseas properties. Now, which businessman wants to sell his jewels at throwaway prices," said a company executive.  Roy's case — and along with him that of two other Sahara...

Read More