December 22, 2025 01:09 am (IST)
Follow us:
SC asks Sahara Group to submit fresh fundraising plans
New Delhi, Feb 11 (IBNS): The Supreme Court of India on Wednesday asked Sahara Group to submit a fresh plan for raising funds against its properties after the US-based Mirach Capital called off its $2 billion loan deal with the group, which would have helped it on raising the money and get its chief Subrata Roy out of jail.
Sahara is struggling hard to raise money to get its chief Subrata Roy bailed. Roy is in Tihar Jail since early last year after his arrest for allegedly defrauding investors of over Rs 200 billion.
The apex court has also criticised the Sahara group for the delay in sale of overseas properties.
Sahara was ealier allowed by the SC to sell its overseas properties in order to enable the group to pay around Rs 26,000 crore related to refund of its investors.
The top court now wants an asset management agency to handle the sale of its overseas properties, reports said.
Sahara and Mirach Capital have now indulged in a war of words and have accused one another for scuttling the deal.
While Sahara has accused Mirach of forging bank letters, the US company said that the former is deliberately scuttling the deal.
Lawyers of the Sahara group have told the court that the company is a victim and it has filed an FIR.
Sahara will file an affidavit about all facts, its lawyers told the court.
The top court asked Sahara to file its affidavit and then it will take up the case for hearing.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Netherlands teams up with India to bring Gujarat’s National Maritime Heritage Complex to life
Sun, Dec 21 2025
'Sing Secular or Else’: Lagnajita concert clash adds to growing attacks on Hindu expression in Bengal
Sun, Dec 21 2025
Obesity cannot be treated with shortcuts: Jitendra Singh
Sun, Dec 21 2025
Bengali singer Lagnajita Chakraborty alleges abuse, assault bid on stage, police arrest accused
Sun, Dec 21 2025
Telangana to bring Karnataka-style hate speech law amid rising debate on communal rhetoric
Sat, Dec 20 2025