Sahara Gets Three Months Time

Published on March 23, 2015 16:59:59 PM
The Supreme Court of India on Monday gave Subrat Roy led Sahara Groups three months’ time to submit the final proposal to raise funds of Rs 10,000 crore for paying back to its investors. The apex court also allowed Sahara to sell part of Aamby valley near Mumbai and 10 more properties to raise funds.

If Sahara fails in its last attempt, then Supreme Court will appoint a receiver for selling the properties to return the money of investors. Sahara Chief Subrat Roy has been in jail for more than an year, while the apex court has allowed him to use the high-tech office in Tihar jail premises for negotiations.