August 23, 2026 02:28 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
Amit Shah’s big Darjeeling move: Centre promises ‘Permanent Political Solution’ for West Bengal hills
Sat, Aug 22 2026
From promise to protest: Why Annapurna Bhandar has become a test for BJP govt in Bengal
Sat, Aug 22 2026
‘Modi Chalisa’ at Press Club of India sparks row: PCI distances itself from PM cutout worship event
Sat, Aug 22 2026
iPhone EMI pressure leads to tragedy: Indian teenager, parents die after falling from Maharashtra hill
Sat, Aug 22 2026
One BJP, two voices: Bengal Minister Swapan Dasgupta’s Jadavpur remark clashes with ‘surgical strike’ call
Sat, Aug 22 2026
Dalit woman 'gangrape-murder' shocker in Karnataka: 4 arrested after body found in well
Sat, Aug 22 2026
Cockroaches, flies, chemicals near food: Mumbai FDA suspends licences of top eateries, clubs
Fri, Aug 21 2026
India dismisses Pakistan's 'frustration' over US envoy's J&K remark
Fri, Aug 21 2026