September 24, 2026 11:10 pm (IST)
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SC allows Sahara to sell more property to raise money
New Delhi, Mar 23(IBNS) The Supreme Court on Monday gave Subrata Roy's Sahara a final chance to raise Rs 10,000 crore by selling or mortgaging it assets to evade a receiver to sell off the property.
The apex court has given Sahara a 90-day deadline to submit a final proposal for raising cash.
The next hearing will be held on August 1.
The court says if Sahara fails to raise the cash "it will be left with no option but to appoint a receiver for selling your properties".
The Supreme Court has also allowed Roy to use a high-tech office in Tihar jail premises for negotiations and wrapping up a deal.
Sahara has also been allowed to sell 10 more properties across India to raise more money .
The Sahara chief has been in jail for more than a year for failing to refund billions of dollars to investors in a bond programme.
His company has made several, failed attempts to raise the money to free him on bail.
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