March 27, 2026 05:40 pm (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
‘Feeling blessed’: PM Modi attends Surya Tilak ceremony at Ayodhya Ram Temple virtually
Fri, Mar 27 2026
'Married man's consensual live-in relationship with an adult woman not a crime': Allahabad High Court
Fri, Mar 27 2026
‘No lockdown’: Union Minister Hardeep Singh Puri dismisses rumours, assures preparedness amid West Asia tensions
Fri, Mar 27 2026
Indian among 2 killed as missile debris rains down after mid-air interception in Abu Dhabi
Thu, Mar 26 2026
India assures stable energy supplies with 60-day fuel stock despite West Asia crisis
Thu, Mar 26 2026
PM Modi to chair meeting with CMs tomorrow amid West Asia conflict
Thu, Mar 26 2026
'India not a dalaal nation': Jaishankar at all-party meeting on concerns over Pakistan's mediator role in West Asia conflict
Thu, Mar 26 2026
Iran allows India, four other ‘friendly nations’ access to Strait of Hormuz amid West Asia conflict
Thu, Mar 26 2026
13 killed as bus, lorry collide and catch fire in Andhra Pradesh
Thu, Mar 26 2026