Sahara lacks money to get Subrata bail, but can bid for London’s Grosvenor House hotel! Ridiculous, did we hear anyone say
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Sahara chief The debt ridden
Sources have informed the ET, Sahara Group, via its subsidiary
The sources have also confirmed that the bids received so far are in the range of £600-625 million (up to nearly Rs 6,150 crore.
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When Sahara ran into trouble with India's capital markets regulator,
An email sent to Sahara by the financial daily did not elicit any response. JLL said it did not have any comments to offer at this time. A legal expert involved with the current transaction said that though Sahara has emerged as one of the bidders for the property, BOC officials are still trying to figure out whether the authorities in India could create any legal problems if Sahara were to be awarded the deal.
Sahara's ability to raise money for the deal is also being doubted, according to people involved in the negotiations, especially since the group is relying on backing by other financiers.
Subrata Roy, founder and
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(Image : Reuters)
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