Sahara Raising Funds, Rekindling Hopes for Subroto Roy’s Release?
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The flamboyant chief of Sahara, Subarta Roy, who is currently behind the bars, may soon breathe a sigh of relief. A media report suggests the
As per the report, the two funds would become financiers for over $ 1 billion (Rs 6,000 crore) of debt against the three overseas hotels of the group, which includes the iconic Grosvenor House in London and two hotels in New York (the Plaza and Dream Downtown).
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The 66-year-old businessman was jailed in March amid a long-running dispute of Sahara group with the capital markets regulator
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In August, Roy was allowed to stay in and use the conference room of Delhi’s Tihar Jail in a bid to negotiate the sale of his properties. However, he could not seal a deal within the deadline given by the honourable Supreme Court.
So far, Sahara has raised Rs 3,117 crore, which has been deposited with the capital markets regulator SEBI.
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