Markets: Eerie calm

Markets: Eerie calm

it is not clear when market sentiment can change; as in the past, it can be quite sudden.
At a turn and yet not

At a turn and yet not

RBI could be tempted to cut policy rate to support growth at its bi-monthly review.

Subrata Roy urges Supreme Court to show 'mercy' by granting interim bail

Jul 05 2014, 12:21 IST
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The Department informed the court that it had issued notice to 800 depositors but only 137 so far responded.  (Photo: AP) The Department informed the court that it had issued notice to 800 depositors but only 137 so far responded. (Photo: AP)
SummarySahara has so far raised Rs 3,117 crore which has been deposited with the market regulator.

or on interim bail for at least 40 days to sell his properties to raise Rs 10,000 crore to get bail and agreed to dispose of luxury hotels Dream Downtown and The Plaza in New York and Grosvenor House in London.

65-year-old Roy, who was sent to jail on March 4 this year for non-refund of over Rs 20,000 crore to depositors, was asked by the court to pay Rs 10,000 crore to get bail, out of which Rs 5,000 crore in cash and rest of the amount in bank guarantee.

The Sahara group, however, had been claiming that it has already repaid money to 93 per cent investors.

The apex court also asked SEBI on how it is verifying the genuine depositors and allowed it to publish advertisements in newspaper so that investors can claim their money.

Earlier, Roy had submitted that he may not be able to raise Rs 5,000 crore by selling assets situated in the country and urged the court to allow him to sell off overseas assets for which negotiations are going on.

Sahara has so far raised Rs 3,117 crore which has been deposited with the market regulator.

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TAGS: Subrata Roy Sahara Subrata Roy Mercy Subrata Roy Bail Business News
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