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SC allows Sahara to conduct proposed loan transaction from abroad

| | Jan 10, 2015, at 01:02 am
#SC allows Sahara to conduct proposed loan transaction from abroad # Subarata Roy Sahara
New Delhi, Jan 9 (IBNS): In a relief for Subrata Roy, the Supreme Court has allowed the Sahara Group Chief to proceed with its proposed loan transaction from abroad for raising funds.

The Sahara Group will now have to seek permission from the Reserve Bank of India for transfer of money to India from abroad, the court observed on Friday.

The court also extended Roy's conference facility in Tihar jail to deal with the transactions.

Roy is in Tihar Jail since early last year after his arrest for allegedly defrauding investors of over Rs 200 billion.

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