March 29, 2024 14:22 (IST)
SC allows Sahara to conduct proposed loan transaction from abroad
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.
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
India-Mozambique-Tanzania Trilateral exercise ends in Nacala Fri, Mar 29 2024
PM Modi to kickstart BJP's Lok Sabha poll campaign from Meerut Fri, Mar 29 2024
Kangana Ranaut in Mandi: 'Don't think I am a heroine, consider me as your sister and daughter' Fri, Mar 29 2024
Kashmir: Woman among 2 absconders arrested in Baramulla Fri, Mar 29 2024
PM Modi has mastered art of manipulating democracy, hurting Constitution: Mallikarjun Kharge Fri, Mar 29 2024
Mafia-turned-politician Mukhtar Ansari dies of cardiac arrest at 63 Fri, Mar 29 2024
NIA arrests key conspirator in Bengaluru cafe blast case Thu, Mar 28 2024