The secret of staying positive

Almost everyone at some points of time in their lives, have wondered or mused about the ‘secret’ to success. While there are many people who seem to offer advice on that topic with not much to show in terms of credentials, Subrata Roy is an exception. He is a man that has successfully started his own company with very little capital and gradually turned it into one of the biggest companies of the world. ‘Sahara’ is a company that was one of the first Indian companies to have a tangible global presence. It had interests in various sectors and was a thriving and flourishing business that employed millions of people at one point of time.

Subrata Roy is currently penning the sequel to his successful book, ‘Life Mantras’ which was released some time back. ‘Life Mantras’ is a book that is filled with pearls of wisdom relating to success. These pearls of wisdom emanate from Mr Roy’s life as a businessman and his various experiences during his life time. He has generously shared some of those experiences in detail throughout the book. Along with it being an interesting read, it is also a great guidebook to finding success in all the key areas of life.

There are amazing insights in the book about staying positive in life. It also has some meaningful words on handling one’s composure through the tough times. This was and remains to this day, Subrata Roy’s most inspirational quality. He has faced all of his life’s experiences with a great amount of humility and dignity. There are many men that will stand proudly when people talk of
their successes but there are very few men with enough guts to own up to their mistakes and take some responsibility. Subrata Roy has always been the man that takes responsibility for his actions.

He talks about the meaning and importance of ‘responsibility’ in great detail throughout his book, ‘Life Mantras’. Anybody that is looking to add some kind of structure to their lives should read this book. It has guidelines for attaining a peaceful work-life balance that most people can only dream about.

Antim Vidai of Rev. Chhabi Roy, mother of 'Saharasri' Subrata Roy Sahara

This is a glimpse into the kind of respect Smt Chabbi Roy commands. For even in death she is beseeched with an outpouring of love that is rarely seen these days. This video speaks more about the kind of woman she was and what she meant to people than any other form of tribute.

The Last Journey of Rev. Smt. Chhabi Roy, Mother of Saharasri Subrata Roy Sahara

The last rites of Reverend Smt. Chhabi Roy, mother of Saharasri Subrata Roy Sahara, has been performed yesterday dated 7th May 2016, in Baikunth Dham, Lucknow.
The last journey of Reverend Smt. Chhabi Roy has been attended by more than 50,000 people, including the family members of Sahara India Pariwar and the well wishers, including Shri Akhilesh Yadav - Hon'ble Chief Minister, Uttar Pradesh, Shri Shivpal Singh Yadav - Cabinet Minister, Uttar Pradesh, Shri Amitabh Bachchan, Shri Abhishek Bachchan, Shri Raj Babbar and his wife Smt. Nadira Babbar, Yoga guru Shri Bikram Choudhury, hockey Olympian Shri Dhanraj Pillai and many more. Shri Amitabh Bachchan and Saharsri Subrata Toy Sahara spent a considerable amount of time together in Sahara Shaher at Gomti Nagar, Lucknow.
At 4:30 PM, the funeral procession started for Baikuntha Dham. The open truck carrying Rev. Smt. Chhabi Roy was swarmed by the family members of Sahara India Pariwar. Wading through the crowd, Hon'ble Chief Minister of UP, Shri Akhilesh Yadav stopped near the gates to offer floral tributes. The procession turned into padyatra to reach its destination st 5:45 PM. Moments before sunset, Saharasri performed the mukhagnee ritual.

Sahara chief Subrata Roy’s mother passes away

With a deep pain and anguish, We are to inform that mother of 'Saharasri' Subrata Roy Sahara and the guiding light of our Sahara India Pariwar, Rev. Smt. Chhabi Roy, departed for her heavenly abode today i.e. 6th May,  2016 at 1:34 a.m. in the night. Smt Chhabi Roy wife of Late Shri Sudhir Chandra Roy was 95 year old. She was born on 15th of January in Araria district of Bihar. She has been critically ailing with for last more than 2 years and was at a makeshift hospital at Sahara Shaher, Lucknow. 

Sahara India Pariwar

Saharasri Subrata Roy Sahara’s book – ‘Life Mantras’ hits number one spot in the best seller chart of Nielsen

Lucknow, February 29, 2016: ‘Life Mantras’ – An exhaustive and thought provoking treatise by Shri Subrata Roy Sahara, Managing Worker & Chairman, Sahara India Pariwar, is ranked number one and has become best seller in the non-fiction category of Nielsen BookScan. According to Nielsen best-seller list, recently unveiled ‘Life Mantras’ which is published by Rupa Publication has topped the non-fiction book list this week and left popular Manorma Yearbook 2016 on the second spot.

The Nielsen BookScan service is the world’s largest continuous book sales tracking service operating in India, the UK, Ireland, Australia, US, South Africa, New Zealand, Italy, Brazil and Spain. It collects total transaction data at the point of sale directly from the tills and dispatch systems of all major book retailers. Nielsen BookScan collects data from online and offline booksellers including Bookadda, Crosswords, Connexion, DC Books, Flipkart, Indiatimes, Infibeam, Landmark, Landmarketail, Capital Book Depot, Rediff, Odyssey, Pageturners, TV18 Homeshopping, WH Smith India, ebay, Mahindra Retail, Relaince Timeout, Snapdeal etc.

‘Life Mantras’ has walked upright in the chart within a month of its launch and became a best seller. In his book Shri Subrata Roy Sahara elaborately details out the various psychological and emotional aspects of life vis-à-vis the basic instincts inherent in all human beings so that the gift of ‘Life’, bestowed upon us by the Almighty, emerges out in its true beauty.

‘Life Mantras’ happens to be the first book in the  ‘Thoughts from Tihar’ trilogy and is available in all leading book stores across India and abroad, at all leading online portals and also in the form of an e-book. The forthcoming books of the said trilogy are 'Think with Me - How to make our country ideal’ and 'Reflections from Tihar - A book on Tihar Jail’. These other two books of the trilogy will also be released soon. 

For further information please contact:

Ghulam Zeeshan

Corporate Communications

Sahara India Pariwar

Mob.: 9792982666; Off.: 0522 - 2724545

email id : ghulam.zeeshan@gmail.com

Subrata Roy pens his first book 'Life Mantras'

With immense pride and honor, Sahara India Pariwar is all set to launch the first book of the trilogy penned by honorable Saharsri from Tihar Jail.

The first of the trilogy of books written by Saharasri Sri Subrata Roy Sahara from Tihar Jail will be launched today, on the occasion of the 39th Foundation Day of Sahara India Pariwar.

The other two books of the trilogy ‘Think with Me’ How to make our country ideal and ‘Reflections from Tihar’Observations in Tihar Jail will be released in quick succession.

The books have been published by Rupa Publications, India. The organization is celebrating 39th Foundation Day today, 1st February.

Saharasri writing a touching message for his readers says, “After having gone through the book, you will definitely and convincingly realize that to achieve peace, true happiness, contentment, satisfaction and also to attain continuous progress in life in terms of material gains, respect and love, you need not depend on anybody in this world. It all depends on you. It is all in your hands.”

Wishing Hon'ble Saharasri Subrata Roy a very Happy Birthday.

Hon'ble Saharasri has inspired thousands of people to dream higher, so his birthday is marked as “Prerna Diwas” and celebrated by people who believe in his philosophy. Today, on this auspicious occasion we want to wish Subrata Roy a very Happy Birthday.

Subrata Roy is one among the top 10 most powerful businessman India can ever have. He is the founder and chairman of the famous Sahara India and has achieved more than fifteen awards for being the best Industrialist.

On 10th June, 1948, Subrata Roy was born in the district of Araria, Bihar. He was a very bright child, he also holds a diploma in Mechanical Engineering. Before he founded Sahara, he had already gathered 32 years of precious experience in business development along with 18 years of experience in real estate business. 

He opened his first office in Gorakhpur, which consisted of a table and two chairs along with a staff of one clerk and a runner boy. Initially he single headedly took up the business of Deposits and Para banking. But his life took a new turn in 1990s when he moved to Lucknow and set his business empire which is now over Rs.50, 000 crore. From there, it went on to become the largest conglomerate of India with a diversified range of business interests.

Apart from his business skills, he is also a humanitarian, he contributed to the relief efforts in flood hit Uttarakhand region by providing them the basic amenities along with free medical facility. He always believed in creating a family rather than a company. Which he did successfully, in a span of just 29 years, Sahara India has seen enormous growth as Roy was the driving force behind this success.

BAIL CASH ‘ARRANGED’, SUBRATA ROY READY FOR FAREWELL TIHAR

Buzz in Delhi says the Sahara boss, who is organising a series of entertainment shows for the prison staff and inmates, could be a free man before the summer holidays.

They are calling it Farewell Tihar. Encouraged by reports that the Rs 10,000 crore needed for bail has been finally organized, Sahara boss Subrata Roy is getting ready to leave Delhi's maximum-security prison. The capital is abuzz with news that the cash has finally been organized by the Lucknow-based conglomerate and that Roy could end his 14-month hiatus - a record for a corporate captain of his stature - around the time the courts close for summer holidays. 

Roy was imprisoned after he failed to appear for multiple court hearings in his firm's legal battle with the Securities and Exchange Board of India (SEBI). The funds raised are to help repay lakhs of small-town investors who trusted Sahara's "chit funds" with their savings. Roy must pay Rs 5,000 crore in cash and Rs 5,000 crore in bank guarantees to the Supreme Court. His company has paid Rs 3,117 crore to date. 

"We have been trying hard to raise funds to secure his release," said a Sahara India spokesperson. "We are pledging whatever we can at this point in time to ensure his exit from Tihar. We are confident we will be able to raise the money to secure his release before the summer holidays." 

It is reliably learnt that to secure Roy's release, Sahara is pledging whatever real estate the group has. 

Highly placed sources in Tihar claim the 14-month incarceration has left Roy - who called himself managing worker, once wore cash on his shirt and fancied parties with floral rains from a helicopter - a transformed man. On March 4, Roy, 67, marked a star sign on his prison wall to indicate a year in jail. 

The Sahara chief, who has kept himself fit by playing badminton regularly, has been keeping track of his business, indicating to his staffers that once out his immediate focus would be on media outlets like its television channels and newspaper. Late last month, he called a meeting of regional media heads and asked why their channels were not among the top three news channels. Cash and staff morale were problems, he was told. It is reliably learnt that Roy has given 25 days to his managers to come back to him with a game plan for the channels. 

Roy has continued his motivation letters from the prison to his employees, two of whom have already committed suicide. "I am coming out soon, have faith in me, the company. Work hard, please do not get worried about salary delays," he wrote. "I do not have a magic wand in my hand. We are going through a crisis... But we will grow, faster than before." 

Meanwhile, Roy has other plans - among them a grandiose farewell to the jail staff and prisoners in the form of a series of entertainment shows. The first one was held last year when singers Sapna Mukherjee (of Tridev fame) and Sonu Nigam performed for three hours before a packed audience. Bollywood star Salman Khan, who has tried unsuccessfully to meet Roy, has also agreed to perform at Tihar. And last month, the jail authorities - encouraged by Roy - have started a Sunday morning series involving top classical musicians. Two weeks ago, Grammy nominee flutist Ronu Mazumdar performed in Tihar. "Many lined up for classes with me," the musician said. 

Next on the list is a sitar-cello duet by Subhendra Rao and Saskiya Rao. "We want to bring positivity in the lives of the inmates," said Alok Kumar Verma, director general (prison). 

Dipayan Mazumdar, head of Legends of India, the Delhi-based cultural group organizing the shows with Tihar, is optimistic of roping in Roy - even after he leaves the prison - to continue the shows throughout the year. "It will be a big help," said Mazumdar. 

Roy has also been meeting prisoners during the daily "free time". He has advised many to start their own business because of India's troubled job market, recounting days when he drove a Lambretta scooter across Lucknow to promote his company. The book he wishes to write is almost ready, Roy has been writing for one or two hours every day. He wants to write on prison reforms and, of course, on those who "forgot him", including friends from the corporate world and Bollywood stars. 

"You know who are your friends when you are in bad times," Roy wrote in his last motivational letter to employees. In the jail he has, however, remained silent when asked about his "betrayers".

Statement from Sahara Counsels Ayush Chaudhary & Abhinav Mani Tripathi

We are thankful to the Hon’ble Court for giving us permission to raise funds via mortgage and sale of certain properties. Looking at the magnitude of the transactions involved, the Hon’ble Court has allowed us 90 days time to work from the conference room within Tihar Jail court premises, extending the facilities of video conferencing and meeting with various parties.

Apart from the mortgage of the three foreign properties, court has also allowed sale of ten domestic properties and a land parcel of Aamby Valley City. We are in a very advanced stage with many parties and shall execute these deals at the earliest. We have already deposited nearly Rs. 4,000/- crores in the ‘Sahara-SEBI Account’ and we shall be very shortly depositing the remaining amount along with the Bank Guarantee.

Sahara Counsel

Ayush Chaudhary & Abhinav Mani Tripathi

PRCI Chanakya Jury's Special Award 2015 for Shri Abhijit Sarkar in Sports Communications

Public Relations Council of India (PRCI), the ace body of Communications and PR professionals awarded Shri Abhijit Sarkar, Head – Corporate Communications & Director-Sahara Adventure Sports Limited, Sahara India Pariwar, with the coveted Chanakya Jury’s Special Award 2015 for his exemplary work in the field of Sports Communications. Shri Jual Oram, Union Minister of Tribal Affairs, Govt. of India presented the award to Shri Abhijit Sarkar, in a glittering ceremony held at New Delhi on 13^th March, 2015.

This award is an eloquent manifestation of the fact that Shri Abhijit Sarkar, is probably the only sports management expert in the country who has so effectively contributed to sports in India, across the board. His exceptional efforts in bringing together Corporate for promoting sports in India from regional, national and international level not only took sports like cricket to greater heights but also brought excellence in those sports which are less popular and require infrastructural and financial support and there is hardly any sport left in the country where his efforts and encouragement have not been recognized. His outstanding contribution to Indian sports is also evident from the fact that he is the Co-Chairman of FICCI Sports Committee for the past two years and also a member of the prestigious Sports Committee of CII for last three years. He has also been the Convener of Publicity & Media Sub Committee of the XIX Commonwealth Games, 2010.

For his contribution in the field of Sports and Corporate Communication in general and Public Relations in specific, he has been awarded with the ‘Most Dynamic Corporate Communications Professional of the Year’ in the Powerbrands Hall of Fame Awards in London 2011. He has also been conferred with Indy’s Excellence Award 2008 in the field of Corporate Communications, Crises Management and PR and ‘Communicator of the Year” award 2011 by IPRCCA, ‘Chanakya Corporate Communication Professional of the Year’ by Public Relations Council of India.

Additionally, Mr. Sarkar’s unparalleled expertise and leadership in the field of sports have also accorded him vital positions in various sports bodies. He is Director - Sahara Adventure Sports Limited, Director – Sahara Force India (India’s only Formula One team), Director – U.P. Wizards (U.P. Franchise team of Hockey India League), Director – Ranchi Rays (Ranchi Franchise team of Hockey India League), Director – Awadhe Warriors (Lucknow Franchise team of Indian Badminton League), and Director – Sahara Warriors (Sahara’s Polo team). His charm and dignity made him a personal favorite of nearly all the eminent sportspersons who always consider him as their indispensable support.

It was in consideration of his deep understanding of the nuances of media and sports, vast experience and expertise in the area of communications and Sports Management that he was appointed as a Convener – Publicity & Media Sub Committee of the XIX Commonwealth Games, 2010. For the same, Sahara eventually received Gold Award under the category of ‘Public Service Campaign’ by the Public Relation Council of India in 2011.

Mr. Abhijit Sarkar has played pivotal role in cementing Sahara’s inseparable association with Sports, for the past 15 years, whether it is the Sahara Cup in Canada, Sponsorship of the Indian Cricket Team for 14 years, Indian Hockey Team, Indian Women Cricket team, Indian Volley ball team or playing a pivotal role in Sahara’s association with Hockey, Boxing, Wrestling, Archery, Shooting, Football, Golf, Polo, and other sports disciplines. Besides, being the most visible face of Corporate Communications professionals in India, he also happens to be one of the tremendously successful in taking Indian sports to the next level. Under Mr. Sarkar’s visionary guidance Sahara is supporting 73 Sports person out of which 5 had won medals in London Olympics 2012.

Having bestowed upon with multitudinous tasks in running Sahara’s IPL Pune franchisee – Pune Warriors India, as director Mr. Sarkar lead the IPL team for three consecutive years and played a decisive role in getting the coveted franchisee for Sahara.

Moreover, Mr. Sarkar has been instrumental in developing and executing various well acclaimed international and national events like Sahara India Sports Awards (SISA) – the one-of-its-kind platform to honor the sporting legends. The ‘Sahara India Sports Award’ won Silver Award under the category of ‘Corporate Event’ by the Public Relation Council of India, 2011.

Since the early days to the present day, Sahara’s association with Indian Cricket has traveled a long journey of significant milestones that deserved to be chronicled. The story of the rise of Indian Cricket team as a cricketing super power during the course of Sahara India Pariwar’s long association not only needs to be told but also preserved for the future generation of the cricket lovers.

In the same context, Mr. Sarkar came with a up concept of preparing a Coffee Table Book, ‘The Golden Era’, which is a sumptuous tribute to Cricket and commemorates Sahara’s glorious association with Indian cricket in a form of book that spans from Natwest Trophy win in 2002 which is considered a turning point in Indian cricket after, of course, the 1983 World Cup triumph to India’s recent home series against South Africa. The book has number of sections with brief bios on each of the recent great cricketers. The book was conceptualized, ideated and produced under the guidance of Mr. Abhijit Sarkar.

In addition to this, he was instrumental in bagging the coveted franchisee of Uttar Pradesh in 2012 for the Hockey India League. Spearheading the U.P. Franchisee, he added another feather in his cap by adding another franchisee, Ranchi Rays in 2014, in the Hockey India League, which Sahara co-owns with cricketing legend, M.S. Dhoni.

Besides, he played a major role when Sahara announced its co-ownership in India’s only formula One Team with Dr. Vijay Mallya. Not only India, he expanded the horizon of Sahara’s association with sports beyond a nation, when Sahara bagged the official sponsorship of Bangladesh Cricket team in 2012.

Sahara’s Rs. 12,000 Crores are already with SEBI

Sahara says that report of Due amount of Rs 40,000 Cr is incorrect, since such amount or such observation was never made during the course of hearing either by the Counsel appearing for SEBI or by the Hon’ble Court or any other Counsel. The figure of Rs. 40000 Cr. is imaginary and same amounts to irresponsible reporting of Court proceedings. There is no pleading or any document in the Court record which mentioned the figure of Rs. 40000 Cr. The order dictated in the open Court on 13.03.2015 also does not bear this figure and therefore, these amounts to incorrect reporting of Court proceedings which further dented the image of Mr. Roy and two directors in the public eye.

2.      In fact, the Court very fairly stated that amount payable was subject to verification and after verification all excess amount would be refunded Back to Sahara.

3.      There is no observation pertaining to the reporting of one month to save group by the Hon’ble Court, same is misconceived.

As a matter of fact, the Hon’ble Court observed during the proceeding to Mr. Kapil Sibal, Senior Advocate that the outhouse facility along with secretarial staff etc. can be extended even up to “two months” provided a concrete proposal is put forward as far as the satisfaction of the bail bond of rest of the amount of about 6000 Cr. is concerned. Please note that Sahara's two companies are asked to provide proposal for complying with the remaining amount out of bail amount of Rs. 5,000 Cr cash (out of which Rs. 4,000 Cr. cash has already been paid to SEBI) and Rs. 5,000 Cr. as bank guarantee and not for any imagery figure of Rs. 40,000 Cr.  The period of 2 month was observed by the Hon’ble Court when Mr. Sibal requested for 8 weeks outhouse facility to finalize the transaction to satisfy the bail bond amount of Rs. 10,000 Cr. as ordered by the Hon’ble Court on 26.03.2014.

Therefore, the figure of 4 weeks as reported in the article is incorrect since Mr. Sibal sought 8 weeks’ time and not 4 weeks. Same is clarified to that extent.

4.      The news represented that an ultimatum was given whereas the order passed by the Hon’ble Court makes it clear that the Hon’ble Court accepted the request of not appointing a Receiver since Mr. Sibal stated that a serious attempt has been made for finalizing a deal of which the documents will be provided to the Amicus Curiae and the Counsel for SEBI. This acceptance of the request was also noted in the order dated 13.03.2015. As a matter of fact, Mr. Sibal stated that the situation of appointment of a Receiver may not arise if an opportunity is given. There is nothing mentioned in the order passed on 13.03.2015 about any ultimatum and therefore same amounts to incorrect reporting and same is clarified to that extent.

5.      The Hon’ble Court extended the facility of communication up to 5 hours a day to Mr. Roy and two directors of Sahara’s two companies, inside the jail premises which was not reported in the article. Further, jail authorities were also directed to facilitate Mr. Roy and two directors with two laptops for functioning which was also not reported in the article.

6.      During the hearing, SEBI was directed to file an affidavit clarifying its stand when a letter was indicated to the Hon’ble Court by Mr. Sibal that a communication was issued to HDFC Bank by SEBI on 19.12.2013 that the order dated 21.11.2013 only applies to specific movable and immovable properties in a particular application, therefore, RBI has no cause of action to state that there was a violation by Sahara India Financial Corporation Limited of the order passed by the Hon’ble Supreme Court on 21.11.2013 and 04.06.2014.

7.      Further, Mr. Sibal fairly stated during hearing that about Rs. 12,000 Cr. stands deposited with SEBI as on date out of which barely anything was disbursed by SEBI. The Hon’ble Court also made it clear that it will be open to argue on that issue at a later stage. However, the article in the front page of the newspaper reported that only Rs. 5,120 Cr. was deposited whereas nearly Rs. 12,000 Cr. stands deposited with SEBI as on date. Same is clarified to that extent.

Sahara employees face salary delays on liquidity crunch

NEW DELHI, FEB 27:  

Sahara’s long-drawn dispute with regulator Sebi over investor repayments has begun to take its toll on salaries of the group’s employees, which are getting delayed amid a major liquidity crunch.

The salary delays are mainly being faced by the staff members in the corporate offices of the crisis-hit group, while there are also delays on certain statutory payments and operating obligations or expenses related to day-to-day business due to difficulty in fund flows.

When contacted, a Sahara spokesperson confirmed the delays in salary and other payments, while adding that the junior staff members are being given priority for the payments.

“We are working to diffuse this crisis, which has also created grave difficulties for our employees. Sahara India is one big Pariwar (family) and all the employees are its members, who are standing together in these difficult times.

“With our dedicated employees and the strong fundamentals of the group, we are hopeful that we will soon come out of this crisis,” the spokesperson told PTI.

The group has over 10 lakh full-time and part-time employees, including permanent staff at its various companies, permanent agents who get regular incentive payments besides a large number of part-time agents.

While the exact number of persons whose salaries and other payments have been delayed could not be ascertained, sources said their numbers could run into “tens of thousands”.

“The group is facing a liquidity crunch for past one year due to embargo and double payment (for investor refund), resulting into many problems like meeting the salary, statutory and other operating obligations/expenses in doing business,” the spokesperson said.

“We are however releasing the salaries time to time based on the fund flow on a continuous basis. The delayed salaries of junior staff were released just a few days back as extra care has been taken for our junior staff. Soon salaries of other brackets will be released,” he added.

“In some business divisions, salaries of our employees have got delayed by many months. However, situation is better at those divisions which have their own fund-flow like the Group’s luxury hotel Sahara Star in Mumbai, resort town Aamby Valley City and the 500-bed tertiary care Sahara Hospital in Lucknow.

Replying to queries on salary delays, the group spokesperson said that “for the past 14 months, Sahara India group’s all kinds of assets and bank accounts are under embargo of Supreme Court and there is an extra burden of demand of double payment against single liability in Sahara-Sebi case”.

Sahara is trying to raise necessary funds to secure release of its chief Subrata Roy, and two other officials, from Tihar Jail where they have been lodged for almost a year in connection with the investor repayment case.

The group was asked by the Supreme Court in August 2011 to deposit over Rs. 24,000 crore with Sebi for refund to investors. Sahara, which has deposited some instalments since then with Sebi, maintains that it has already refunded over 95 per cent of investors directly.

The spokesperson further said that “any fund raised by the group, which we are doing, through sales and mortgaging of properties, that money shall go to Sahara-Sebi account and nothing will come to the corporate“.

“The money deposited in Sahara-Sebi account is a double payment, which we are making.”

The spokesperson also said that “Sahara’s two Companies in question collected Rs. 25,780 crore through OFCD (Optionally Fully Convertible Debenture) schemes. Of this, Sahara repaid almost 95 per cent (around Rs. 23,000 crore) of OFCD liabilities of these two companies by 2012.

“In addition to this, Sahara till date has already deposited more than Rs. 11,000 crore (including interest) with Sebi and by the time our Chairman (Subrata Roy) comes out of custody, we shall be having aroundRs. 18,000 crore with Sebi.

“... as per the order of Supreme Court, the entire money with bank interest shall come back to Sahara after verification. But for the same, Sebi has to initiate verification of our investors and the repayments which we have made and return the money to us.”

The recent attempts by Sahara to raise funds through a US-based entity Mirach Capital failed, while the group has said it is now in talks with an European bank and a Dutch pension fund, among others, to explore garnering funds to ensure release of Roy and two others from jail.

The Supreme Court recently posted the matter for further hearing on March 13, while asking Sebi and other parties to respond to Roy’s plea for extension of facilities inside the prison by at least two working weeks to explore negotiations with these prospective parties.