Sahara says no exposure to BBVA

Sahara in a statement issued on Wednesday said it did not have any exposure to BBVA and neither had claimed that.

The statement said, "Sahara has no relationships with BBVA Bank. It is Nouam, which has a relationship with BBVA. An independent law firm of repute and banks vetted all documents before being presented to the Supreme Court of India.

"Moreover, this proposal of a foreign company about BBVA fund is not meant for bailing out Roy. The money in question is an endeavour of a foreign company, which is planning to purchase a loan portfolio of the Bank of China.

"The deal is in its initial stages and we would therefore request you to kindly handle the matter with sensitivity and utmost care. Don't draw inferences on the basis of limited information circulated by a section of the media."