SC gives Sahara 3 months to repay investors

The Supreme Court has given conglomerate Sahara three months to submit a final proposal to raise funds in order to repay its investors.

According to reports, a bench headed by Justice T S Thakur granted Sahara three months to complete negotiations, failing which its properties would be put to auction. The apex court has also allowed Sahara to sell part of its Aamby Valley township near Mumbai and other properties to raise funds to seek the bail of founder Subrata Roy.

Roy was arrested after Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal.