This Sahara thing is totally funny now. So Sahara Chief Subroto Roy has been cooling his heels in jail for the better part of a year now. Because the courts will only let him go if he repays Rs. 10,000 cr. he owes investors. Roy had said he has the money, but was never able to prove it, so the court said bring us the 10,000 cr. and we’ll give you bail. He’s probably not liking this jail thing so much, which is why he’s been negotiating with anyone, just about anyone who can give him the paltry sum of Rs. 10,000 cr. to get him out of there. What’s a few thousand crores between friends, he must be thinking after which he instantly realizes he has no friends. But one turned out of thin air – California based fund Mirach capital is run by Saransh Sharma who said he’d lend the money to Roy, using the Sahara Group’s hotels in London and New York as collateral.… (Read On…)
[via Capital Mind]
Follow us @investmentheat – lists / @sectorheat