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Sahara tells Supreme Court it will get a loan against its 3 hotels abroad

Nov 28, 2014 04:29 PM IST India India
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New Delhi: The Sahara group has informed Supreme Court that it has found somebody who is willing to give the company a loan against its three hotels abroad.

The group has sought permission to transfer Rs 3070 crore in a Escrow account against these properties. SC has directed Sahara to deposit Rs 186 crore which has been raised by selling some properties in India.

Subrata Roy, the chief of Sahara group, was jailed in March amid a long-running dispute of Sahara with the capital markets regulator Securities and Exchange Board of India (SEBI) over repayment of billions of dollars to investors who were sold certain bonds. The Sahara group, however, has maintained that it has repaid over 93 per cent to the investors.