What happened with Subrata Roy?

Roy’s liabilities have ballooned from ₹ 25,700 crore he was ordered to pay eight years ago. The Supreme Court in 2012 ruled that Sahara group companies violated securities laws and illegally raised over $3.5 billion. SEBI could not trace the investors and when Sahara firms failed to pay up, the court sent Roy to jail.

Is Sahara returning money?

Capital markets regulator Sebi has managed to refund Rs 129 crore to investors of two Sahara companies in nearly nine years after being assigned the task by the Supreme Court, while the amount deposited in specially-opened bank accounts for the repayment purpose has swelled to over Rs 23,000 crore, according to the …

Where is Subrata Roy now Quora?

Currently he is living at his residence in Lucknow, Uttar Pradesh. His company Sahara India Pariwar is working to cope up from the prolonged legal battle with SEBI. Roy has recently been granted the control of his magnum opus Aamby Valley once again by the Supreme Court of India.

Who is Subrata Roy wife?

Swapna Roy
Subrata Roy/Wife

What happened to Amby Valley?

In July 2018, the Supreme Court lifted the attachment of Aamby Valley after several failed attempts by the official liquidator to auction the property to repay the depositors of Sahara. Most of the activities inside the city have halted since 2017 when the Supreme Court ordered the attachment.

What is Sahara doing now?

As he failed to appear in the court during the ongoing legal battle, Roy was held in custody in the Tihar Jail, Delhi and is now out on parole since May 2016. Sahara was allowed to sell a part of its assets in India to raise part of the money in question.

Is Sahara India still active?

Sahara India Pariwar was founded by Subrata Roy Sahara in 1978. The group operates more than 5,000 establishments across India with the employee strength around 1.2 million (both field and office) under the Sahara India umbrella.

What happened Sahara group?

March 2015 – Supreme Court stated that the total dues from Sahara have gone up to Rs 40,000 crore with the accretion of interest. July 2015 – SEBI cancelled the licence of Sahara’s mutual fund business. May 2016 – Subrata Roy released on parole from Tihar jail.

What has happened to Aamby Valley?