SC asks Sahara Group to deposit Rs 10,000 crore to grant bail to Subrata Roy

March 26, 2014

Sahara_Group
New Delhi, Mar 26: The Supreme Court on Wednesday set a condition of depositing Rs 10,000 crore by Sahara Group for granting bail to Subrata Roy. The apex court agreed to defreeze bank accounts of Sahara companies to raise Rs 10,000 crore.

The court adjourned the case for tomorrow, asking the group to give details of the bank account numbers which are to be defreezed.

The Sahara group on Tuesday had made a fresh proposal before the Supreme Court for depositing Rs 20,000 crore investors' money with SEBI to secure release of its chief Subrata Roy who has been behind the bars along with company's two directors since March 4 when they were sent to judicial custody.

In the proposal, the group had assured the apex court to deposit Rs 2,500 crore within three working days and pay three instalments of Rs 3,500 cr each at the end of June, September, December and the remaining Rs 7,000 crore by March 31, 2015.

A bench of justices K S Radhakrishnan and J S Khehar, however, refused to take the proposal on record and asked the group to file the document in the registry after which it will consider.

The group, in its proposal, also said that it is willing to give an irrevocable bank guarantee at any time for any unpaid amount and sought court's permission to allow the group companies to operate bank accounts which have been frozen.

The group had earlier made a similar proposal by offering to make cash payment of Rs 2,500 crore within three days and Rs 14,900 crore in five instalments by the end of July, 2015. It had contended that only Rs 15,400 crore remained to be paid.

The apex court had rejected the proposal on March 7. The bench, however, continued with the hearing on maintainability of Roy's petition challenging his detention by the apex court.

Senior advocates Ram Jethmalani and C A Sundaram, appearing for the group and Roy, submitted that the apex court's order passed on March 4 is illegal and the plea be decided on merit.

SEBI had earlier contended that Roy's petition is not maintainable as he challenged the court's verdict by filing writ petition. It submitted that Roy can seek review of the order.

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News Network
December 15,2025

Udupi, Dec 15: What was meant to be a post-pilgrimage gathering turned tragic in Padukere village of Brahmavar taluk, Udupi district, late Sunday night, when a clash among youths escalated into a fatal assault, leaving one man dead.

The victim has been identified as 30-year-old Santosh Mogaveera, a resident of Padukere.

According to preliminary information, the incident took place during a late-night drinking party involving a group of local youths who had recently returned after completing their pilgrimage to the Sabarimala shrine. An argument reportedly broke out among the group and soon escalated into a violent confrontation.

During the ensuing brawl, Santosh Mogaveera was allegedly assaulted and collapsed at the spot after sustaining serious injuries. He was rushed by local residents to a private hospital in Brahmavar, where doctors declared him dead.

On receiving information, senior police officials, including Brahmavar Circle Inspector Gopikrishna, Kota Police Sub-Inspector Praveen Kumar T, Station ASI Manthesh Jabagoudar, and head constables Pradeep and Ashok, visited the spot and conducted an inspection.

Police have taken four youths into custody in connection with the incident. A case has been registered at the Kota police station, and further investigation is underway to ascertain the exact sequence of events leading to the death.

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News Network
December 15,2025

Mangaluru, Dec 15: Educational institutions in Mangaluru that rely on the popular Mangala Stadium for their annual sports events are bracing for an inconvenience as the city's key sporting venue is set to close its gates for a significant upgrade. The stadium is expected to be unavailable for approximately two months starting from January 15, 2026.

The closure is necessitated by a proposed overhaul of the stadium's facilities, with a special focus on upgrading the synthetic track. Pradeep Dsouza, Assistant Director of the District of Youth Empowerment and Sports (DYES), Dakshina Kannada, confirmed the development.

"Experts have visited the stadium, conducted a thorough inspection, and have given the go-ahead for a complete makeover," Dsouza stated. "Funds have been allocated for the project, and we are currently awaiting the final green signal from state officials to commence the work. We anticipate that the work will likely begin in the second week of January. Consequently, we have stopped renting out the stadium to colleges and other organizations in preparation for the upgrade."

The timing presents a logistical challenge for colleges, as many schools have already concluded their sports meets.

"Colleges will now be organizing their events and will need to find alternative locations to host their sports meets," Dsouza added. He suggested a few potential venues, including the Dakshina Kannada police ground, University College grounds, Panambur grounds, Swaraj Maidan in Moodbidri, and the Mangalore University sports grounds in Konaje.

However, many institutions note that finding a comparable venue will be difficult. While the DK police ground and University College grounds are closer to the city center, they do not possess the extensive facilities and infrastructure offered by Mangala Stadium.

Dr. P Dayananda Pai - P Satisha Govt First Grade College, Carstreet, is one such institution dependent on the stadium. Principal Jayakar Bhandary expressed hope for a swift completion of the work. "We expect the work to be completed at the earliest. If not, we will be forced to look for other venues to host the sports day for our students," Bhandary said, highlighting the pressing need for the city's main sporting facility.

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News Network
December 15,2025

Mangaluru, Dec 15: Air India Express has announced that it will resume direct flight services between Mangaluru and Muscat from March 2026, restoring an important international air link for passengers from the coastal region.

Airport authorities said the service will operate twice a week—on Sundays and Tuesdays—from March 1. The initial flights are scheduled on March 3, 8 and 10, followed by March 15 and 17, with the same operating pattern to continue thereafter. The flight duration is approximately three hours and 25 minutes.

The Mangaluru–Muscat route was earlier operated under the 2025 summer schedule, with services beginning on July 14. At that time, Air India Express had operated four flights a week before suspending the service.

Officials said the summer schedule will come into effect from March 29, after which changes in flight timings and departure schedules from Mangaluru are expected. Passengers have been advised to check the latest schedules while planning their travel.

The resumption of direct flights to Muscat is expected to significantly benefit expatriates, business travellers and others, further strengthening Mangaluru’s air connectivity with the Gulf region.

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