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Sahara looking to sell Force India stake
Indian conglomerate Sahara is looking to sell its stake in F1 team in effort to free jailed founder, Subrata Roy Roy was arrested in March 2014 after the company failed to comply with a court order to refund money raised from small investors who had been issued bonds subsequently found to be illegal. Whilst the Supreme Court ordered the group to repay an estimated $5.3bn to investors in the bond, Sahara has allegedly only been able to raise 95% of its liability, which the court has not accepted. Now, the group, whose assets include New York's Plaza Hotel, the Grosvenor House hotel in London, the Sahara Star hotel in Mumbai and a stake in a Force India is looking to offload some of them in...
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8y ago from Pitpass.com
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