SC clears path for Sahara Group to sell assets
ECONOMY & POLICY

SC clears path for Sahara Group to sell assets

The Supreme Court of India has approved the Sahara Group's request to sell certain assets to repay its investors. This decision marks a significant step forward in the long-standing legal battle involving the Sahara conglomerate. The court stressed the importance of transparency in the process to ensure fair dealings and protection for investors.

In its ruling, the court directed Sahara to provide detailed reports on the asset sales and ensure that all transactions are conducted with full disclosure. This move is intended to prevent any potential mismanagement or fraudulent activities that could undermine the interests of the investors.

The Sahara Group, which has been embroiled in legal troubles for several years, welcomed the court's decision. The group expressed its commitment to adhering to the court's directives and ensuring that the sales are executed transparently and efficiently.

This ruling is expected to expedite the repayment process for investors who have been waiting for their dues for an extended period. The court's emphasis on transparency is seen as a crucial step in restoring confidence among stakeholders and ensuring that the repayment process is conducted fairly.

The 14th RAHSTA Expo, part of the India Construction Festival, will be held on October 9 and 10, 2024, at the Jio Convention Centre in Mumbai. For more details, visit: https://rahstaexpo.com

The Supreme Court of India has approved the Sahara Group's request to sell certain assets to repay its investors. This decision marks a significant step forward in the long-standing legal battle involving the Sahara conglomerate. The court stressed the importance of transparency in the process to ensure fair dealings and protection for investors. In its ruling, the court directed Sahara to provide detailed reports on the asset sales and ensure that all transactions are conducted with full disclosure. This move is intended to prevent any potential mismanagement or fraudulent activities that could undermine the interests of the investors. The Sahara Group, which has been embroiled in legal troubles for several years, welcomed the court's decision. The group expressed its commitment to adhering to the court's directives and ensuring that the sales are executed transparently and efficiently. This ruling is expected to expedite the repayment process for investors who have been waiting for their dues for an extended period. The court's emphasis on transparency is seen as a crucial step in restoring confidence among stakeholders and ensuring that the repayment process is conducted fairly.

Next Story
Infrastructure Urban

India, US to promote sustainable aviation fuel and hydrogen in buses

India and the United States have agreed to promote sustainable aviation fuel (SAF), electrification of medium and heavy-duty vehicles, and the use of hydrogen in buses, tractors, and heavy equipment. This decision came during the Strategic Clean Energy Partnership (SCEP) dialogue between US Energy Secretary Jennifer Granholm and Indian Minister of Petroleum and Natural Gas Hardeep Singh Puri in Washington, DC. Both nations also encouraged increased investments in each other's clean energy markets. The joint statement emphasised the importance of a "just, orderly, and sustainable energy trans..

Next Story
Infrastructure Transport

Tuticorin Airport upgradation set for December completion

Tuticorin Airport in Tamil Nadu is undergoing a significant upgrade, with an expected completion date in December 2024. The project, valued at Rs 3.81billion, is being carried out by the Airports Authority of India (AAI) and involves the extension of the runway to accommodate A-321 type aircraft, construction of a new apron, a new terminal building, a technical block with a control tower, and a new fire station. The new terminal building, covering 17,500 square meters, will significantly enhance the airport's capacity, enabling it to serve 1,440 passengers during peak hours and handle up to 2 ..

Next Story
Infrastructure Transport

Airfare hike not tied to increased airport charges; ACI

The Airports Council International (ACI) stated that rising airfares are not linked to increased airport charges. Airport charges are crucial for infrastructure development within the commercial aviation ecosystem, but they remain a minimal part of the overall airfare. Stefano Baronci, Director General of ACI Asia Pacific & Middle East, emphasized that airports are infrastructure-intensive businesses, with costs dominated by maintaining essential infrastructure such as runways, taxiways, aprons, and terminal buildings. He noted that neglecting the capital expenditure needed to support future g..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000