Subrata Roy Completes 1 Year In Jail

March 04, 2015 12:04
Subrata Roy Completes 1 Year In Jail

Sahara Group Chief Subrata Roy completed 1 year jail after he has been arrested last year as he failed to pay an amount of Rs 20,000 crores to its investors and a non bailable warrant has been issued for his failure of appearance before the court. Though he tried to reach out in several ways, he failed badly and we have been hearing many other bad things which will sure disturb the well wishers and employees of Sahara Group. The news is that the iconic hotel property Grosvenor House, estimated to be worth over Rs 5,000 crore, has been put on sale by lenders. The hotel has been famous in London and is one of the leading hotels over there.

Sahara Group has been trying to raise the funds from the past few months to release their Chief Subrata Roy but they could not do it. The three iconic hotels - The Plaza and Dream Downtown in New York and Grosvenor House in London - were acquired by Sahara between 2010 and 2012 at an estimated valuation of $1.55 billion. Now after Grosvenor House has been kept on sale, Sahara Group has been worried more about the release of Subrata Roy and about the other properties all over.

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Subrata Roy  Sahara  Tihar Jail