Sahara gets three more months to submit its final plan to raise funds

The Supreme Court of India today gave three months time to Sahara to submit its final plan to raise funds. Meanwhile, Subrata Roy, founder of the Sahara group continues to be in Tihar Jail, where he has been lodged for more than a year

Today, the Apex Court allowed Sahara to sell part of its Aamby Valley township, which is outside of Mumbai and has luxury villas as well as a golf course. Earlier, the Supreme Court had given the final chance to Sahara to raise funds.

Sahara Group, has to pay $1.6 billion as the amount to obtain bail for Subrata Roy, an amount which it has failed to raise till date.

You may read our in-depth coverage of the case here.