BackSupreme Court directs Sahara to disclose dealings with Reuben Brothers
A three-judge bench headed by justice T.S. Thakur said any dealing by Sahara will have to be disclosed to the court
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New Delhi: The Supreme Court on Monday asked Sahara India to disclose details of its deals with Bank of China and Reuben Brothers.
The court was hearing a plea by UK-based Kane Capital Partners Ltd, seeking to bid for the Sahara Group-owned Grosvenor House Hotel in London. Expressing doubts over Sahara’s dealings with Reuben Brothers, Kane Capital said Sahara’s UK properties may move out of the apex court’s jurisdiction.
A three-judge bench headed by justice T.S. Thakur said any dealing by Sahara will have to be disclosed to the court.
Earlier, the Sahara group, in an email statement, had said it had averted the sale of Grosvenor House by negotiating a deal with Reuben Brothers to take over a loan advanced to it by Bank of China.
Senior counsel Kapil Sibal, appearing on behalf of Sahara, apprised the court of two other ‘serious offers’ to buy Sahara’s UK properties.
The case will be heard next on 14 September.
Sahara has filed a defamation case in a Patna court against Mint’s editor and some reporters over the newspaper’s coverage of the company’s dispute with Sebi. Mint is contesting the case.
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