What next for Sahara’s Subrata Roy?23 min read 04 Mar 2014, 01:01 AM IST
Sahara group chairman will be produced in Supreme Court on Tuesday, but what will happen in court is anybody's guess
Mumbai: On 20 June 2008, three days after India’s banking regulator released its directions for shutting down Sahara India Finance Corp. Ltd (SIFCL), Sahara India Pariwar’s residuary non-banking financial company (RNBC), the Mayawati government in Uttar Pradesh demolished one wall of the high profile Sahara Shaher at Gomti Nagar—the fortified, 360-acre, self-supporting township in Lucknow that houses Pariwar’s headquarters—to make way for a road. The demolition drive didn’t last beyond a few hours. Coming down heavily on the Lucknow Development Authority, the urban planning and development wing of the city, the Allahabad high court asked the Uttar Pradesh government to return the land to the Sahara group and explain why it demolished the wall without any notice.