Sultan of Brunei in frame as troubled India group unloads assets – beyondbrics - Blogs - FT.com:
"An eccentric Indian tycoon, some of the world’s most luxurious hotels and now the Sultan of Brunei. The story of one Indian company’s tortuous journey out of legal hot water has just taken another twist.
The Sultan of Brunei has emerged as the lead bidder for the Grosvenor House Hotel and other luxury properties that India’s beleaguered Sahara group has been trying to sell off in a desperate attempt to get its ‘managing worker’ out of jail.
Subrata Roy (above), the tycoon at the head of Sahara India Pariwar, has been in jail for several months now after failing to turn up in court. The entire case centres around a dispute with the Securities and Exchange Board of India (Sebi), the markets regulator, over $4bn that the group’s subsidiaries raised in 2008 through convertible bonds."
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