Monday, March 30, 2015   

Black day for Indian tycoon Subrata Roy
(03-04 17:13)

A lawyer threw ink at Indian billionaire Subrata Roy (Pictured) today as he arrived at India's highest court to face charges that his company failed to return billions of dollars to investors.
Roy along with scores of police and security guards was entering the Supreme Court building today when the lawyer threw black ink at him. The ink was splashed on his face and the man was later arrested, local media reports said.
Roy's Sahara conglomerate is well known in India because it is a co-owner of a Formula One team and sponsored the Indian national cricket team until recently.
India's securities regulator has accused Roy's group of raising nearly 200 billion rupees (US$3.2 billion) through bonds that were later found to be illegal.
Anger against Roy has been growing as millions of poor Indians lost their life savings after investing in the bonds. Sahara has sold investment products in rural areas.
Roy was arrested Friday after he missed an appearance at the Supreme Court for a hearing on an illegal Sahara investment scheme. He turned himself in to police.–AP/The Standard
   
Other Business breaking news:
Hang Seng, Shanghai rally (1 hr 1 min ago)
Red flags raised over Tianhe, WHO puts Sihuan on the spot (1 hr 4 mins ago)
Concerns over missed filings by Morgan Stanley fund stocks Tianhe Chemical and Sihuan Pharma (1 hr 6 mins ago)
(Autos) Lincoln Continental embraces its heritage (2 hrs 13 mins ago)
(Autos) Lincoln Continental offers patented driver’s seat (2 hrs 17 mins ago)
(Autos) Ford plans 20 more dealers for Lincoln Continental in China (2 hrs 23 mins ago)
(Autos) Lincoln Continental makes comeback (2 hrs 32 mins ago)
Hang Seng up by break (2 hrs 51 mins ago)
Prada HK and Macau sales tumble, earnings fall (2 hrs 59 mins ago)
Nikkei positive at break (03-30 10:44)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.