Know about Sahara group and its chief Subrata Roy

New Delhi: The Sahara group's biggest claim to fame is that it was the official sponsor for Team India for the last decade.The group is a major promoter of sports in India, and is the main sponsor of Indian cricket team but last year it decided to terminate the deal after running into trouble with the BCCI when they scratched his IPL franchise team Pune Warriors. Sahara owned 42.5% stake in Force India Formula 1 Team and also sponsor the India national field hockey team.Sahara's finance business is the group's cash cow. Sahara India Financial Corporation Limited (SIFO) is a “residuary non-banking company“. SIFO is also the sponsor of Sahara Mutual Fund and the co-promoter of Sahara India Life Insurance Company Limited. Not much information is publicly available about SIFO other than information made available by the company itself.The Sahara group is lead by Subrata Roy whose official title is “Managing Worker and Chairman”.Born on June 10, 1948 Subrata was never a bright student. He started his business from a very small city and by the time he turned 34 he had already spread his business. Subrata Roy was always dogged by controversies. He founded Sahara India Pariwar in 1978 with a sum of only Rs. 2000, one office of 10 feet by 12 feet, two assistants and a vision that enabled Sahara India Group to grow into one of the major conglomerates of India, with assets having a market value of Rs. 1,09,224 crore (USD 23 billion). Under his dynamic leadership, the group has traversed its corporate journey over the last three decades and spread its wings across a wide range of business verticals.But not a lot is know about their business especially in the South India. None of the group's ventures are publicly acknowledged successes. In fact, several ventures other than the RNBC are believed to have accumulated huge losses over the years. The group sold its failed airline venture Sahara Airlines to Jet Airways. Despite this, the group finds spare cash to splurge on the sponsorship of the Indian cricket team as well as the humongous bid to acquire the Pune IPL team. The group was also in the news in a rumored bid to acquire Liverpool Football Club as well as its bid to become the main shirt sponsor of the Manchester United FC. The group's official website lists its various business interests as follows:a) Financeb) Infrastructure and Housingc) Media & Entertainmentd) Consumer Productse) Manufacturingf) Services & Trading The group has always tried to lend its name to social causes, patriotic causes and sporting ventures to build a image of trust amongst the Indian population. With Securities and Exchange Board of India and the Supreme Court cracking the whip on the group and its owner, the stage is now set for a big confrontation, with the group owner Subrata Roy in custody. The apex court ordered a non-bailable warrant against Subroto Roy when he failed to appear.

Know about Sahara group and its chief Subrata Roy

New Delhi: The Sahara group's biggest claim to fame is that it was the official sponsor for Team India for the last decade.The group is a major promoter of sports in India, and is the

Top News

Congress PM residence protest LIVE: Rahul, Priyanka taken to separate police stations post detention

Rahul Gandhi resists, lies on ground as cops remove him from protest outside PM's residence | VIDEO

Centre accuses Rahul Gandhi of U-turn as Congress remains firm on Dharmendra Pradhan's resignation

IRGC strikes Gulf targets in retaliation to US attacks; Iranian minister reaches Pakistan for talks