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| '''Sahara India Pariwar''' is an Indian ] headquartered in ], India with business interests in finance, infrastructure & housing, media & entertainment, consumer merchandise retail venture, manufacturing and information technology. The company has a ] of {{USD}}25.94 billion as of March 2011.<ref></ref> The group is a major promoter of sports in India and was<ref>{{cite web|url=http://www.espncricinfo.com/india/content/story/698615.html |title=India Cricket News: Sahara Group mulls sponsorship re-bid for Indian team |publisher=ESPN Cricinfo |date= |accessdate=2014-03-05}}</ref> the main sponsor of the ].{{when|date=March 2014}} The company owns a 42.5% stake in Formula One's ] and also sponsors ]. |
'''Sahara India Pariwar''' is an Indian ] headquartered in ], India with business interests in finance, infrastructure & housing, media & entertainment, consumer merchandise retail venture, manufacturing and information technology. The company has a ] of {{USD}}25.94 billion as of March 2011.<ref></ref> The group is a major promoter of sports in India and was<ref>{{cite web|url=http://www.espncricinfo.com/india/content/story/698615.html |title=India Cricket News: Sahara Group mulls sponsorship re-bid for Indian team |publisher=ESPN Cricinfo |date= |accessdate=2014-03-05}}</ref> the main sponsor of the ].{{when|date=March 2014}} The company owns a 42.5% stake in Formula One's ] and also sponsors ]. Sahara India Pariwar has paid the march salary to all staff except those in the para banking division of the company people. | ||
| ==Businesses== | ==Businesses== | ||
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| *Sahara India Pariwar’s Sahara Q Shop Entered into the ] when it opened record 315 outlets in 10 states of India, just at one time on 1 April 2013<ref name=deccan/> | *Sahara India Pariwar’s Sahara Q Shop Entered into the ] when it opened record 315 outlets in 10 states of India, just at one time on 1 April 2013<ref name=deccan/> | ||
| ==Controversy== | |||
| {{Main|Sahara India Pariwar - Investor fraud case}} | |||
| On 26 February 2014, the Supreme Court of India ordered the arrest of ] for failing to appear before it in connection with the Rs.24,000-crore deposits his company has not refunded to its investors. He was eventually arrested on 28 February 2014 by Uttar Pradesh police on ] Warrant, in a dispute with ].<ref>{{cite web|title=Subrata Roy Sahara surrenders before Police in Lucknow|url=http://news.biharprabha.com/2014/02/subrata-roy-sahara-surrenders-before-police-in-lucknow/|work=IANS|publisher=news.biharprabha.com|accessdate=28 February 2014}}</ref> In a statement after the arrest, his lawyer said Mr. Roy's 92-year-old mother was in poor health and needed "her eldest son" by her side, and hence he failed to appear at the court.<ref>{{cite web|last=Roy|first=Subrata|title=Profile of Subrata Roy|url=http://www.bbc.com/news/world-asia-india-26349549|work=Profile|publisher=BBC|accessdate=28 February 2014}}</ref> | |||
| He was granted interim bail by Supreme Court of India for the same on 26 march 2014 on condition of depositing Rs 10,000 crore with the market regulator Sebi. | |||
| <ref>{{cite web|title=SC grants conditional bail to Sahara chief Subrata Roy|url=http://timesofindia.indiatimes.com/india/SC-grants-conditional-bail-to-Sahara-chief-Subrata-Roy/articleshow/32719977.cms|publisher=http://timesofindia.indiatimes.com/|accessdate=26 March 2014}}</ref> | |||
| ==References== | ==References== | ||
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| File:Saharindialogo.svg | |
| Company type | Privately held company |
|---|---|
| Industry | Conglomerate |
| Founded | 1978 (Gorakhpur, India) |
| Founder | Subrata Roy Sahara |
| Headquarters | Lucknow, India |
| Area served | India |
| Key people | Subrata Roy Sahara (Chairman) |
| Products | Financial services Construction Mass media Retailing IT Services & Outsourcing |
| Revenue | ₹730 billion (2011) |
| Website | www |
Sahara India Pariwar is an Indian conglomerate headquartered in Lucknow, India with business interests in finance, infrastructure & housing, media & entertainment, consumer merchandise retail venture, manufacturing and information technology. The company has a market capitalisation of US$25.94 billion as of March 2011. The group is a major promoter of sports in India and was the main sponsor of the India national cricket team. The company owns a 42.5% stake in Formula One's Force India Formula 1 Team and also sponsors India national field hockey team. Sahara India Pariwar has paid the march salary to all staff except those in the para banking division of the company people.
Businesses
Sahara India Pariwar was founded by Subrata Roy.
Real Estate
Sahara India Real Estate Company and the Sahara Housing Investment Corporation, subsidiaries of the conglomerate, buy and develop land for residential housing projects across India. The company has projects in Kanpur, Lucknow, Gorakhpur, Hyderabad, Bhopal, Kochi, Gurgaon and Pune. Sahara has a collaboration with Turner Construction, an American building company, in some of its projects.
Sports
Sahara owns several professional sports teams in India in a variety of sports. In badminton, it owns the Awadhe Warriors of Lucknow, one of six teams in the Indian Badminton League'. In cricket, it owned the Pune Warriors India, a franchise team that played in the Indian Premier League (IPL),. Sahara owns the Formula One team Sahara Force India.
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The company launched a polo team, the Sahara Warriors Polo Team in 2012. In July 2012, Sahara India Praiser picked up the Lucknow franchise of the Hockey India League (HIL), the Uttar Pradesh Wizards. It is also the sponsor of the Bangladesh Cricket Team since 2012.
Media and entertainment
The group owns a national Hindi News Channel Samay and 36 city specific regional news channels Sahara Samay. It also owns Sahara One- A General entertainment channel, Filmy- A Hindi movie channel, and Firangi- An entertainment channel. Sahara Samay received the "Broadcast Engineering Excellence Award" in 2008 for its network newsroom technology.
The group owns publishes and sells one magazine in English, 7 editions of Hindi Daily Newspaper Rashtriya Sahara, nine editions of Urdu Daily Newspaper Roznama Rashtriya Sahara and one International Urdu Weekly, Aalmi Sahara.
Sahara produces, markets, and distributes Hindi and other regional language films. Well known films produced by the company include Bewafaa, Page 3, Sarkar, No Entry, Wanted. In September 2010, the company was in talks to acquire MGM Studios, but the deal collapsed. Sahara is willing to try again to take over MGM.
Hotels
Sahara owns a controlling stakes in New York's Plaza Hotel and London's Grosvenor House Hotel.
In India, the group owns the "Sahara Star" hotel near Mumbai's Chhatrapati Shivaji International Airport.
Finance
Sahara has interests in insurance and asset management. Sahara India Life Insurance Company Ltd. (SILICL), is a Life Insurance Company in the private sector. Sahara Asset Management Company Pvt. Ltd. manages 16 equity and debt Mutual Funds. Sahara Banking & Financial Services Fund has been adjudged the Best Performing Banking Sector Fund over a 3-year Performance by the International Agency "Lippers".
Other financial activities associated with the company have come under significant legal scrutiny, including a savings program with the stated intention of selling savings products to the poor, which government officials claim may be exploiting it's customers.
Retail
On 13 August 2012, Sahara India announced the opening of their retail FMCG business named 'Q shop' (Quality shop) with an initial investment of Rs. 30 billion. Sahara also announced the hire of 600,000 sales personnel and 3000 customer care executives. At its launch, Subrata Roy said that Sahara had been planning for this venture for the last two years and was opening 'Q shops' in major cities across the country to provide adulteration-free consumer merchandise including processed food and beverages to buyers. The group said it would set up 305 warehouses in 285 cities in a phased manner.
Sahara India Pariwar’s Sahara Q Shop Entered into the Guinness World Records when it opened record 315 outlets in 10 states of India, just at one time on 1 April 2013
Power
Sahara Power has signed Memorandum of Understanding (MOU) with the Government of Orissa for setting up a 1320 MW (2 x 660) Coal Based Thermal Power Plant in Turla Tehsil of Balangir District, Orissa at an investment of about Rs. 56.04 billion. Sahara India Power Corporation Limited has also proposed to set up a 2000 MW Coal based power plants in Jharkhand and Chhattisgarh at an estimated investment of Rs. 80 billion. each.
Health care
The group owns a hospital in Lucknow. The hospital was opened in 2009. This hospital got operational in February 2009 and is currently operating with approximately 350 beds, including 120 bed Critical Care Infrastructure and expandable to 554 beds.
Other Businesses
Under the name "Sahara Next", the company offers Information Technology consulting services in banking, finance, media and entertainment, chemicals and CRM.
The group owned an airline, Air Sahara, which it sold to Jet Airways in 2007. Under the name "Sahara Global", it offers integrated travel and tourism services for domestic as well as international customers.
The group runs a school in Pune, the International School Amby – Amby Valley, and the Sahara College of Nursing & Paramedical Sciences in Lucknow.
Charitable work
The Sahara Welfare Foundation, the social development unit of Sahara India Pariwar, runs social welfare projects. The company assisted the families of Indian soldiers killed in the Kargil war with a commitment of 500 million (USD 10.65 million ) The company also assisted families whose homes were damaged in the 2006 Gujarat earthquake. Other welfare activities include water purification systems and education resource systems in Indian villages.
Humanitarian efforts
In 2013, Sahara contributed to the relief efforts in flood hit Uttarakhand region wherein one lakh bottles of drinking water, juice bottles and food packets along with candles and match boxes were said to provided by them. There were 25 medical health unit vans equipped with doctors and free medicines made available and It was said by the group that, they will contribute to the rehabilitation programme by constructing 10,000 pre-fabricated houses.
Guinness World records
- Sahara holds the record for the most people singing a national anthem simultaneously. 121,653 employees of the company sang India' national anthem on 8 May 2013 in Lucknow, India.
- Sahara India Pariwar’s Sahara Q Shop Entered into the Guinness World Records when it opened record 315 outlets in 10 states of India, just at one time on 1 April 2013
References
- http://www.ndtv.com/video/player/your-call/your-call-with-subrata-roy-sahara/232196
- Financial Statement of the Group
- "India Cricket News: Sahara Group mulls sponsorship re-bid for Indian team". ESPN Cricinfo. Retrieved 5 March 2014.
- "Owner of Pune Warriors runs Sahara India Pariwar as managing worker". THE AUSTRALIAN. 6 May 2010. Retrieved 12 September 2011.
- "Subrata Roy Sahara". Bloomberg BusinessWeek. Retrieved 12 September 2011.
- Sahara Group enters real estate, The Economic Times, 5 February 2008
- THE GOOD LIFE, INDIA TODAY, 15 February 2008
- Sahara launches construction JV with Turner, rel="nofollow",REUTERS, 9 February 2012
- Sahara buys IBL's Lucknow franchise, The Times of India, 16 July 2013
- 2 New IPL Team, The Times of India, 22 March 2010
- "Sahara Group takes 42.5% stake in Force India Formula One team". The Guardian. The Guardian. 12 October 2011. Retrieved 12 October 2011.
- "Sahara buys 42% stake in Mallya's Force India F1 team". The Times of India. The Times Group. 12 October 2011. Retrieved 12 October 2011.
- "Sahara India Pariwar launches Polo team Sahara Warriors". 22November2012.
{{cite news}}: Check date values in:|date=(help) - "Sahara to own hockey franchise". 24 July 2012.
- "Sahara set to become Bangladesh sponsor". IBNLive. 30 May 2012. Retrieved 24 February 2014.
- Samay bags international honour, The Economic Times, 6 April 2005
- Sahara plans three weekly newspapers, Rediff.com, 1 February 2003
- Sahara One Motion Pictures – a banner in the right direction, IndiaGlitz.com,5 September 2006
- Indian Congolomerate In Talks About MGM Bid, Reuters, 18 September 2010
- Sahara Says MGM Studio Creditors Reject $2 Billion Bid, Google, 24 September 2010
- Sahara Still Committed to Finalizing MGM Bid, The Hollywood Reporter, 29 September 2010
- "Sahara checks into iconic New York hotel". Hindustan Times. 31 July 2012. Retrieved 30 September 2012.
- Sahara buys UK hotel for Rs 3,275cr, The Times of India, 31 December 2010
- India Shadow Banker Fights to Keep Empire Built on Poor, "Bloomberg.com", 2 December 2013
- Sahara enters retail, to launch 800 'Q' Shops, Business Today, 16 August 2012
- Sahara in Rs. 3,000-cr ‘Q Shop’ retail foray, Hindustan Times, 13 August 2012
- ^ Sahara Q shop makes it to the Guinness World Records, Deccan Chronical, 17 April 2013
- Nawabi Entry in Healthcare, Express Healthcare, 1 April 2009
- Sahara Global launches travel show
- Sahara Global launches 'Celebrate Life'
- Sahara to put in Rs1000 crore in welfare foundation, DNA, 5 February 2012
- Sahara Welfare Foundation, Sahara India
- , Sahara Welfare Foundation
- Sahara to pay martyrs' families 5 times salary for 10 yrs , The Indian Express
- Sahara will pay salaries of Mumbai martyrs , The Economic Times
- Sahara to pay martyrs' families , DNA
- Sahara India to adopt 1,000 villages for all round development , The Economic Times, 10 June 2013
- flags off prog to adopt 1,000 villages, The Economic Times, 12 June 2013
- Subrata Roy Sahara Announced to Adopt 1000 Villages in 7 States Under CSR , India CSR, 1 April 2013
- "Sahara joins Uttarakhand relief work - The Times of India". Timesofindia.indiatimes.com. Retrieved 5 March 2014.
- Sahara's national anthem feat gets Guinness honour, The Times of India, 7 May 2013
External links
Template:Major Indian companies
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