Consumer Issues
Mirach Capital preparing for legal action against Sahara

Mirach Capital said its officers have recognized the recent legal efforts by Sahara as further attempts at scrambling to buy an extension when none is needed

 

Continuing its war of words with Sahara, US-based Mirach Capital has said it is preparing legal action against the group over "breach of contract" and will submit an affidavit in India's Supreme Court to end the "unfounded, highly publicised defamation campaign."
 
In a statement, Mirach said it is preparing "legal action against Sahara over issues such as breach of contract, defamation of character, amongst other deal related problems."
 
In addition, the group is also preparing an official affidavit regarding the transaction with Sahara that will be sent to the apex court in India.
 
The Subrata Roy-led Sahara group has accused Mirach of "cheating and forgery" in the failed $2.05 billion loan arrangement and said it has initiated legal action against the US-based firm.
 
Mirach's Indian-origin CEO Saransh Sharma said "the allegations are frivolous, and are wasting time as the 20th February deadline approaches. A simple meta-data test and review of the evidence would dispel any notions of forged documents, prior to consuming the court's valuable time with a lawsuit."
 
"In an effort to end an unfounded, highly publicised defamation campaign, Mirach Capital Group is currently preparing an official Declaration of Facts Affidavit regarding the transaction with the Sahara Group, to be sent along with detailed evidence to the Supreme Court of India.
 
"Amidst allegations, Mirach's officers have recognized the recent legal efforts by Sahara as further attempts at scrambling to buy an extension when none is needed," the firm said.
 
Accusing Roy of indulging in "game-playing", Mirach said it is the "latest causality" of the group's stall tactics and its officers affirm their belief they should be given the first opportunity to close the transaction.
 
"Mirach further applauds the Supreme Court of India for its suggestion to explore a sale of Sahara's properties."
 
"While Sahara claims to have additional prospects to replace the loan offer, over 28 previous attempts have failed, with Mirach being the latest causality of stall tactics, blame-shifting, and prideful unwillingness."
 
"Yet and still, Mirach's investors stand ready, willing, and able to make a purchase of the assets should the court intervene," the company said.
 
Mirach Capital had offered to help in Sahara's efforts to secure release of its jailed chief. The Court had given time till 20th February for the Sahara-Mirach deal, but the deal fell apart after Bank of America came out with a disclosure that it was not involved in the deal as was being claimed.
 

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Railway Minister orders inquiry into derailment of Inter City Express

Three passengers were killed and more than 60 injured, some of them critically when the Bangalore-Ernakulam Inter City Express derailed near Anekal

 

Railway Minister Suresh Prabhu on Friday ordered an inquiry into the derailment of the Bangalore-Ernakulam Inter City Express and announced a compensation for the families of those killed in the mishap.
 
An inquiry into the mishap will be conducted by Commissioner (Railway Safety), he said.
 
"Unfortunate rail accident in Karnataka, Boulder fell on track in Ghat section, train hit it. Directed all senior officers to rush with full help," Prabhu tweeted.
 
Expressing grief over the mishap, the minister announced a compensation of Rs2 lakh for the families of the deceased.
 
While Rs50,000 would be given to those severely injured, Rs20,000 would be given to those who suffered simple injuries.
 
Prabhu has rushed to the site along with Railway Board Chairman.
 
Three passengers were killed and more than 60 injured, some of them critically when the Bangalore-Ernakulam Inter City Express derailed near Anekal.
 
Railway officials said about nine coaches have been derailed in the mishap that occurred between Anekal-Hosur on the Karnataka-Tamil Nadu border at around 7.40a.m.
 

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COMMENTS

vishal

2 years ago

It is reported in The Hindu ten people had died. Perhaps this is the first time action has been taken to help victims. But even then this should not become a routine affair. Railways are the back bone of our economic development and it should not allowed to derail due to accidents.

Narendra Doshi

2 years ago

Congrats to Railway Minister Mr. Suresh Prabhu for providing full details and assistance telephone nos. within less than an hour of the accident occurance, all in one place. Everything was under his control and supervision quite fast. Kudos sir.

Sunanda Pushkar's viscera sent to US; Tharoor quizzed by SIT

Tharoor’s interrogation came on a day when Sunanda’s viscera sample was sent to a FBI laboratory in the US for further probe

 

Shashi Tharoor, the member of Parliament (MP) from Congress was quizzed on Friday for nearly seven hours by the Special Investigation Team (SIT) of the Delhi Police. The probe spread over two rounds including for two hours late in the night was in connection with the mysterious death of his wife Sunanda Pushkar, during which he faced tough questions mainly on IPL controversy.
 
Tharoor’s interrogation came on a day when Sunanda’s viscera sample was sent to a Federal Bureau of Investigation (FBI) laboratory in the US for further probe. 
 
Sources also said a top senior police official, who is a member of the SIT, left for the US to give the sample of Sunanda’s viscera to the Federal Bureau of Investigation (FBI).
 
Police want to confirm whether the poison was radioactive isotopes, which cannot be detected in Indian labs, the sources said.
 
According to police sources, Tharoor sought a break in the questioning during the day on the ground he had to attend an event at the India Habitat Centre.
 
The questioning of Tharoor by a five-member SIT team took place at the Anti-Auto Theft Squad (AATS) office in Vasant Vihar in South Delhi.
 
Delhi Police had earlier examined the former Union minister on 19th January.
 
Tharoor was seen leaving with his lawyer after the questioning tonight.
 
A fourth round of questioning Tharoor may take place over the weekend because of certain contradictions in his statements, police sources said.
 
Tharoor’s domestic help Bajrangi and Narayan Singh, his common friend Sanjay Diwan, his PS Praveen Kumar and Rajat Mohan (cardiologist of Sir Ganga Ram Hospital) were questioned along with him earlier in the day. Besides, they were also separately quizzed.
 
Sources said the questioning of Tharoor was mainly focussed on the IPL controversy, which had broken out in early 2010 when he was minister of state for external affairs.
 
There were allegations that he had “misused” his office to ensure that Rs70 crore, which was equivalent to 19% equity in IPL Kochi franchise Rendezvous Sports, was paid to Sunanda, a charge denied by him.
 
The SIT team, headed by Deputy Commissioner of Police (DCP) Prem Nath and comprising Additional DCP P S Kushwaha and three senior officers asked Tharoor about his relations with Sunanda and some other aspects.
 
DCP Mangesh Kashyap from the Economic Offences Wing (EOW), who was also part of the team, asked some questions to Tharoor about the now defunct IPL Kochi franchise.
 
He was questioned about the circumstances in which Sunanda had left him at the airport after returning from Thiruvananthapuram to Delhi on 15th January last year and checked in to Leela Hotel, the sources said.
 
Police Commissioner BS Bassi said, “We called six witnesses in the second round of questioning into the case. The SIT confronted them and once again recorded their statements.”
 

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