Monday, 1 February 2016

Subrata Roy pens his first book 'Life Mantras'

With immense pride and honor, Sahara India Pariwar is all set to launch the first book of the trilogy penned by honorable Saharsri from Tihar Jail.




The first of the trilogy of books written by Saharasri Sri Subrata Roy Sahara from Tihar Jail will be launched today, on the occasion of the 39th Foundation Day of Sahara India Pariwar.

The other two books of the trilogy ‘Think with Me’ How to make our country ideal and ‘Reflections from Tihar’Observations in Tihar Jail will be released in quick succession.

The books have been published by Rupa Publications, India. The organization is celebrating 39th Foundation Day today, 1st February.

Saharasri writing a touching message for his readers says, “After having gone through the book, you will definitely and convincingly realize that to achieve peace, true happiness, contentment, satisfaction and also to attain continuous progress in life in terms of material gains, respect and love, you need not depend on anybody in this world. It all depends on you. It is all in your hands.”

Wednesday, 10 June 2015

“Saharasri” – An Inspiration to many celebrates another birthday


Hon'ble Saharasri has inspired thousands of people to dream higher, so his birthday is marked as “Prerna Diwas” and celebrated by people who believe in his philosophy. Today, on this auspicious occasion we want to wish Subrata Roy a very Happy Birthday.

Subrata Roy is one among the top 10 most powerful businessman India can ever have. He is the founder and chairman of the famous Sahara India and has achieved more than fifteen awards for being the best Industrialist.

On 10th June, 1948, Subrata Roy was born in the district of Araria, Bihar. He was a very bright child, he also holds a diploma in Mechanical Engineering. Before he founded Sahara, he had already gathered 32 years of precious experience in business development along with 18 years of experience in real estate business. 

He opened his first office in Gorakhpur, which consisted of a table and two chairs along with a staff of one clerk and a runner boy. Initially he single headedly took up the business of Deposits and Para banking. But his life took a new turn in 1990s when he moved to Lucknow and set his business empire which is now over Rs.50, 000 crore. From there, it went on to become the largest conglomerate of India with a diversified range of business interests.

Apart from his business skills, he is also a humanitarian, he contributed to the relief efforts in flood hit Uttarakhand region by providing them the basic amenities along with free medical facility. He always believed in creating a family rather than a company. Which he did successfully, in a span of just 29 years, Sahara India has seen enormous growth as Roy was the driving force behind this success.


Thursday, 12 February 2015

Sahara to take legal action against Mirach


Sahara India Pariwar went on the offensive on Thursday accusing Mirach Capital of cheating and forgery in the failed $2.05-billion loan arrangement.

As reported earlier by Mail Today, it has now initiated legal action against the US-based firm and is now working on a new deal to raise funds to secure bail for its chief Subrata Roy.

The crisis-hit group alleged that Mirach and its CEO Saransh Sharma's criminal conduct and lack of financial capabilities to honour such huge commitments led to the breaking down of its deal, leading to precious loss of time, resources and position of Sahara.

"... Sahara is now taking legal action, both of civil and criminal nature, against such gross criminal conduct of MCG (Mirach Capital Group) and their officers, both in India as well as in the US," a Sahara spokesperson said.

He said that an FIR has already been filed in this regard, while adding that the group is now working on another deal and Sahara will comply the order (of the Supreme Court) very soon.

Mirach had on Wednesday formally called off its $2.05-billion loan financing for Sahara and said it has returned the entire due diligence fees of $2.625 million to them. It also accused Sahara of being an unwilling seller for the three overseas properties - The Plaza and Dream Downtown in New York and the Grosvenor House in London.

Shockingly, on January 9, Sharma along with a woman officer was also present in the Supreme Court when Sahara's counsel presented the said letter purportedly issued by Bank of America, based on which the apex court approved the transaction and permitted Sahara to apply to the Reserve Bank of India (RBI) for getting inward remittance in India.

Later on, Bank of America branch manager Nuno Marques informed through his e-mail dated January 31, 2015 that the said letter purportedly issued by him was neither issued nor signed by him. Hence, the letter turned out to be forged.

Subsequently, Sahara sent its officer to the US to confirm the veracity of Bank of America's letter and on February 2 filed an affidavit in the Supreme Court, informing it about these disturbing developments.

Meanwhile, upon inquiry, the Sahara officer confirmed that the Bank of America's letter was a fake, not issued or signed by the branch manager concerned. Thereafter, Sahara confronted Saransh, who was not been able to confirm the veracity of the said BOA letter.

Sunday, 7 December 2014

Sahara's response to DNA report and our counter response

This is with reference to the article'Cronyism,nepotism, conceit to Subrata Roy's fall' written by Mr Deepak Gidwani and published on the front page of your esteemed publication, dna, on December 1, 2014. We have serious objections to the article. The article does not have any news, but is only the biased, concocted and prejudicial view of Mr Deepak Gidwani, an ex-employee of Sahara Group, embodying his personal grudge against Sahara, disguised in the form of a media report. The words used in the headline like "cronyism", "nepotism" as well as other adjectives, used in context of Saharasree throughout the article, are highly derogatory and sarcastic in nature and seek to malign the reputation of the entire organisation and its Managing Worker & Chairman. The reporter selectively quotes unknown and undisclosed sources in his effort to harm the image of the organisation. A quote of an alleged and anonymous employee has been extrapolated as the sentiments of more than 12 lakh workers of Sahara, which in every aspect, even statistically, is amusing. The article quotes an anonymous 'CA', whose remarks are highly immature. It's a common practice among businessmen around the world to name their companies after them, while Saharasree has added his company's name – Sahara — to his name. Can this be called hubris? Harvard Business School recognises his philosophy of 'collective materialism' and looks up to him as a corporate visionary. This premier business school has invited him to give lessons and motivate the students of business and public policy on life and man-management as crucial to success in a business enterprise. Mr Roy has also been awarded an Honorary Doctorate of Business from University of East London (UEL) for his contribution to business, sport, education and social and community development. Can this be termed nepotism, cronyism, incompetency or unprofessionalism? The group, which started with mere Rs2,000 and 3 people, is now a conglomerate of $16 billion with a workforce of more than 1.2 million. It could not have achieved such a growth on the whims and fancies of an individual.
— Abhijit Sarkar, Corporate Communications Head, Sahara Group
Our correspondent's reply:
I wish to assert that I completely stand by my story, and that it is in no way biased or driven by any kind of vendetta. I left Sahara in 2003 and to allege that I have waited for 11 long years to write such a piece without occasion or news value is rather far-fetched. My write-up is just a dispassionate commentary on an organisation I have seen at close quarters from the inside. I have a track record of 27 years in this profession, and most of it was with leading media groups.
Last but not the least, I spoke with you (Abhijit Sarkar) and told you about the story that I was planning to do and I also asked for your version of it. Your staff asked me to mail the queries, which I did, but never got a reply despite my persistent follow-up over three days before I submitted the story. My facts are source-based, and I must hasten to add here that my report is not intended to malign anyone.

— Deepak Gidwani

Wednesday, 5 November 2014

Captain Dhoni and Firstpost.com: The story of Puppies aspiring to chase Elephant

Firstpost.com’s Tariq Engineer written article – ‘MS Dhoni should have thought twice about doing business with Sahara’ published by the website bellies an overbearing. The website a waterhole for many of self proclaimed intellectuals like me, though has always been highly opinionated, bigot, and sometimes hopelessly lopsided; still had some window of interactivity which probably with Reliance at its new and seemingly imposing masters has been eliminated.

The article instigated me to write my comments on the article and its author’s obtuseness but found that the comment section has been closed and even if you want to write something it is now moderated – meaning guarded. With this I feel the website stops to breath for the very soul for which it was created – free opinions and sometimes news sharing. The surfeit publishing of Reliance industries every feats to a level of looking like an internal journal says the rest.

Leaving this here, and going back to quench my thirst of sharing my views on this article, I have now decided to steed on a arduous journey to sustain with, called blogging. I promise that I will be more often on the blog with something interesting to share.

To start with everyone had his/her likes and dislikes. R Jagganathan, who was the editor of the firstpost.com and now (due to and in order to serve the masters will) is Editor-in-Chief of the entire Network 18 & TV18 Media Empire of Mukesh Ambani, is fetish for pushing down people’s throats his likes and dislikes for select individuals. R Jagganathan or ‘Jag’ is Bombay University – Economics graduate, who though have spent much time in media and in the profession of journalism, but personally, if you know him, he has imbibed little from it. He always had these dogmatic biases, which amusingly changes with on which square of the checkerboard he is standing or rather placed on.

One anecdote of this warrior of pen will elucidate what I mean. Indrajit Gupta, Editor of Forbes India (a Media 18 publication) was shunted out for not obliging the demands of ‘You Know Who’, First Post was merged with Forbes India into one entity and Jag parental guidance extended to Forbes India. The records say that on February 2013, R Jagannathan began the series of meetings as part of the planned integration process of Forbes India – “Glancing at a sheet of paper he had arrived with, Jagannathan yelled: ‘You’re doing it wrong. Forbes is about the wealthy. It’s about right-wing politics. You guys are writing about development and poverty. If you guys don’t get it, I’m going to make sure that you do.” This explains about the square of the chess-board on which Jag was sitting. Only things left inconspicuously implicit by Jag was that he was not talking about ‘all’ wealthy and powerful people who should be promoted in his publications but only a set of preselected ones. Rest should be poked to balance the imagery of the media house.

The willy band of journalist writing for Firstpost.com (who like Big Boss contestants, if ever blinked on the fame horizon but are surely dwindling in the light of their own ego, have a bearing that they are Bhachchans of their field; hence should be respected and revered) tow the Jag commandments which comes with the appended hate and love list. The commandments have become holier with Jagganathan growing with his daunting faithfulness from a little tommy to the bull of security of the house of ‘M’ for Media (You know Who).

Tariq Engineer, who was Jag’s deputy, is one such star journalist with ‘shorter than an over’ stints each with plethora of sports websites or as a stooge for editorial policy heavy foreign media outlets in India. All his assignments were of sports and with no worth mentioning experience of either Business, finance or legal beat in journalism.

Though the sketch of these two gentlemen may look harsh and Jagganathian, but in fact is the true slant and inclination of their intellectual trajectory, which I thought is important to mention so that one can understand the mind behind the fingers typing the mentioned article. It is true that the article has annoyed me not much that it was against Dhoni or Sahara but the sheer lack of knowledge and sense that these fingers have portrayed.

Hockey is the national game of India, we all know, like we know not very far back, the sport was in abysmal condition. When in Delhi people have seen the stars of the national sport hurdled into DTDC busses and lodged in dingy hotels near Delhi railway station. Those were the discouraging days of Hockey. The benign eye of the proclaimed prime supporter of Sports in India, Subrata Roy Sahara changed it all for hockey like he did for other sports. Foreign trainings, attractive incentives and with efforts of Dr Narender Batra, seed promoted Hockey India League. All as a CSR effort as claimed by Sahara, Dhoni’s ‘Ranchi Rays’ franchisee is one of such moves to bring eyeballs to this league and hockey in India. It might not get a high of IPL level but will certainly help in raising the profile of Hockey League in a league frenzied Indian sports market. Reliance who is promoting Indian Soccer League is also in the race of League mania and which could be a reason of this ‘Jagganathian’ punch.

As for Sahara’s battle with market regulator, it would be safe to say that Tariq Engineer or Jagganathan are the least equipped people to comment on it leave alone flinging their opinion. The complex issue marred with policy flip-flops, adamant stands, and judicial interloping needs in-depth understanding and scrutiny of financial milieu and legal knowledge to start with. The study of the matter does not castigate Sahara of any wrongdoing but in fact is a matter of affording SEBI with powers to those territories, which were earlier, dealt with by Ministry of Corporate Affairs. Even this debate swings between correctness Integration and over powering SEBI or over burdening SEBI beyond its statutory powers.

Even the incarceration of Roy is a matter of debate among the jurists. Without cause, charges or conviction how anyone can be put in jail is a matter, which can have, lasting effects on the legal fabric of the country. The almost eight months of Roy’s detention were also the uneasy period for Indian jurisprudence. If precedents were drawn (which is already mandated under the Indian Constitution) then jails will see more people who will not even know why they are in jail but still will be languishing in it.

Beyond this, to what anyone will vouch for is that Sahara is still a big conglomerate and enjoys a good reputation with its investors, customers, employees or associates having no complaints to make even in these testing times of the group and its Chairman. Media reports place these stakeholders in the tune of billions and millions. Jagganathians should at least consider this fact before the rant.
As for Dhoni, who recently ascended to the position of the most liked Sportsmen of India, the stint of the most successful Captain of India ever with world cup trophies standing as witnesses for it, need no testimony from unscrupulous nonstarters like Tariq Engineer or people with blinkers of vested interest like Jagganathan. At the end, for Dhoni I would like to invoke Martin Luther King – Junior’s words that – “In the end new will remember not remember the words of our enemies, but the silence of our friends.”

Captain MS Dhoni is morally, logically and also business wise in good company, by all means.

Firstpost does it again

And by it I mean Firstpost goes ahead and goofs up again. The site can be best described as a place where you will find opinionated rants by lesser known internet figures. The people behind these opinion based articles are biased and would only like to force their warped ideas and views on their readers. It’s the readers I pity most rather than the site and its writers though, because they come to this site hoping to read information-filled and thought-evoking articles but end up getting sucked into petty politic games between the shareholders of the site.

Firstpost recently posted a baseless and senseless article about Dhoni going into business with Sahara. First of all, if Dhoni bought a professional hockey team that is a good thing. We need more people in India who will support our national game and if that support comes from a stellar sportsperson like Dhoni, that’s all the better. The article brushes away this important piece of news simply saying that this feat by Dhoni ‘wouldn’t merit more than a passing mention.’ Seriously? Why would Dhoni buying a hockey not merit more than a passing mention?


Isn’t Tariq Engineer patriotic? Does he not feel that Hockey and Dhoni coming together is a big deal? But instead he talks about Sahara. Why must he concentrate on the negative when there is so much positive to write? It truly is troubling that propagandists like Mr. Engineer are allowed to write and influence the masses. 

Firstpost – Crushing ideas and making biased ones

The about us section of Firstpost.com says that it ‘will serve as a trusted guide to the crush of news and ideas around you.’ Does crushing news and ideas mean that Firstpost will push its own biased ideas on the audience?

Case in point is the article by Firstpost about MS Dhoni doing business with Sahara. Not only is this article extremely biased, it also digs up irrelevant information with the sole idea which is to damage the reputation if Sahara. Discussing a legal case in the article when the crux of the article was Dhoni buying a professional hockey team in India is quite honestly beyond understanding. It all seems like propaganda by unruly elements that would leave no stone unturned to show Sahara in bad light.

This article predictably talks about the legal case Sahara is involved in making sure to highlight the courts statement which was recorded in 2010. If this isn’t clear indication that Firstpost is deliberately trying to paint a dark picture about Sahara and sway public opinion against the company then I don’t know what is.

In my opinion, (because isn’t that what Firstpost has done? Propagate an opinion and valid news.) Sahara must sue Firstpost for defamation. And while they are at it, they must also sue Tariq Engineer the genius behind this baseless article.