PRCI awarded Shri Abhijit Sarkar with the coveted Chanakya Jury’s Special Award 2015

 Public Relations Council of India (PRCI), the ace body of Communications and PR professionals awarded Shri Abhijit Sarkar, Head – Corporate Communications & Director-Sahara Adventure Sports Limited, Sahara India Pariwar, with the coveted Chanakya Jury’s Special Award 2015 for his exemplary work in the field of Sports Communications. Shri JualOram, Union Minister of Tribal Affairs, Govt. of India presented the award to Shri Abhijit Sarkar, in a glittering ceremony held at New Delhi on 13^th March, 2015.

 This award is an eloquent manifestation of the fact that Shri Abhijit Sarkar, is probably the only sports management expert in the country who has so effectively contributed to sports in India, across the board. His exceptional efforts in bringing together Corporate for promoting sports in India from regional, national and international level not only took sports like cricket to greater heights but also brought excellence in those sports which are less popular and require infrastructural and financial support and there is hardly any sport left in the country where his efforts and encouragement have not been recognized. His outstanding contribution to Indian sports is also evident from the fact that he is the Co-Chairman of FICCI Sports Committee for the past two years and also a member of the prestigious Sports Committee of CII for last three years. He has also been the Convener of Publicity & Media Sub Committee of the XIX Commonwealth Games, 2010.

 For his contribution in the field of Sports and Corporate Communication in general and Public Relations in specific, he has been awarded with the ‘Most Dynamic Corporate Communications Professional of the Year’ in the Power brands Hall of Fame Awards in London 2011. He has also been conferred with Indy’s Excellence Award 2008 in the field of Corporate Communications, Crises Management and PR and ‘Communicator of the Year” award 2011 by IPRCCA, ‘Chanakya Corporate Communication Professional of the Year’ by Public Relations Council of India.

 Additionally, Mr. Sarkar’s unparalleled expertise and leadership in the field of sports have also accorded him vital positions in various sports bodies. He is Director - Sahara Adventure Sports Limited, Director – Sahara Force India (India’s only Formula One team), Director – U.P. Wizards (U.P. Franchise team of Hockey India League), Director – Ranchi Rays (Ranchi Franchise team of Hockey India League), Director – Awadhe Warriors (Lucknow Franchise team of Indian Badminton League), and Director – Sahara Warriors (Sahara’s Polo team). His charm and dignity made him a personal favorite of nearly all the eminent sportspersons who always consider him as their indispensable support.

It was in consideration of his deep understanding of the nuances of media and sports, vast experience and expertise in the area of communications and Sports Management that he was appointed as a Convener – Publicity & Media Sub Committee of the XIX Commonwealth Games, 2010. For the same, Sahara eventually received Gold Award under the category of ‘Public Service Campaign’ by the Public Relation Council of India in 2011.

Mr. Abhijit Sarkar has played pivotal role in cementing Sahara’s inseparable association with Sports, for the past 15 years, whether it is the Sahara Cup in Canada, Sponsorship of the Indian Cricket Team for 14 years, Indian Hockey Team, Indian Women Cricket team, Indian Volley ball team or playing a pivotal role in Sahara’s association with Hockey, Boxing, Wrestling, Archery, Shooting, Football, Golf, Polo, and other sports disciplines. Besides, being the most visible face of Corporate Communications professionals in India, he also happens to be one of the tremendously successful in taking Indian sports to the next level. Under Mr. Sarkar’s visionary guidance Sahara is supporting 73 Sports person out of which 5 had won medals in London Olympics 2012.

 Having bestowed upon with multitudinous tasks in running Sahara’s IPL Pune franchisee – Pune Warriors India, as director Mr. Sarkar lead the IPL team for three consecutive years and played a decisive role in getting the coveted franchisee for Sahara.

Moreover, Mr. Sarkar has been instrumental in developing and executing various well acclaimed international and national events like Sahara India Sports Awards (SISA) – the one-of-its-kind platform to honor the sporting legends. The ‘Sahara India Sports Award’ won Silver Award under the category of ‘Corporate Event’ by the Public Relation Council of India, 2011.

Since the early days to the present day, Sahara’s association with Indian Cricket has traveled a long journey of significant milestones that deserved to be chronicled. The story of the rise of Indian Cricket team as a cricketing super power during the course of Sahara India Pariwar’s long association not only needs to be told but also preserved for the future generation of the cricket lovers.

 In the same context, Mr. Sarkar came with a up concept of preparing a Coffee Table Book, ‘The Golden Era’, which is a sumptuous tribute to Cricket and commemorates Sahara’s glorious association with Indian cricket in a form of book that spans from Natwest Trophy win in 2002 which is considered a turning point in Indian cricket after, of course, the 1983 World Cup triumph to India’s recent home series against South Africa. The book has number of sections with brief bios on each of the recent great cricketers. The book was conceptualized, ideated and produced under the guidance of Mr. Abhijit Sarkar.

In addition to this, he was instrumental in bagging the coveted franchisee of Uttar Pradesh in 2012 for the Hockey India League. Spearheading the U.P. Franchisee, he added another feather in his cap by adding another franchisee, Ranchi Rays in 2014, in the Hockey India League, which Sahara co-owns with cricketing legend, M.S. Dhoni.

 Besides, he played a major role when Sahara announced its co-ownership in India’s only formula One Team with Dr. Vijay Mallya. Not only India, he expanded the horizon of Sahara’s association with sports beyond a nation, when Sahara bagged the official sponsorship of Bangladesh Cricket team in 2012.

Press Note from Sahara’s Lawyer Shri Gautam Awasthi

Rupees 40,000 Crores dues issue is wild imagination of media

Sahara’s Rs. 12,000 Crores are already with SEBI

1. Sahara says that report of Due amount of Rs 40,000 Cr is incorrect, since such amount or such observation was never made during the course of hearing either by the Counsel appearing for SEBI or by the Hon’ble Court or any other Counsel. The figure of Rs. 40000 Cr. is imaginary and same amounts to irresponsible reporting of Court proceedings. There is no pleading or any document in the Court record which mentioned the figure of Rs. 40000 Cr. The order dictated in the open Court on 13.03.2015 also does not bear this figure and therefore, these amounts to incorrect reporting of Court proceedings which further dented the image of Mr. Roy and two directors in the public eye.

2.In fact, the Court very fairly stated that amount payable was subject to verification and after verification all excess amount would be refunded Back to Sahara.

3.There is no observation pertaining to the reporting of one month to save group by the Hon’ble Court, same is misconceived.

As a matter of fact, the Hon’ble Court observed during the proceeding to Mr. Kapil Sibal, Senior Advocate that the outhouse facility along with secretarial staff etc. can be extended even up to “two months” provided a concrete proposal is put forward as far as the satisfaction of the bail bond of rest of the amount of about 6000 Cr. is concerned. Please note that Sahara’s two companies are asked to provide proposal for complying with the remaining amount out of bail amount of Rs. 5,000 Cr cash and Rs. 5,000 Cr. as bank guarantee and not for any imagery figure of Rs. 40,000 Cr. The period of 2 month was observed by the Hon’ble Court when Mr. Sibal requested for 8 weeks outhouse facility to finalize the transaction to satisfy the bail bond amount of Rs. 10,000 Cr. as ordered by the Hon’ble Court on 26.03.2014.

Therefore, the figure of 4 weeks as reported in the article is incorrect since Mr. Sibal sought 8 weeks’ time and not 4 weeks. Same is clarified to that extent.

4.The news represented that an ultimatum was given whereas the order passed by the Hon’ble Court makes it clear that the Hon’ble Court accepted the request of not appointing a Receiver since Mr. Sibal stated that a serious attempt has been made for finalizing a deal of which the documents will be provided to the Amicus Curiae and the Counsel for SEBI. This acceptance of the request was also noted in the order dated 13.03.2015. As a matter of fact, Mr. Sibal stated that the situation of appointment of a Receiver may not arise if an opportunity is given. There is nothing mentioned in the order passed on 13.03.2015 about any ultimatum and therefore same amounts to incorrect reporting and same is clarified to that extent.

5.The Hon’ble Court extended the facility of communication up to 5 hours a day to Mr. Roy and two directors of Sahara’s two companies, inside the jail premises which was not reported in the article. Further, jail authorities were also directed to facilitate Mr. Roy and two directors with two laptops for functioning which was also not reported in the article.

6.During the hearing, SEBI was directed to file an affidavit clarifying its stand when a letter was indicated to the Hon’ble Court by Mr. Sibal that a communication was issued to HDFC Bank by SEBI on 19.12.2013 that the order dated 21.11.2013 only applies to specific movable and immovable properties in a particular application, therefore, RBI has no cause of action to state that there was a violation by Sahara India Financial Corporation Limited of the order passed by the Hon’ble Supreme Court on 21.11.2013 and 04.06.2014.

7.Further, Mr. Sibal fairly stated during hearing that about Rs. 12,000 Cr. stands deposited with SEBI as on date out of which barely anything was disbursed by SEBI. The Hon’ble Court also made it clear that it will be open to argue on that issue at a later stage. However, the article in the front page of the newspaper reported that only Rs. 5,120 Cr. was deposited whereas nearly Rs. 12,000 Cr. stands deposited with SEBI as on date. Same is clarified to that extent.

Sahara Employees' Salaries Overdue Following Liquidity Crunch

Sahara's conflict with Sebi over investor repayments has begun to effect salaries of the group's employees, which are getting overdue because of a major liquidity crunch. Majorly corporate offices of the crisis-hit group are facing salary delays. Even day-to-day petty operating expenses and statutory payments are getting due. A Sahara spokesperson said "We are working to diffuse this crisis, which has also created grave difficulties for our employees. Sahara India is one big Pariwar (family) and all the employees are its members, who are standing together in these difficult times." The company has a total of 10 lakh employees, which include permanent and part time employees and agents. An exact number of salaries overdue was hard to summate but it has been estimated to go up to "tens of thousands".

Sahara is also working hard to raise money for getting its chief, Subrata Roy, and two of its officials released from imprisonment from Tihar jail, where they have been for an year now. The spokesperson said that Sahara is facing liquidity crunch for a year now due to restriction and double payment of investor refund. This has led to delays in salaries and other operating obligations and expenses. He added, "We are however releasing the salaries time to time based on the fund flow on a continuous basis. The delayed salaries of junior staff were released just a few days back as extra care has been taken for our junior staff. Soon salaries of other brackets will be released." He also said that the companies which have their own fund-flow are in a better situation to pay salaries without much delay. These include their luxury hotel Sahara Star in Mumbai, resort town Aamby Valley City and the 500-bed tertiary care Sahara Hospital in Lucknow.

Sahara still maintains that it has repaid more than 95 percent of its investors directly. But the group was asked by the Supreme Court in August 2011 to deposit over Rs 24,000 crore with Sebi for refund to investors. The spokesperson added that "any fund raised by the group, which we are doing, through sales and mortgaging of properties, that money shall go to Sahara-Sebi account and nothing will come to the corporate". And he said that the payment to Sebi is a double payment for them. Sahara till today has already deposited Rs 11,000 crore (including interest) with Sebi. The spokesperson also said that "Sahara's two Companies in question collected Rs 25,780 crore through OFCD (Optionally Fully Convertible Debenture) schemes. Of this, Sahara repaid almost 95 per cent (around Rs 23,000 crore) of OFCD liabilities of these two companies by 2012."

Recent attempts by Sahara to raise funds through a US-based company Mirach Capital failed. The group said it is now in talks with a European bank and a Dutch pension fund and some other entities to raise funds for Subrata Roy's release.

SEBI versus Sahara: Rs. 22 crores versus Rs. 18000 crores

Sebi has around Rs.11, 500 crores of Sahara's money, including bank interest.

By the time Saharasri Subrata Roy shall come out, that is, when full bail amount is paid, Money of Sahara India Pariwar Company lying with Sebi will be Rs.18, 000 crores cash.  Since no bank is ready to give Bank Guarantee to Sahara India Pariwar without 100% cash margin, it is going to be Rs.18, 000 crores of cash with Sebi.

While in the last 26 months, Sebi had to pay only around Rs.2 crores. More importantly, Sebi came out with an All-India Media Advertisement, twice, inviting investors for repayments. But till now, they have received from all over India, a demand of Rs.20 crores only. A question can now arise that whether the investors exist or do not exist; meaning, are these all fictitious accounts?

Only verification can clarify this point, as mandated in Hon'ble Court's order of 2012. Since then, in almost past 26 months, Sebi has not started verification; the reason best known to them.

About fictitious account, it must be mentioned here another issue pertaining to the Reserve Bank of India (RBI) which is as follows:

Between 2008 and 2012, on RBI's order, Sahara paid back Rs.18, 000 crores under the command of RBI's two Statutory Auditors and 3 RBI nominated Directors.  The bank account of that amount was controlled by the RBI.  A strict rule was followed that when RBI auditors finally checked the identity of all investors (KYC), only then the next months' payments were all owed by the RBI and during the process, in 4 years, RBI did not find any fictitious account; not even one.

Manohar Parrikar is Disturbed at Subrata Roy's long incarceration

said Manohar Parrikar Defence Minister of India and then Chief Minister of Goa, while speaking at the concluding session of the 16th All India whips conference in Goa

4,600 Sahara investors claim refund from Sebi

Around 4,600 investors in two Sahara group companies have come forward to claim refunds from the Securities and Exchange Board of India (Sebi), which had asked those who had purchased bonds issued by the entities to claim their money. Sources familiar with the development told TOI that the average claim is to the tune of Rs 20,000, resulting in a total demand of under Rs 10 crore.

The low demand will bolster Sahara's argument before courts that it had repaid most of the investors who had come forward to claim the investment they had made in bonds issued by two group companies — Sahara India Real Estate Corp (SIRECL) and Sahara Housing Investment Corp (SHICL).

In August, Sebi had asked investors to submit refund applications with documentary proof by September 30. The regulator has begun the process of issuing refunds, the sources said.

Sebi and Sahara have been involved in a bitter battle over the past few years, related to alleged irregular fund-raising to the tune of Rs 24,000 crore from three crore investors.

Sahara has maintained that it has cleared over 90% of the outstanding amount and paid directly to the bondholders, and the remaining amount added up to around Rs 2,500 crore. Following SC orders, it had deposited Rs 5,120 crore to Sebi in December 2012, while another Rs 3,100 crore was deposited this June.

Sahara chief Subrata Roy has been in Tihar Jail for the past six months after the company failed to raise the Rs 10,000 crore required to secure the bail, which the court is insisting on to repay investors.

The company has tried to sell and mortgage its iconic hotel properties in the US and UK but the efforts are yet to bear fruit. Roy was given permission to use a temporary facility in the jail premises to pursue sale of the hotels but has now been ordered to return to barracks.

Sebi had earlier sought to get the list of investors but made little headway as a truckload of documents reached its Mumbai office. It had also tried to contact investors directly earlier as well but got few responses.

Reference link: http://timesofindia.indiatimes.com/business/india-business/4600-Sahara-investors-claim-refund-from-Sebi/articleshow/44765138.cms

Subrata Roy Sahara: Legal debate over Roy’s detention gathers pace

It's been over six months that Subrata Roy, the flamboyant chief of Sahara, has been in Delhi's Tihar jail. In the meantime, the hopes of his release have risen and ebbed. And as the days go by, it is becoming uncertain when he will be able to furnish Rs 10,000 crore to Sebi — a pre-condition set by the Supreme Court for his release. 

Company sources say that it's not that the company doesn't have the money. The issue is Roy's current predicament. "The entire world knows that he's being forced to make distress sales to raise this amount and so he is getting badly discounted offers for his valuable overseas properties. Now, which businessman wants to sell his jewels at throwaway prices," said a company executive. 

Roy's case — and along with him that of two other Sahara directors, Ashok Roy Choudhury and R S Dubey — has few parallels. Technically, Rs 10,000 crore is not a bail amount; bail was granted to him five months ago, but it came with the pre-condition of him paying Rs 10,000 crore for his release. Legal experts say this is an extraordinary pre-condition. 

There is also lack of clarity about the charges that have been slapped against Roy and the two Sahara directors. If it is contempt of court — Roy refused to appear before the Supreme Court on the given date citing his mother's illness — he has already served the maximum punishment of six months prescribed for the offence. 

"The question to be debated is whether there is a reasonable limit for how long someone can be incarcerated under the present circumstances — or if the six-month limit prescribed under the Contempt of Courts Act applies here," said Gopal Sankaranarayanan, senior advocate, Supreme Court. 

Article 21 of the Constitution deals with an individual's personal liberty. It states, "No person shall be deprived of his life or personal liberty except according to procedure established by law." 

Some feel that this Article is being violated. Abhishek Manu Singhvi said, "Although currently I am not arguing the case, in my professional opinion, the continued incarceration may well be held to be a violation of his right to life under Article 21 (of Constitution of India) and a fit ground for a curative petition." 

These legal points aside, it is now clear that Roy — about whom company executives say was not an original respondent in this case — will have to pay the amount as ordered by the Supreme Court. The question is whether he should be kept in prison until he coughs up with Rs 10,000 crore, or should he be released with due safeguards, allowed to negotiate the best terms for sale of assets, and told to pay the amount within a set deadline. 

Roy has been in Tihar jail, under judicial custody, since March 4 this year. In early August, Roy was given a 10 working days to negotiate sale or lease of Sahara group's hotel properties to raise the Rs 10,000-crore bail amount. According to people within the group, he has been making 'relentless efforts to sell the properties' in order to meet the criterion set forth by the apex court, 'which shows his bonafide intention to comply with the orders passed by the court'.

Reference Link: http://timesofindia.indiatimes.com/business/india-business/Legal-debate-over-Roys-detention-gathers-pace/articleshow/44661645.cms

Sahara Case Proceeding : Gautam Awasthi Thanked Supremecourt

Statement of Advocate Gautam Awasthi on yesterday’s Supreme Court Proceedings

               

Today, we are extremely thankful to our Hon’ble Judges who have opened the path after 5 months for Saharasree to reintroduce him and his presence in the work sphere. He never could get a chance to talk to anybody. Here in the jail, Subrata Roy Sahara used to get only 35 minutes and additional few calls at times in a week.

Actually from today only the business is starting to fulfill the direction of Hon’ble Court though these are all double payments.

So, on 22nd July, 2014, we got the permission for mortgage and sale of overseas assets and today on 1st August, 2014, we are going to get the support of all kinds of communications round the clock with office staff and technical support.

Since all the assets, every Rupee, every inch of all immovable properties, every gram of movable properties were under absolute embargo no payment in compliance of order dated 26th March, 2014 could have been made. Immediately after lifting of embargo on Bank account etc. things have started improving from beginning of June and consequently a substantial part of the cash payment of Rs.5000 crores could be deposited.

Sahara thanks apex court for asset de-freeze

 

The Sahara Group has thanked the Supreme Court for lifting the freeze on its moveable and immovable assets so that it can raise the Rs.10,000 crore for part payment of dues, but also said it had repaid the bulk of money owed to investors.

"We are very thankful we got clearance of bank accounts and certain select properties," Sudeep Seth, Sahara's lawyer, said in a statement on the behalf of the group after the Supreme Court gave it the go-ahead on Wednesday for sale of its assets in India.

"However, the fact remains that Sahara has already repaid 93 percent of the investors, mostly in cash, and has submitted all repayment vouchers receipts and other documents in original with SEBI (Securities and Exchange Board of India), which SEBI has to verify."

The group said the actual repayment that was pending amounted to just Rs.2,500 crore and that there was not even a single complaint against Sahara. The group also claimed that Rs.5,600 crore of its money was already lying with the markets watchdog.

"Of course, all the money shall ultimately come back to Sahara after verifications."

De-freezing the assets of Sahara on Wednesday, an apex court bench of Justice T.S. Thakur and Justice A.K. Sikri also directed that the money so generated would have to be deposited in an account opened by the regulator.

Soon after the judgment, senior counsel Srinivasan Ganesh asked the court to grant five days' parole to Sahara Group chief Subrata Roy to be with his ailing mother. 

Reference URL: http://www.indiatvnews.com/news/india/sahara-thanks-apex-court-for-asset-de-freeze-37681.html

Sahara Career Thon - Sahara group lines up Rs 32,400 cr investment; 56k new jobs

Sahara group, whose legal battle with Sebi continues in Supreme Court over refund of over Rs 20,000 crore to investors, has made a surprise announcement of plans being afoot to hire over 56,000 new employees this year along with investments to the tune of nearly Rs 32,400 crore.

In three-page newspaper advertisements, the group has invited applications for senior positions across business verticals within and outside country and said that these more than 56,000 new jobs need to be filled by the end of 2014.

In three-page newspaper advertisements, the group has invited applications for senior positions across business verticals within and outside country and said that these more than 56,000 new jobs need to be filled by the end of 2014.

At the same time, it has also claimed that the group, which calls itself Sahara India Parivar, is "committed to creating four lakh salaried positions in next three years".

The businesses for which job applications have been invited include FMCG & retail, dairy, poultry, luxury real estate and lifestyle, food factory, low-cost housing, CSR, education and even cruises (Sahara Water Homes).

The businesses for which job applications have been invited include FMCG & retail, dairy, poultry, luxury real estate and lifestyle, food factory, low-cost housing, CSR, education and even cruises (Sahara Water Homes).

Besides job details, the group also disclosed specific investment targets for at least four business verticals and these investments total to an amount of Rs 32,394 crore.

For its 'Luxury Retail: Sahara Global Mastercraft Ltd' business, the group said that an investment of Rs 1,400 crore would be made over five years, while Rs 5,172 crore would be invested in Food & Beverages and Entertainment: QSR (Quick Service Restaurants).

Its 'International Business: Macedonia (Europe)' business is expected to see an investment of Rs 13,922 crore in dairy project and Rs 9,600 crore in hospitality project.

Further, healthcare would seen an investment of Rs 2,300 crore for 5-7 years, according to the public notice.

The group also claimed a huge asset base with a market value of "Rs 1,52,518 crore" and a land bank of 36,631 acres.

This massive recruitment drive comes at a time when the group is caught in a legal battle with Sebi, which had charged it of raising over Rs 24,000 crore through various "illegalities" in issuance of certain bonds through two firms.

These two firms -- Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC)-- were asked to refund the money to investors, while the Supreme Court also asked the group to comply with Sebi orders.

Sahara group later deposited Rs 5,120 crore with Sebi and claimed that it was way above the outstanding amount due to be returned to investors as more than Rs 20,000 crore were already refunded directly.

The Supreme Court has refused to allow Sahara Group chief Subrata Roy to leave the country till the companies provide details of refunding Rs 20,000 crore to investors.

The apex court last week asked the group to furnish all the documents to reveal the source of Rs 22,885 crore which it claims to have refunded to the investors.

Besides, the group was directed to place all documents including the bank statements sought by Sebi before February 11 when the court would take up the case for further hearings.

Sahara group, whose legal battle with Sebi continues in Supreme Court over refund of over Rs 20,000 crore to investors, has made a surprise announcement of plans being afoot to hire over 56,000 new employees this year along with investments to the tune of nearly Rs 32,400 crore.

In three-page newspaper advertisements, the group has invited applications for senior positions across business verticals within and outside country and said that these more than 56,000 new jobs need to be fil ..

Read more at:
http://economictimes.indiatimes.com/articleshow/29761145.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Sahara group, whose legal battle with Sebi continues in Supreme Court over refund of over Rs 20,000 crore to investors, has made a surprise announcement of plans being afoot to hire over 56,000 new employees this year along with investments to the tune of nearly Rs 32,400 crore.

In three-page newspaper advertisements, the group has invited applications for senior positions across business verticals within and outside country and said that these more than 56,000 new jobs need to be fil ..

Read more at:
http://economictimes.indiatimes.com/articleshow/29761145.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Sahara group, whose legal battle with Sebi continues in Supreme Court over refund of over Rs 20,000 crore to investors, has made a surprise announcement of plans being afoot to hire over 56,000 new employees this year along with investments to the tune of nearly Rs 32,400 crore.

In three-page newspaper advertisements, the group has invited applications for senior positions across business verticals within and outside country and said that these more than 56,000 new jobs need to be fil ..

Read more at:
http://economictimes.indiatimes.com/articleshow/29761145.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

Sahara Pariwar to have 30,000 Sahara 'Q shops' by 2016

Sahara Q, the FMCG division of Sahara India Pariwar, as part of expansion plans has proposed to increase number of its outlets to 30,000 by 2016-end.

Currently, the company has 1,100 exclusive brand outlets in 14 states and has distributorships in 29 States, Sahara India Pariwar said in a statement.

Sahara Q manufactures and sells 895 products in categories of staple, processed food, water and beverages, home care, personal care, home appliances and kitchenware, it said.

In Tamil Nadu, the company said it plans to have 21 outlets by March 2014, 550 by March 2015 and by March 2016, the number of stores would reach to 1,900 outlets, it said.

The number of distributors in the state would also be increased to 200 from the existing 131. It also plans to have 55 Sahara Quality Mobile shop by March 2014, the statement said.

Nationwide, the company plans to have 500 Quality Mobile Shops by March 2014 from the existing 181 outlets, it said.

As part of augmenting the expansion plans, the company would add newer manufacturing facilities in Tamil Nadu, it said, adding the company also plans to adopt "contract farming" in the stat.

Sahara Q set to expand business in Gujarat

Sahara Q, the FMCG and retail company of Sahara India Pariwar, on Tuesday said it would open 1,900 exclusive brand outlets across Gujarat by March 2016 to capture the growing consumer market in the State.

It plans to have 400 distributors, 55 Sahara Q retail shops and 55 Q Mobile Shops in next three months, according to a press release here. Sahara Q would generate jobs for 4,340 people through direct and indirect employment.

The company’s more than 400 new distributors would reach 70,000 kirana stores to make quality consumer merchandise available in the State where the company sees a 30% growth in demand for fast-moving consumer goods.

The FMCG and retail firm would also source products from local vendors. Local assortments would be added to the product portfolio going forward, said Romie Dutt, Executive Director Worker.

Sahara Q is present in 14 States across India.

Sahara Q to open 2,800 EBOs by March 2016

Company plans to open 55 Sahara Q shop retail stores and 55 Q Mobile Shops in next three months

Sahara Q, the FMCG and retail company of Sahara India Pariwar plans to open 2,800 exclusive brand outlets (EBOs) in the state by March 2016.

Immediately, the company plans to open 55 Sahara Q shop retail stores and 55 Q Mobile Shops in next three months.

The company targets to open 400 stores by March 2015 and enhance the number to 2,800 by end of March 2016.

"Odisha has a very high market potential in terms of exponential growth of our business. We see a growth of 40 per cent in demand for fast moving consumer goods in the state and we are going for a holistic expansion by adopting omni-channel approach to be available everywhere in the state" said Romie Dutt, Sahara Q's Executive Director Worker.

"We are expanding the network of distributors to make our products available across the state. Simultaneously, we are opening 2,800 exclusive brand outlets as that gives us an opportunity to showcase our entire range of products. Local sourcing of products is also in the pipeline to cater to the regional taste preferences of people", Dutt added.

The company said, it would expand its dealer network by appointing more than 150 new distributors in next three months to make its consumer merchandise available at 25,000 kirana stores.

Sahara Q would generate direct and indirect employment opportunities for close to 3,250 people from the state through its operations.

The workforce would include 200 people directly working for the company and about 3,050 for its business associates like distributors and manufacturers.

The FMCG and retail firm would source products from local vendors.

Local assortments would also be added to the product portfolio going forward, it said. Sahara Q offers a basket of 895 products ranging from food (staples and processed food) non-food (personal care and home care), general merchandise, consumer durables and lifestyle products.

Sahara Q manufactures and sells its consumer merchandise in 431 cities across 14 states through 1,085 exclusive retail stores. Besides, the company's products are available through General Trade Distribution in 29 states.

Sahara Q&A

Q1. What did Sahara bid for the team sponsorship once again knowing that they have been in dispute with the BCCI already over the termination of the IPL team Pune Warriors? Sahara chairman had already pointed out in the past that it is not easy working with the cricket board.

A1. From the time, we first announced our disassociation with the BCCI, a number of cricketers had requested ‘Saharasri’ Subrata Roy Sahara to please continue with the sponsorship stating that they had donned the logo of Sahara on their chest for years and they want to retire with the same logo on their chest. There was strong insistence from various Indian cricketers. Still, we had no intention to bid for the sponsorship of India Cricket Team, till even 5 days back. But in the past couple of days, there were number of calls from senior cricketers (both past and present) and some senior members of BCCI to ‘Saharasri’. All of them vehemently requested him to continue with the sponsorship of Indian Cricket Team. Considering their insistence, we decided to bid for the sponsorship of the Indian Cricket Team.

Q2. Sahara picked up the tender document on Saturday and were told on Monday afternoon they are ineligible to bid. What happened on Mondaywhen Mr. N Srinivasan and the rest of the board members, along with their lawyers, met Sahara officials? What explanation did they give?

A2. At 3 PM Sahara, under its company Sahara India Financial Corporation Limited (SIFCL), & Star TV network submitted the closed bid including Eligibility requirement & Financial Bid towards the Indian Cricket team sponsorship to the BCCI committee at Park Sheraton Hotel, Chennai. The BCCI asked both the bidders to go out of the room so that they could evaluate the Eligibility Bid amongst themselves. Both the Bidders were kept out for an Hour while the eligibility was being evaluated Post this, only Sahara was asked to come inside the room. The Board told Sahara that they are ineligible because of their current dispute with BCCI towards the IPL Franchisee under Sahara Adventure Sports Limited. I myself representing Sahara told BCCI that the Bidding Company (SIFCL) is in no dispute with BCCI and has always paid towards all sponsorship obligations thus there is no reason for ineligibility.

BCCI then informed that the ITT has a clause which can bar even a group company from bidding incase any other group company is in dispute with BCCI. I asked BCCI that in that case why is BCCI till date accepting payment from Sahara towards Team sponsorship and then why is Indian Cricket team still wearing Sahara Logo on the clothing till date, even after the dispute o IPL franchisee which happened with Sahara Adventure Sports Ltd. To this BCCI did not had any suitable answer. Then Mr. N. Srinivasan said that “I can also speak about a lot of things that Sahara has said about us in the last few months”. Finally Mr. Sundar Raman again told Sahara that their Bid was Ineligible.

Q3. Does Sahara believe that BCCI deliberately found them ineligible so that they could hand over the sponsorship rights to Star? Did Sahara smell any foul play or favoritism towards one particular party?

A3. The reason of ineligibility for Sahara, as cited by BCCI, is that one of our company, Sahara Adventure Sports Ltd., which held the Pune IPL franchisee, is in dispute with the Board. The fact is that even when this IPL dispute was on-going, we had made regular payments for the sponsorship of National India Cricket Team. In fact, we have never defaulted on the payments. During all this period, BCCI had been accepting all the payments from Sahara India Financial Corporation Ltd. and our logo was very much present on the Team jersey even till today and shall remain till December end 2013. Our question is why all this while, BCCI didn’t found us ineligible as a sponsor. Even 48 hours before the bid, when we bought the bidding form and were discussing the various modalities continuously with the Board, even before 3:00 p.m. when we submitted our bid, they didn’t even once mention that Sahara is ineligible to bid for the sponsorship. It was during the bid only, that they mentioned for the very first time that Sahara is ineligible. It is very apparent to naked eye that BCCI had foul intentions and was making a mockery of the entire bidding process.

Q4. BCCI has accused Sahara of defaulting on payments and continuously missing deadlines. What does Sahara have to say about it?

A4. We have never defaulted even once on our payments. As mentioned earlier, even during dispute regarding the IPL Pune franchisee, we ensured timely and regular payments to BCCI for sponsorship of India Cricket Team. We have till now paid more than Rs. 1,000 crores to BCCI for Indian Cricket Sponsorship, since our association in 2001. This is apart from the Franchise Fee for Pune Warriors which Sahara kept on paying since year 1 despite being given false assurances of justice. It was only when BCCI defaulted on its promises that we were left with no option but to hold back the bank guarantee

Sahara had raised the issue regarding significant reduction in the number of matches which was one of the most important basis and criteria for the bid, since 2011. BCCI had made pre-bid representations that 94 matches will be held in every season and then arbitrarily reduced the number of matches from 94 to 74 & then 76. Sahara had placed its bid for the IPL franchise based on the representations of BCCI which were false. The reduction in the number of matches has had a substantial financial impact due to the reduction in the central revenues under the Franchise Agreement.

This is not the only time that BCCI has treated Pune Warriors India with disdain and in an unfair manner.  Right from day one, when the rule of player retention was altered prior to IPL Season 4 (which was the 1st year of PWI in the League) all our requests for seeking a level playing field by having an Open Auction for the players were turned down. The original Franchise document of 2008 had a provision of Open Auction every three years. Hence, when constituting a new team we were deprived of the opportunity to bid for players of the likes of Sachin, Dhoni, Sehwag, Watson, Malinga etc.

Despite assurances given in a meeting between Mr. Subrata Roy Sahara and Mr. N. Srinivasan, President – BCCI in February 2012, subsequent to which a joint media statement was issued whereby both parties agreed to start the arbitration proceedings to address Sahara’s claim for a reduction in franchise fee for 74 matches. However, in contravention of the understanding reached between the parties, no steps were taken by BCCI to address our long standing demand of the reduction of the Franchise Fee. In fact, far from starting the arbitration, BCCI has thwarted the process.

Even before the start of IPL 2013 season, ‘Saharasri’ Subrata Roy Sahara himself wrote to the BCCI President expressing his concerns. The BCCI President chose not to respond himself, instead deputing his agency to send a denial for consideration. Mr. Rajiv Shukla had met Mr. Roy before Season 6 and assured him that all issues will be resolved and requested him to be patient. When the Season was on, the payment of the last installment for the Season was discussed and every time Sahara was assured that the issue will be resolved and a mutually agreeable solution will be arrived at. However, again in stark contravention of the understanding and betrayal of trust, our Bank Guarantee was invoked. BCCI waited before conducting this act of betrayal because any such move midway through the tournament would have jeopardized their broadcaster commitments.   

This made it evidently clear that BCCI did not want to honour their promises. Therefore due to non fulfillment of reciprocal obligations of BCCI and failure to keep its promises as given in Feb 2012, Sahara was left with no option but to hold back the Bank Guarantee till promises and obligations were fulfilled. But instead of fulfilling its promises and obligations, BCCI went ahead and terminated the Contract, though itself it is in breach.

Q5. Going forward from question number 4, Bombay high court had asked Sahara to submit the bank guarantee proportionate to the reduced number of matches. Had the bank guarantee been provided, the dispute would have been settled. What does Sahara have to say about it?

A5. No. Sahara was asked to submit 80% of the total franchisee fee of Rs. 170 crores annually as bank guarantee. However, our contention was that in the past 3 years, we had already paid 25% extra per year which totaled to 75% of an annual payment. So this excess payment should have been considered as the guarantee, rather than a fresh guarantee of 80%. Moreover, it was an interim order and would not have settled the dispute.

Q6. Does Sahara believe Mr. N Srinivasan has anything in particular against them? Because in the past, Sahara has always enjoyed a cordial relationship with the BCCI and

Q10. What is wrong with Indian cricket administration as of today? Why are so many controversies coming out one after another?

A6 and A10. It looks like that BCCI is a promoter led private company which is working according to whims and fancies of one individual. It is very unfortunate that because of one man, the sport of cricket in India has to suffer. Our past experience with BCCI was of a Board keen to work and collaborate in the interest of the development of the game. Today, the title sponsorship has been given for Rs. 1.92 crore per match when our bid price was Rs. 2.35 core, per match.

Q7. Sahara was paying Rs 3.34 cr per match for sponsorship of the Indian team.  With Star bagging the deal for so less, having the rights been undervalued? Sections of the sports industry believe Sahara was over-paying.  What does Sahara have to say about it?

A7. I don’t think so. Infact, I believed that this time, they have undervalued the amount. As for our earlier bid, when we won the sponsorship in 2010 for Rs. 3.34 crore per match, Sachin Tendulkar, Rahul Dravid, VVV Laxman, all were in their peak during that time and the World Cup was also about to happen in 2011 in India. The base price that time was Rs. 2.5 crore. Also the cricket viewership in recent times has dropped and in the meanwhile other sports like Hockey, Badminton, etc. are gaining popularity along with development of celebrities in other sports.

Q8. Will Sahara associate itself with Indian cricket any more in the future?

A8. We have certain big plans for promotion of various sports including cricket in India, which will be shared by ‘Saharasri’ Subrata Roy Sahara at an appropriate time.

Q9. Does Sahara believe that they overpaid to buy Pune Warriors? Is that where all the trouble with BCCI begin?

A9. Our IPL bid for Pune franchisee was based on the BCCI’s pre-bid representations that 94 matches will be held in every season. Later, BCCI arbitrarily reduced the number of matches from 94 to 74 & then 76. In addition to that, we were not given level playing field by not having an open auction. This reduced our access to ace players. Hence, it affected our on-filed performance as well as marketability of the franchisee. This along with other issues of uneven treatment made the franchisee unviable for us.