Sahara once owned an airline, sports teams, hotels in London and New York, financial companies, mutual funds and life insurance companies, the Aamby Valley township, and a huge land bank. Most of these assets are now under attachment or have been sold
The Supreme Court recently set aside the order of the Securities Appellate Tribunal (SAT) that had stayed an order of the Insurance Regulatory and Development Authority Of India (IRDAI) directing.
APY is the guaranteed pension scheme of the government that provides monthly pensions in the range of Rs 1,000-Rs 5,000 to self and spouse with the return of accumulated corpus to the surviving nominees.
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The matter, along with another appeal, will be further considered and argued on August 3, 2023. JP Sen, Senior Advocate, represented Sahara Life in the proceedings, the spokesperson said.