• Sahara seeks bail

Indian hotel investor Sahara is looking to raise USD650m in bail to spring its chief Subrata Roy. The company, which has been trying to sell the Grosvenor House and New York Plaza, now wants to take over loans on the property, reports Reuters. 

Roy has been held since March in a dispute over the repayment of funds to domestic investors. Attempts to sell the hotel assets, to raise the funds required, have so far stalled. 
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