• Sahara breakthrough

Indian courts have approved plans by Sahara group to raise USD1.05bn in fresh finance against its overseas hotels. The cash injection will allow the release of Sahara chief Subrata Roy from jail, reports Reuters.
While the court has approved the move, it still needs to be ratified by the Indian central bank and other local authorities. The refinancing will take over loans against the New York Plaza and Grosvenor House in London.
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