Subrata Roy Sahara has been arrested after surrendering to police in the city of Lucknow. The Supreme Court had ordered his arrest after he failed to appear before judges in a case of fraud. Two of his companies are accused of raising $3.9 billion using bonds that were later deemed to be illegal. He was ordered to refund the money but has failed to do so. He is expected to be in custody until at least March 4 when a new hearing is scheduled.
The arrest will not affect the team as it is believed to have its 2014 budget in place.
joeblogsf1 
Did he choose the city for the irony?
Well, if he’s been transferred out of the city, he’s out of Lucknow..
That’s the best so far!!!
Agreed…
Lock down day for the engine, lock up day for the owner.
Hi Joe,
This story regarding Sahara’s legal issues has been ongoing for some time now. However I don’t really understand what it is that he has allegedly done wrong: i.e. what was it about the bond issue that was deemed to be illegal.
Can you shed some light on this for me?
I’m glad to hear that FI have their budget allocated for this year, but given the combined troubles of Mallya and Sahara I can’t really see how FI will remain unaffected indefinitely. Which is a real shame as they have been punching above their weight for a while but without the extra investment required I can’t see them climbing the ranks any higher.
I suggest that you read the Indian newspapers online.
Lucknow became a UNlucky place to be for Roy Sahara….LOL!
Luck Deserts Sahara.
Give that man a Bells…
QC
Anyone care to have a bet on which team will have a financial default first this year, and will they survive it? Also, will they be the only team to falter this year?
Caterham.