Wednesday, December 11, 2019
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Ink thrown at Indian tycoon Subrata Roy accused of fraud

A lawyer threw ink at a top Indian businessman as he arrived at India’s highest court to face charges that his company failed to return billions of dollars to investors.
Tycoon Subrata Roy along with scores of police and security guards was entering the Supreme Court building when the lawyer threw black ink at him.
“Subrata Roy is a thief. He has cheated and robbed us,” the lawyer, identified by Indian television channels as Manoj Sharma, shouted as he flung the ink at Roy’s face.
Police detained Sharma and led him away.
Roy’s Sahara conglomerate is well known throughout India because it co-owns a Formula One team and sponsored the Indian cricket team until recently.
Sahara has vast real estate holdings and interests in microfinance, media and entertainment companies and hotels, including the Plaza Hotel in New York and London’s Grosvenor House.
The company says its net worth is $11 billion.
India’s securities regulator has accused Roy’s group of raising nearly 200 billion rupees ($3.2 billion) through bonds that were later found to be illegal. Sahara India says its liability was much less and it already has repaid many investors directly.
Anger against Roy has been growing as millions of poor Indians lost their life savings after investing in the bonds.