The founder and managing worker of the $10.87 billion Sahara group, Subrata Roy, says he was away from public life for three months because of blood pressure surges and that he is otherwise keeping good health.
In a freewheeling interview to two leading dailies published Friday, the 58-year-old Roy also sought to end speculation over a succession struggle within the group, adding that the empire would be handled by a trust he is forming.
Roy, The Times of India and The Economic Times said, also produced a medical certificate that reportedly declares him to be free of any disease.
"I have got an HIV test done and I do not have AIDS," the newspapers quoted the tycoon - who has been presiding over a group with interest that spans para-banking and aviation to broadcasting and real estate - as saying.
For the past three months, there has been intense speculation in the media and the corporate world over the health of the flamboyant business tycoon who claims to have built his $10.87-billion business empire in just 27 years.
This had even led to a habeas corpus petition in the Allahabad High Court, claiming some family members and officials had kept Roy in detention to siphon off his money. The petition was summarily dismissed last month.
In the interview, Roy spoke about a range of issues - from his association with Uttar Pradesh Chief Minister Mulayam Singh Yadav, businessman-turned-politician Amar Singh and the Ambani family to his own succession plans for the group.
He said he had spoken to the Ambani brothers - Mukesh and Anil - to end their bitter battle over the ownership and control of the Reliance group. "I am telling Anil and Mukesh to settle things fast," he was quoted as saying.
In a different context, he also said Sahara was India's largest first-generation group today - a distinction that was earlier held by Reliance founder Dhirubhai Ambani, whom Roy says he admired.
Roy - whose photos doing a workout, practising yoga and playing cricket were published by the two papers - also dismissed talk that a proposed succession plan would see his two sons, Sushanto and Seemanto, taking over the group.
"Sahara is a family, it can't be split and given away to two children or to anyone like that. Sahara will not have any owners and will be run by a trust which will make it impossible to split the group in 200 years."
The founder chairman also dismissed talks that he was facing problems with the United Progressive Alliance (UPA) government at the centre because of his association with Yadav and Amar Singh who share a strained relationship with Congress party.
"Not one bit," he is said to have replied when queried about whether the change of government at the centre had affected his business.
He said the central bank had restricted the amount of money that Sahara's para-banking business could invest in other ventures to 10 percent.
Roy, nevertheless, added that the UPA government was not responsible for that since the process had been started by the previous National Democratic Alliance regime, led by the Bharatiya Janata Party.
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
The agri-trade has become a very contentious issue in the World Trade Organisation (WTO), but India and Australia have agreed to resolve issues coming in the way of trade in agricultural goods by setting up a mechanism.
RBI to absorb more liquidity to contain inflation
Publish Date : 3/3/2007 7:11:00 AM
In a bid to further contain inflation, Reserve Bank of India today announced a modified market stabilisation scheme (MSS) and liquidity adjustment facility (LAF) to suck out Rs 11,500 crore from the system.
Gold and Silver prices turn distinctly weak
Publish Date : 3/3/2007 7:03:00 AM
Both the precious metals today turned distinctly weak on the bullion market as silver plunged by Rs 570 and gold by Rs 155 on heavy stockists offerings tiggered by sharp fall in the global markets.
Further fall in gold and silver prices
Publish Date : 3/2/2007 7:06:00 AM
Both the precious metals continued to decline on the bullion market here today on sustained offering from stockists in view of fall in the international markets.
Rupee ends marginally up at 44.26/27 a dollar
Publish Date : 3/2/2007 7:03:00 AM
The rupee today ended marginally higher at Rs 44.26/27 a dollar, supported by a smart recovery on equity markets coupled with fresh exporters' dollar sales.
Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
Hyundai Motor India today reported a 74 per cent increase in its domestic vehicle sales during February at 15,459 units compared to the same month last year.
Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
Hong Kong-based Hutchison Telecom has filed a caveat before the Bombay High Court to ensure that its plea is heard in case Essar moves the court, challenging the the foreign partner's decision to sell stake to Vodafone.
Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
Government bond prices continued to decline on persistent selling while call rates eased in view of ample liqudity in the system.
India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
The Reserve Bank of India today said the steep fall in Indian stock markets was a contagious effect of plunge in overseas bourses and the country should have strong market and regulatory mechanism to avoid disruption in markets.
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