What happened to Sahara Infrastructure & Housing’s ambitious plans of developing 217 townships across as many cities in India? Launched with much fanfare over a year ago in Lucknow, which happens to be the city of Sahara Group’s corporate headquarters, the self-contained townships have been strangely out of the news ever since group Chairman Subrata Roy’s buddy Mulayam Singh Yadav lost power in UP. All that the company is willing to say is that three townships—in Lucknow, Indore and Nagpur—are in various stages of construction.
And with the RBI turning up the heat on Roy’s finance company, Sahara India Financial Corporation, for alleged financial irregularities, Roy will probably have little option but to remain low-key, at least till the time he has something “concrete” to show for all his tall claims.
—Tejeesh N.S. Behl