Latest news with #SaharaGroup
Zawya
29-05-2025
- Business
- Zawya
Nigeria: Energy firm affirms commitment to inclusive growth, local capacity devt
Asharami Energy, a Sahara Group upstream company, has said it will continue to spearhead the quest for driving inclusive growth and local content development across Nigeria's energy landscape through investments, responsible operations, and collaboration with stakeholders in the upstream value chain. Speaking at the 5th edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF), Leste Aihevba, Chief Technical Officer, Asharami Energy, said the sector would need to shore up local capacity development and participation to effectively contribute to Nigeria's energy security. Aihevba said that while current trends in the industry show increasing involvement of local expertise, a development he described as 'imperative for stability, innovation, seamless operations, and sustainable production to foster economic development in Nigeria. It is worthy to highlight that Asharami Energy already has close to 100% local content participation, with all but a few of the most complex technologies delivered by local service providers. 'Services covering subsurface reviews and studies, field development plans, well interventions, drilling, civil as well as oil and gas infrastructure projects, like flowlines, pipelines, flowstations, roads and location constructions are all provided by local companies.' He noted that Asharami Energy's collaboration model and capacity-building interventions drive the company's commitment to making a difference responsibly in the sector. 'Our message at NOGOF 2025 is simple. Asharami Energy is not just developing assets; we're developing people, communities, and promoting shared prosperity. We believe that the true measure of our success is not just in the number of barrels we produce, but in the impact and the value we create. Asharami Energy has a track record of both building local content capacity with Nigerian Service Providers and working harmoniously with all stakeholders in the local communities in which we operate', he said. Differentiating between local content at the national scale and local community participation in shared prosperity, Aihevba highlighted the company's gas-to-power intervention in the Ajoki community in Edo State, which has been enjoying uninterrupted power supply, promoting clean energy and environmental sustainability for the community, and the vocational training programmes it runs in partnership with the University of Benin Consultancy Services, which delivers skills training in various areas to up to 20 community youths annually. Asharami Energy is also providing roads in host communities to promote access to markets and opportunities and organises health and educational interventions to boost quality of life. Themed 'Driving Investment and Production Growth: Shaping a Sustainable Future for Nigeria's Oil and Gas Industry Through Indigenous Capacity Development,' NOGOF 2025 was held in Yenagoa, Bayelsa State, featuring high-level conversations and exhibitions geared towards putting the spotlight on growing local capacity in alignment with Nigeria's energy transition goals. Held biennially, NOGOF is a premier industry platform organised by the Nigerian Content Development and Monitoring Board (NCDMB) to showcase investment opportunities across Nigeria's oil and gas sector, with participation from key players across the upstream, midstream, and downstream sectors. Copyright © 2022 Nigerian Tribune Provided by SyndiGate Media Inc. (
Indian Express
14-05-2025
- Business
- Indian Express
After decade-long hiatus, Maharashtra to relaunch seaplane tourism services
A decade after its maiden flight, Maharashtra is set to revive its long-anticipated seaplane tourism project, marking a renewed push to improve regional connectivity and tap into the state's vast tourism potential. The Maharashtra Tourism Development Corporation (MTDC) decided to relaunch seaplane services in the state, connecting Mumbai, Pune, western Maharashtra, and Konkan with lesser-accessible yet scenic locations such as Ganpatipule in Ratnagiri, Koyna Dam in Satara, Ujani Dam in Solapur, and Mandwa near Alibaug. Officials said the initiative was designed to reduce travel time, offer a unique aerial experience, and promote tourism in areas rich in the state's natural and cultural heritage. The seaplane initiative was originally launched in February 2014 with a nine-seater Cessna 208 Amphibian aircraft operating between Mumbai and Pavana dam near Lonavala. However, the service faced multiple challenges, including regulatory hurdles and the arrest of Sahara Group chief Subrata Roy, leading to the suspension of operations shortly after its commencement. Additionally, MTDC's efforts to start a seaplane service within Mumbai—from Juhu airport to Girgaum Chowpatty—were stalled due to approvals pending for the construction of a jetty at Chowpatty. 'This time, the approach is more pragmatic and future-ready,' a senior MTDC official said. 'We are focusing on commercially viable routes, using existing infrastructure like helipads and certified waterbodies, and working closely with civil aviation authorities to streamline permissions.' Under the revamped plan, MTDC proposes to use 9–19-seater amphibious aircraft—single or twin-engine—that can operate on land and water. The service is envisioned not just as a novelty, but as a sustainable, quick-access transport mode for tourists and high-value travelers. Officials said bids/Expressions of Interest (EOIs) have been invited from aviation operators with experience in seaplane operations. 'We aim to introduce seaplane operations as part of our tourism and connectivity enhancement initiatives. The project will facilitate faster travel to key tourist destinations, boost tourism, and improve regional connectivity. The initiative will enhance accessibility to tourist attractions, promote regional connectivity, and offer premium aerial tours showcasing the state's natural beauty, historical landmarks, and cultural heritage. Maharashtra's diverse landscape, ranging from the Western Ghats and pristine beaches to UNESCO World Heritage sites, offers significant potential for seaplane operations,' the official said. This initiative seeks to enhance travel convenience, boost tourism, and create a structured framework for seaplane tourism operations in the state. The MTDC official added that the objective was to enhance tourism potential by introducing seaplane connectivity to strategic locations and improving accessibility to destinations by utilising existing helipads. 'This would also boost economic growth at tourist destinations and ensure environmentally sustainable and safe operations,' he said. The project is also being framed within Maharashtra's broader goal of sustainable tourism development. 'We are factoring in environmental safeguards from day one, including impact assessments and compliance with coastal and aviation regulations,' the official added. Apart from easing access to destinations like Ganpatipule—known for its beachside temple—and ecotourism hubs such as Koyna and Panshet, the seaplane service is expected to provide a boost to local economies through increased tourist footfall and associated employment. Experts say the success of the initiative will depend on affordable pricing, reliable schedules, and awareness-building among domestic tourists. 'Seaplanes work best when integrated with other modes of transport and marketed as part of a curated travel experience,' said a tourism industry analyst. If successful, Maharashtra will be one of the first states in the country to operate a multi-route seaplane network. MTDC indicated that initial routes could be operational within the next few months, subject to final clearances and operator agreements. The state's renewed focus on aerial and water-based transport reflects a wider trend in post-pandemic tourism planning, where smaller aircraft, shorter getaways, and access to nature-based destinations are increasingly in demand. Maharashtra has also decided to introduce cruise tourism, with plans for coastal and river cruise services. By leveraging both major and non-major ports, the state aims to offer travelers a scenic and immersive coastal tourism experience.
United News of India
24-04-2025
- Business
- United News of India
ED attaches Sahara property at 16 locations in alleged Ponzi scam
Kolkata, Apr 24 (UNI) The enforcement Directorate (ED) probing Sahara India's alleged Ponzi scam, has attached landed property of Sahara Prime City Ltd measuring 1023 acres from 16 locations across the country worth Rs. 538 crore, the federal agency said. "These lands were purchased in Benami names with the funds diverted from Sahara entities as the attached lands are spread across 16 cities in India," the ED said. The attached lands are located in Gujarat, Odisha, Maharashtra, Rajasthan, J&K, Karnataka, Uttarakhand, UP West Bengal on the basis of 3 FIRs registered u/s 420 and 120B of IPC, 1860 against M/s Humara India Credit Co-operative Society Ltd. (HICCSL) and others by Odisha, Bihar and Rajasthan Police. Besides, over 500 FIRs had been registered against the Sahara Group entities and related persons. More than 300 FIRs registered for offences that are scheduled under the PMLA, 2002 on the allegations that depositors were cheated into depositing funds, forced to redeposit funds without their consent and were denied their maturity payments despite demanding maturity payouts several time," the ED said in a statement. " In order to camouflage non-repayment, the group manipulated the books of accounts to show repayment in a scheme, treating reinvestment as fresh investment in another scheme," the ED said. In order to perpetuate the ponzi scheme, they continued to accept fresh deposits despite not being able to repay the existing maturity amount. " the ED said. The ED probe revealed that part of the collected money was siphoned and diverted for creating benami assets, for their personal expenses and lavish lifestyle. Investigation also revealed that they have also disposed of the assets of Sahara group and received part of payment in undisclosed cash in lieu of sale of land thereby denying the depositors of their rightful claim. During investigations, statements of various persons, including depositors, agents, employees of Sahara Group and other related persons have been recorded under Section 50 of PMLA. Also, searches were conducted under section 17 of PMLA wherein cash of Rs. 2.98 crore was seized. Earlier, another attachment order in the instant case was issued attaching 707 acres of land having approximate market value of Rs.1460 crore in Amby Valley. UNI PC PRS
Time of India
23-04-2025
- Business
- Time of India
ED attaches fresh assets worth over Rs 1,500 crore in Sahara case
The Enforcement Directorate (ED) on Wednesday said it has attached fresh assets worth more than Rs 1,500 crore as part of a money-laundering investigation against the Sahara Group. A provisional order was issued by the federal probe agency under the Prevention of Money Laundering Act (PMLA) to attach a total of 1,023 acres of land of Sahara Prime City Limited in 16 cities. The total value of these plots is Rs 1,538 crore (according to the 2016 circle rate). These pieces of land were purchased through "benami" transactions, with the funds "diverted" from Sahara entities, the agency said in a statement. These pieces of land are located in Gujarat, Odisha, Maharashtra, Karnataka, Rajasthan, Jammu and Kashmir and Uttar Pradesh, the statement said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Last week, the ED attached 707 acres of land in Amby Valley, located in Maharashtra's Lonavala, worth Rs 1,460 crore (market value). The money-laundering case stems from more than 500 FIRs filed by various state police departments. Live Events Three FIRs registered against Humara India Credit Cooperative Society Limited (HICCSL) and others by police in Odisha, Bihar and Rajasthan, apart from more than 500 such complaints filed against Sahara Group entities and related persons, have been analysed by the ED. The agency alleged that the Sahara Group was running a "Ponzi" scheme through various entities, such as HICCSL, Sahara Credit Cooperative Society Limited (SCCSL), Saharayn Universal Multipurpose Cooperative Society (SUMCS), Stars Multipurpose Cooperative Society Limited (SMCSL), Sahara India Commercial Corporation Limited (SICCL), Sahara India Real Estate Corporation Limited (SIRECL), Sahara Housing Investment Corporation Limited (SHICL) and other group entities. "The group has cheated the depositors and agents by alluring them with high returns and commissions respectively, and utilised the funds collected in a non-regulated manner without any information or control of the depositors," the ED said.
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Business Standard
23-04-2025
- Business
- Business Standard
ED attaches fresh assets worth over Rs 1,500 crore in Sahara case
The Enforcement Directorate (ED) on Wednesday said it has attached fresh assets worth more than Rs 1,500 crore as part of a money-laundering investigation against the Sahara Group. A provisional order was issued by the federal probe agency under the Prevention of Money Laundering Act (PMLA) to attach a total of 1,023 acres of land of Sahara Prime City Limited in 16 cities. The total value of these plots is Rs 1,538 crore (according to the 2016 circle rate). These pieces of land were purchased through "benami" transactions, with the funds "diverted" from Sahara entities, the agency said in a statement. These pieces of land are located in Gujarat, Odisha, Maharashtra, Karnataka, Rajasthan, Jammu and Kashmir and Uttar Pradesh, the statement said. Last week, the ED attached 707 acres of land in Amby Valley, located in Maharashtra's Lonavala, worth Rs 1,460 crore (market value). The money-laundering case stems from more than 500 FIRs filed by various state police departments. Three FIRs registered against Humara India Credit Cooperative Society Limited (HICCSL) and others by police in Odisha, Bihar and Rajasthan, apart from more than 500 such complaints filed against Sahara Group entities and related persons, have been analysed by the ED. The agency alleged that the Sahara Group was running a "Ponzi" scheme through various entities, such as HICCSL, Sahara Credit Cooperative Society Limited (SCCSL), Saharayn Universal Multipurpose Cooperative Society (SUMCS), Stars Multipurpose Cooperative Society Limited (SMCSL), Sahara India Commercial Corporation Limited (SICCL), Sahara India Real Estate Corporation Limited (SIRECL), Sahara Housing Investment Corporation Limited (SHICL) and other group entities. "The group has cheated the depositors and agents by alluring them with high returns and commissions respectively, and utilised the funds collected in a non-regulated manner without any information or control of the depositors," the ED said.
