91-730: The Indian Premier League (IPL) , also known as the TATA IPL for sponsorship reasons, is a men's Twenty20 (T20) cricket league held annually in India . Founded by the BCCI (the Board of Control for Cricket in India) in 2007, the league features ten state or city-based franchise teams. It is the most popular and biggest cricket league and it usually takes place during the summer for 2 months, between March and May each year. It has an exclusive window in
182-478: A 2024 report by Forbes India , the average IPL salary among the top 10 highest-paid players is ₹12.37 crore, the second-highest of sports leagues in the world. Because players in the IPL are contracted only for the duration of the tournament – less than two months – the weekly IPL salaries are extrapolated pro data to obtain an average annual salary, unlike other sports leagues in which players are contracted by
273-548: A collaboration with Turner Construction , an American building company, in some of its projects. Sahara India Pariwar announced the launch of Electric Vehicles under the brand name Sahara Evols in June 2019. The product line of Sahara Evols initially consists of motorbikes , scooters , e-rickshaws and 3-wheeler cargo vehicles, charging stations and EV batteries . Sahara owns several professional sports teams in India in
364-587: A combined market capitalisation of ₹33.7 trillion (US$ 403 billion) as of 20 August 2024. Major affiliates include Tata Consultancy Services , Tata Motors , Tata Steel , Tata Power , Titan , Tata Projects , Air India , Indian Hotels Company , Tata Consumer Products , Voltas , Trent , Cromā and BigBasket . Jamshedji Nusserwanji Tata was born in 1839. Tata graduated from Elphinstone College in Bombay in 1858. Shortly afterwards, he joined his father's trading firm that dealt in general merchandise. There,
455-473: A discrete amount while a fixed sum of ₹ 10 lakh (US$ 12,000) to ₹ 30 lakh (US$ 36,000) would be deducted per signing from the franchise's salary purse. This received significant opposition from franchise owners, who complained richer franchises were "luring players with under-the-table deals." The IPL later decided to include domestic players in the player auction. The BCCI give 10% of foreign players' salaries to their country's national cricket board. Based on
546-672: A hospital in Lucknow by the name Sahara Hospital. This hospital became operational in February 2009 and is currently operating with approximately 350 beds, including 120 bed Critical Care Infrastructure which is expandable to 554 beds. Anil Vikram Singh, Sr. Advisor, Sahara India Pariwar, currently heads the hospital. Under the name "Sahara Next", the company offers information technology consulting services in banking, finance, media and entertainment, chemicals, and CRM. Subrata Roy has been planning to foray into online education in India, which
637-482: A huge traffic jam on outskirts of Mumbai , where the regulator is headquartered. SEBI on the other hand because the trucks reached after office hours SEBI rejected the second batch of files, which as per Sahara contained 25% of the investor information. Furthermore, the market regulator SEBI advertised four times in more than 144 newspapers to ask the investors of Sahara to refund the money. And since August 2012 Sebi has only refunded ₹ 64 crore (US$ 7.7 million) to
728-507: A major promoter of sports in India and was the title sponsor of the Indian national cricket team , Indian national hockey team and Bangladesh national cricket team , Force India Formula One team among many other sports. Sahara India Pariwar was founded by Subrata Roy Sahara in 1978. In 2004, Sahara group was termed by the Time magazine as 'the second largest employer in India' after
819-762: A rebel league. On 13 September 2007, following India's victory at the 2007 T20 World Cup , the BCCI announced a franchise based Twenty20 cricket competition known as the Indian Premier League. The inaugural season was scheduled to start in April 2008, commencing with a "high-profile ceremony" in New Delhi . BCCI Vice-president Lalit Modi , who led the IPL initiative, provided details of the tournament, including its format, prize money, franchise revenue system, and squad composition rules. The league, to be managed by
910-622: A seven-man governing council, would also serve as the qualifying mechanism for that year's Champions League Twenty20 . To determine team ownership, an auction for the franchises was held on 24 January 2008. The reserve prices for the eight franchises totalled $ 400 million, but the auction ultimately raised $ 723.59 million. The league officially commenced in April 2008, featuring Chennai Super Kings (CSK), Mumbai Indians (MI), Delhi Daredevils (DD), Kings XI Punjab (KXIP), Deccan Chargers (DC), Rajasthan Royals (RR), Kolkata Knight Riders (KKR), and Royal Challengers Bangalore (RCB). Following
1001-497: A single team for the entire year. According to a report by The Telegraph , IPL players are paid 18% of the revenue, which is the lowest amount compared to other major sports leagues, in which players receive at least 50% of the revenue. The Federation of International Cricketers' Associations said that IPL players must be paid fairly. The 2022 season of the IPL offered total prize money of ₹ 46.5 crore (equivalent to ₹ 49 crore or US$ 5.9 million in 2023), with
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#17327980525111092-788: A variety of sports. In badminton, it owns the Awadhe Warriors of Lucknow , one of the eight teams in the Indian Badminton League . It owned the Pune Warriors India , a franchise cricket team that played in the Indian Premier League (IPL) . The company launched the Sahara Warriors Polo Team in 2012. From 2005 to 2014 Calcutta Football League was sponsored by Sahara. In July 2012, Sahara India Pariwar picked up
1183-443: A whole, prompting a strong desire among stakeholders to value it appropriately. To ensure continued development, management, and team owners must explore innovative ways of engaging fans, clubs, and sponsors. In December 2022, the IPL became a decacorn valued at US$ 10.9 billion, registering a 75% growth in dollar terms since 2020 when it was valued at $ 6.2 billion, according to a report by consulting firm D & P Advisory. In 2022,
1274-588: A world-class learning institution, and a hydroelectric plant . During his lifetime, in 1903, the Taj Mahal Hotel at Colaba waterfront was opened making it the first hotel with electricity in British India. After Jamsetji's death, his older son Dorabji Tata became the chairman in 1904. Sir Dorabji established the Tata Iron and Steel Company (TISCO), now known as Tata Steel in 1907. Marking
1365-497: Is a new animal welfare effort that Ratan Tata has started. This hospital, which is scheduled to open in March 2024 , will be an innovative facility committed to provide modern medical care for pets, including dogs, cats, and rabbits. Ratan Tata is personally passionate about the idea, which was sparked by his own pet-related experiences. Most of the philanthropic activities of the group are carried out by various trusts incorporated by
1456-497: Is an Indian conglomerate headquartered in Lucknow , Uttar Pradesh , India . The group operates business sectors such as finance, infrastructure & housing, real estate, sports, power, manufacturing, media & entertainment, health care, life insurance, educational institute, offline online education (edunguru), retail, E-commerce (online/offline shopping), electrical vehicle (sahara evols), hospital, artificial intelligence, hospitality, and co-operative society. The group has been
1547-419: Is responsible for the league's functions, including the organization of tournaments. As of April 2024, its members included: A team can acquire players through the annual player auction , trading with other teams during trading windows, and signing replacements for unavailable players. Players sign up for the auction and set their base price and are bought by the highest-bidding franchise. Unsold players at
1638-429: Is targeted at small towns and villages. He has put in place a team that consists of members from top universities and colleges across India and abroad. The route map of the program has been prepared, and 14,000 hours of lectures have been prepared for this. The group also announced on 1 July 2018, that it is entering into new businesses which are at different levels of development, and will be launched one after another in
1729-896: The COVID-19 pandemic , the venue for the 2020 season was moved and games were played in the United Arab Emirates . In August 2021, the BCCI announced that two new franchises, based in two of six shortlisted cities, would join the league in the 2022 season . In closed bidding held in October, the RPSG Group and CVC Capital won the bids for the teams, paying ₹ 7,000 crore (US$ 840 million) and ₹ 5,200 crore (US$ 620 million), respectively. The teams were subsequently named Lucknow Super Giants and Gujarat Titans . Several IPL franchise owners have expanded their business by acquiring teams in other franchise leagues, such as
1820-879: The Caribbean Premier League (CPL) , South Africa's SA20 , the UAE's International League T20 (ILT) and the USA's Major League Cricket (MLC) . These teams have been branded with similar names to their parent IPL franchises. In addition to the above acquisitions, Delhi Capitals also bought a stake in MLC's Seattle Orcas . The IPL's headquarters are located in the Cricket Centre, next to the Wankhede Stadium in Churchgate , Mumbai. The Governing Council
1911-463: The Carnegie Medal of Philanthropy . In 2008, Tata Group donated US$ 50 million to Cornell University for "agricultural and nutrition programs in India and for the education of Indian students at Cornell." In 2010, Tata Group donated INR 2.20 billion (US$ 50 million) to Harvard Business School to build an academic and a residential building for executive education programmers on
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#17327980525112002-794: The Fourth Industrial Revolution , including cognitive systems and autonomous vehicles. In 2017, the Tata Football Academy won the bid to form the Jamshedpur FC , a football club based on Jamshedpur of Jharkhand in the 4th edition of the Indian Super League . In 2020, Tata Group has donated INR 15 billion to PM Cares Fund to fight against COVID-19 pandemic in India. In 2024, The Tata Trusts Small Animal Hospital in Mumbai
2093-536: The ICC Future Tours Programme , resulting in fewer international cricket tours occurring during the IPL seasons. In 2014, it ranked sixth in average attendance among all sports leagues. In 2010, the IPL became the first sporting event to be broadcast live on YouTube . Inspired by the success of the IPL, other Indian sports leagues have been established. In 2022, the league's brand value was estimated at ₹90,038 crore (US$ 11 billion). According to
2184-618: The Indian Cricket League (ICL). The ICL was not recognized by the Board of Control for Cricket in India (BCCI) or the International Cricket Council (ICC). Moreover, the BCCI was unhappy about its committee members joining the ICL executive board. In response, the BCCI increased the prize money for its domestic tournaments and imposed lifetime bans on players who joined the rival league, which it considered
2275-675: The Indian Railways . The group operates more than 5,000 establishments across India with the employee strength around 12 lakh (both field and office) under the Sahara India umbrella. Sahara India Real Estate Company and the Sahara Housing Investment Corporation are subsidiaries of the conglomerate. They buy and develop land for residential housing projects across India. The company has its projects spread in almost all over India. Sahara has
2366-646: The Kannan Devan Hill (Resumption of Lands) Act, 1971, and there was a shortage of 278.23 hectares (2.7823 km ) in that. The Chief Minister of Kerala V.S. Achuthanandan , who vowed to evict all on government land in Munnar, formed a special squad for the Munnar land takeover mission and started acquiring back properties. However, the mission was aborted due to both influential landholders and opposition from Achuthanandan's own party. On 2 January 2006, Kalinganagar , Tribal Orissa villagers protested against
2457-409: The 2024 season, the league has ten teams based in cities across India. Present teams Former teams Suspended Chennai Super Kings and Mumbai Indians have each won five titles, the most in the tournament. Kolkata Knight Riders have won three titles, while Rajasthan Royals , Deccan Chargers , Sunrisers Hyderabad and Gujarat Titans have each won a single title. The reigning champions are
2548-762: The Award to $ 420 million; the company states that the judgement is also being appealed, as "not supported by evidence presented during the trial and a strong appeal can be made to superior court to fully set aside the jury verdict.” In July 2018, the National Company Law Tribunal (NCLT), which "adjudicates issues relating to Indian companies," issued a verdict in the company's favor on charges of mismanagement leveled in 2016 by ousted chairman, Cyrus Mistry . 70. ^ Small Animal Hospital Mumbai (SAHM) Sahara India Pariwar#Sports Sahara India Pariwar ( pariwar being Hindi for "family")
2639-615: The BCCI the 10% bank guarantee element of the franchise fee. In September 2012, the Deccan Chargers franchise agreement was terminated after the BCCI failed to find new owners. In October, an auction was held for a replacement franchise; Sun TV Network won the bid for what became the Hyderabad franchise; the team was named Sunrisers Hyderabad . Pune Warriors India withdrew from the IPL in May 2013 due to financial differences with
2730-410: The BCCI took insurance of ₹ 5,000 crore (US$ 600 million) for the IPL. This insurance policy involves all stakeholders, including broadcasters, ancillary services providers, and sponsors. The BCCI is covered in the case of any revenue losses due to weather, riots, and other unforeseen events. The next cycle of IPL media rights will last from 2023 to 2027 and will be put to auction. In this auction,
2821-439: The BCCI, the 2015 IPL season contributed ₹1,150 crore (US$ 140 million) to India's GDP . In December 2022, the IPL achieved a valuation of US$ 10.9 billion, becoming a decacorn and registering a 75% growth in dollar terms since 2020 when it was valued at $ 6.2 billion, according to a report by the consulting firm D and P Advisory. Its 2023 final became the most streamed live event on the internet, with 32 million viewers. In 2023,
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2912-466: The BCCI. The BCCI officially terminated the franchise in October, and the league reverted to eight teams. In June 2015, the two-time champions Chennai Super Kings and the inaugural season champions Rajasthan Royals were suspended for two seasons following their involvement in a spot-fixing and betting scandal . The two teams were replaced for two seasons by franchises based in Pune and Rajkot . Due to
3003-479: The Gahirmatha Sanctuary and Bhitarkanika National Park by Indian and international organisations, including Greenpeace ; Gahirmatha Beach is one of the world's largest mass nesting sites for the olive ridley turtle , and India's second largest mangrove forest, Bhitarkanika , is a designated Ramsar site , and critics claimed that the port could disrupt mass nesting at Gahirmtha beaches as well as
3094-584: The Government of India passed the Air Corporations Act and purchased a majority stake in the carrier from Tata Sons , though JRD Tata would continue as chairman till 1977. In 1945, Tata Motors was founded, first focused on locomotives. In 1954, it entered the commercial vehicle market after forming a joint venture with Daimler-Benz . In 1968, Tata Consultancy Services was founded. In 1991, Ratan Tata became chairman of Tata Group. This
3185-501: The IPL had contributed to a net loss of 2.4 million Disney+ subscribers worldwide, primarily in India. Tata Group The Tata Group ( / ˈ t ɑː t ɑː / ) is an Indian group of companies headquartered in Mumbai . Established in 1868, it is India's largest business conglomerate , with products and services in over 160 countries, and operations in 100 countries. There are total 29 publicly listed Tata Group companies with
3276-448: The IPL would double the amount paid to cricket boards that made their players available for an entire season. In 2022, Australian Cricketers' Association expressed its unhappiness about this. The IPL tournament rapidly grew in value between 2016 and 2018. Financial experts valued the IPL at US$ 4.16 billion in 2016; that number grew to $ 5.3 billion in 2017 and $ 6.13 billion in 2018. A report from Duff & Phelps said one of
3367-573: The Indian Life insurance market. The launch is with an initial paid-up capital of ₹ 157 crores . Sahara India Life Insurance Company Ltd. (SILICA) is a life insurance company in the private sector, Sahara Asset Management Company Pvt. Ltd. manages 16 equity and debt mutual funds. Sahara Banking & Financial Services Fund has been adjudged the Best Performing Banking Sector Fund over a three-year performance by
3458-660: The International School Aamby – Aamby Valley. Being a largely unlisted company Sahara India Parivar's activities have come under criticism largely because of legal issues it is facing. On 26 February 2014, the Supreme Court of India had issued warrants to summon Subrata Roy, Managing Worker, chairman and founder of Sahara India Pariwar, on a litigation on the Optionally Fully Convertible Debentures issued by
3549-566: The Kolkata Knight Riders, who defeated the Sunrisers Hyderabad by eight wickets in the 2024 IPL final to secure their third title. Team now defunct Team now defunct This section shows records from the league stage only (i.e. excluding playoffs & finals) from 2008–2024. Stats are correct as of conclusion of league stage of IPL 2024 . A summary of the most notable statistical records associated with
3640-878: The Lucknow franchise of the Hockey India League , the Uttar Pradesh Wizards . It was also the sponsor of the Bangladesh Cricket Team from 2012 to 2015. The group owns the national Hindi news channel Jain TV . The group owns Headend-in-the-sky Platform Jainhits . Sahara owned a controlling stake in New York's Plaza Hotel and Dream Downtown Hotel, New York. Sahara sold the hotel to Katara Hospitality in July 2018. In India,
3731-977: The Nano project. On 31 August 2016, in a historic judgement, the Honorable Supreme Court of India set aside the land acquisition by the West Bengal Government in 2006 that had facilitated Tata Motors' Nano plant, stating that the West Bengal government had not taken possession of the land legally, and were now required to repossess and return it to local farmers within 12 weeks without compensation. The Port of Dhamara has received significant coverage, sparking controversy in India, and in Tata's emerging global markets. The Dhamra port, an equal joint venture between Tata Steel and Larsen & Toubro , has been criticised for its proximity to
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3822-643: The assets of the Tata Group grew from US$ 101 million to over US$ 5 billion. Starting with 14 enterprises, upon his departure half a century later in 1988, Tata Sons had grown to a conglomerate of 95 enterprises. These enterprises consisted of ventures that the company had either started or in which they held a controlling interest. New sectors such as chemicals, technology, cosmetics, marketing, engineering, manufacturing, tea, and software services earned them recognition. In 1932, JRD founded an airline, known as Tata Air Services (later renamed Tata Airlines). In 1953,
3913-494: The auction can become replacement signings. Trades require player consent, and any contract differences are covered by the franchise. There are typically three trading windows: two before the auction and one before the tournament. No trading is allowed outside these windows or during the tournament, but replacements can be signed before or during the event. Other notable rules, as of the 2024 season, include: Player contracts run for one year but can be extended by one or two years if
4004-431: The award in 2024. The Fair Play Award is given after each season to the team considered to have the best fair play record. After each match, the two on-field umpires and the third umpire score the performance of both teams, with the highest-scoring team at the end of the season receiving the award. The 2024 winners were Sunrisers Hyderabad . The Emerging Player Award was presented to the best under-19 player in 2008 and
4095-405: The award three times, more than any other player. Virat Kohli of Royal Challengers Bengaluru , who scored 741 runs during the 2024 season , is the most recent winner of the award. The Purple Cap is awarded to the highest wicket-taker at the end of each season. It is an ongoing competition and the bowler who is the leading wicket-taker wears a purple cap whilst fielding. The eventual winner keeps
4186-509: The ban on players who chose to participate in the ICL, the rival league shut down in 2009. New franchises, Pune Warriors India and Kochi Tuskers Kerala , joined the league before the fourth season in 2011. The Sahara Adventure Sports Group purchased the Pune franchise for $ 370 million, while Rendezvous Sports World bought the Kochi franchise for $ 333.3 million. The Kochi franchise was terminated after just one season due to their failure to pay
4277-571: The best under-23 player in 2009 and 2010. In 2011 and 2012, the award was known as "Rising Star of the Year," and in 2013 the "Best Young Player of the Season." Since 2014, the award has been called the Emerging Player of the Year. Mustafizur Rahman is the only foreign player to win this award. The 2024 winner was Nitish Kumar Reddy . The Maximum Sixes Award is presented to the player who hits
4368-495: The broadcasting rights were divided into four packages. Package A was for domestic television rights, and Package B was for domestic digital rights. Package C was for the digital rights of eighteen non-exclusive matches, and Package D was for international television and digital rights, further divided into four groups. On 13 June 2022, it was reported the packages for domestic television and streaming rights had fetched at least ₹ 397.75 billion (nearly US$ 5.1 billion) in total, doubling
4459-465: The cap for the season. Bhuvneshwar Kumar and Dwayne Bravo are the only players to have won the award twice. Harshal Patel of Punjab Kings who took 24 wickets during the 2024 season , is the most recent winner of the award. The Most Valuable Player award, formerly called the "Man of the Tournament" until the 2012 season, is awarded using a ratings system introduced in 2013. Sunil Narine won
4550-411: The conclusion of the 2017 Indian Premier League , the IPL's business value grew by 37% to an all-time peak of $ 5.3 billion, exceeding the five-billion-dollar mark for the first time in a season. According to the company's director Savio D'Souza: Now in its 11th season, the Indian Premier League is here to stay. The league has delivered financially for the players, franchisees, sponsors, and India as
4641-408: The construction of a new steel plant for Tata Steel on land historically owned by them. Some of the villagers had been evicted without adequate relocation. Police retribution was brutal: 37 protesters were injured and 13 killed, including 3 women and a 13-year-old boy. One policeman was hacked to death by a mob after police had opened fire on protestors with tear gas and rubber bullets. Family members of
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#17327980525114732-427: The contributing factors in the rapid growth of the IPL's value was a new television deal with Star India Private Limited, which engaged more viewers because the IPL was transmitted to regional channels in eight languages; under the previous deal, the transmissions were limited to sports networks with English-language commentary. According to an independent report conducted by Brand Finance, a London-based company, after
4823-672: The deceased villagers later claimed that the bodies had been mutilated during post-mortem examination. In December 2006, Myanmar's chief of general staff, General Thura Shwe Mann, visited the Tata Motors plant in Pune. In 2009, Tata Motors announced that it would manufacture trucks in Myanmar. Tata Motors reported that these contracts to supply hardware and automobiles to Burma's military were subsequently criticised by human rights activists. The Singur controversy in West Bengal
4914-414: The donation, the building which houses TIGS has been named Tata Hall. It is also the largest international donation made to University of California, San Diego. In 2017, Tata Consultancy Services (TCS) donated an unprecedented US$ 35 million grant to Carnegie Mellon University , the largest ever industry donation to the university, to collaborate on promoting next-generation technologies that will drive
5005-584: The ecology of the Bitharkanika mangrove forest. Tata Steel employed mitigation measures set by the project's official advisor, the International Union for Conservation of Nature (IUCN), and the company pledged to "adopt all its recommendations without exception" when conservation organisations asserted that a thorough environmental impact analysis had not been done for the project, which had undergone changes in size and specifications since it
5096-528: The expiry of the contract, due to the two-season suspension of the Chennai and Rajasthan franchises from the league. The BCCI transferred the title sponsorship rights for the remaining two seasons of the contract to Chinese smartphone manufacturer Vivo for ₹ 200 crore (US$ 24 million). In June 2017, Vivo retained the rights for the next five seasons from 2018 to 2022 with a winning bid of ₹ 2,199 crore (US$ 260 million). On 4 August 2020, Vivo canceled
5187-772: The families of Indian soldiers killed in the Kargil War with a commitment of ₹50 crore (US$ 10.65 million ) The company claims to have assisted families whose homes were damaged in the 2006 Gujarat earthquake . Other welfare activities include water purification systems and education resource systems in Indian villages. In 2013, Sahara contributed to the relief efforts in flood-hit Uttarakhand region wherein one lakh bottles of drinking water, juice bottles and food packets along with candles and match boxes were said to be provided by them. There were 25 medical health unit vans equipped with doctors and free medicines made available and It
5278-411: The family fortune." In 1870 with Rs.21,000 capital, he founded a trading company. Further, he bought a bankrupt oil mill at Chinchpokli and converted it into a cotton mill, under the name Alexandra Mill which he sold for a profit after two years. In 1874, he set up another cotton mill at Nagpur named Empress Mill. He dreamed of achieving four goals, setting up an iron and steel company, a unique hotel,
5369-510: The franchises take up the option. Since the 2014 season, player contracts have been denominated in the Indian rupee , before which the contracts were in the US dollar . Overseas players can be remunerated in the currency of the player's choice, at the exchange rate on either the contract due date or the actual payment date. Before the 2014 season, Indian domestic players were not included in the player auction pool. They could be signed up by franchises at
5460-494: The group owns the "Sahara Star" hotel near Mumbai's Chhatrapati Shivaji International Airport . Sahara has interests in insurance and asset management. Sahara India Life Insurance Company Ltd.- has been granted licence by the insurance regulator – the IRDAI on 6 February 2004. With this approval, Sahara India Life Insurance Company Ltd. becomes the first 100% wholly and purely Indian company, without any foreign collaboration to enter
5551-459: The group's global ambitions, Tata Limited opened its first overseas office in London . Following the founder's goals, Western India's first hydro plant was brought to life, giving birth to Tata Power . Yet another dream, Indian Institute of Science was established with the first group of students admitted in 1911. J. R. D. Tata was made chairman of the Tata Group in 1938. Under his chairmanship,
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#17327980525115642-523: The institute's campus in Boston , Massachusetts . The building, now known as Tata Hall, is the largest endowment received by Harvard Business School from an international donor. In 2017, Tata Trusts gifted US$ 70 million to University of California, San Diego and also partnered with it in setting up Tata Institute for Genetics and Society(TIGS) to address some of the world's most pressing issues, ranging from public health to agriculture. In recognition of
5733-402: The international agency "Lippers" in 2012. On 13 August 2012, Sahara India announced the opening of its retail FMCG business named 'Q shop' (Quality shop) with an initial investment of ₹3,000 crores. Sahara also announced hiring 6,00,000 sales personnel and 3,000 customer care executives. At its launch, Subrata Roy said that Sahara had been planning for this venture for the last two years and
5824-442: The investors and discharged its OFCD liability to the tune of ₹ 23,500 crore (US$ 2.8 billion) and only around ₹ 2,260 crore (US$ 270 million) are left against which Sahara has already deposited more than ₹ 12,000 crore (US$ 1.4 billion) which has with interest swelled to ₹ 16,000 crore (US$ 1.9 billion). By 31 August 2012 the date of Supreme Court order, the group repaid majority of its OFCD investors between May
5915-515: The investors while it has ₹ 16,000 crore (US$ 1.9 billion) from Sahara. In October 2014, a shocking revelation was made when only around 4,600 investors in two Sahara group companies had come forward to claim refunds from the Securities and Exchange Board of India (SEBI), which had asked those who had purchased bonds issued by the entities to claim their money. This gave a valid point to Sahara's argument before courts that it had repaid most of
6006-701: The investors who had come forward to claim the investment which they had made in bonds issued by two group companies. He was granted interim bail by the Supreme Court on 26 March 2014 on the condition that he would deposit the huge bail amount of ₹ 10,000 crore (US$ 1.2 billion). Subrata was eventually taken into judicial custody and sent to Tihar jail , along with two other Sahara directors, on 4 March 2014 for failing to deposit ₹ 10,000 crore (US$ 1.2 billion) with SEBI. In Tihar jail, Subrata unsuccessfully tried to sell some of his hotel properties to raise ₹ 10,000 crore (US$ 1.2 billion) for his bail bond. He remained in Tihar jail for more than two years, and
6097-449: The junior Tata took a special interest in developing trade with China. When the American Civil War caused a boom in the Bombay cotton market, Tata and his father joined the Asiatic Banking Corporation . When the tide ebbed, Tata's credit was left desolate. Fortunately, the firm's credit was re-established during the next three years. A share in the lucrative contract for the commissariat of Napier's expedition to Abyssinia in 1868 restored
6188-547: The lake, and then disposing the water back to the lake. This process could interrupt the chemical makeup of the lake. 22 African nations signed a petition to stop its construction. In April 2016, a U.S. Federal Grand Jury awarded Epic Systems a US$ 940 million judgement against Tata Consultancy Services and Tata America International Corp. Filed 31 October 2014; the suit charged that "6,477 unauthorized downloads could be used to enhance Tata's competing product, Med Mantra." In 2017, U.S. District Court Judge William Conley reduced
6279-418: The last date of hearing and by 30 August 2012 the final order. Since these repayments have not been taken into consideration, Sahara maintains that any money paid now will obviously mean a double payment towards one liability. It is also been reported that Sahara has paid ₹ 725.9 crore (US$ 87 million) as TDS (tax deducted at source) to the Income Tax Departments on the interest which along with investment
6370-414: The league sold its media rights for the next 4 seasons for US$ 6.4 billion to Viacom18 and Star Sports , meaning each IPL match was valued at $ 13.4 million. As of 2024, there have been seventeen seasons of the tournament. The current champions are the Kolkata Knight Riders , who won the 2024 season after defeating the Sunrisers Hyderabad in the final . In 2007, Zee Entertainment Enterprises founded
6461-511: The members of the Tata family . The company has attracted controversy for reports of political corruption , cronyism , theft, mass killings, and exploitation of its customers, Indian citizens, and natural resources. The Kerala Government filed an affidavit in the high court alleging that Tata Tea had "grabbed" forest land of 3,000 acres (12 km ) at Munnar . The Tatas provided that they possessed 58,741.82 acres (237.7197 km ) of land, which they are allowed to retain under
6552-403: The most sixes at the end of the season. From 2008 to 2012, the IPL title sponsor was DLF , India's largest real estate developer, which bid ₹ 200 crore (US$ 24 million) for the rights for five seasons. After the 2012 season, PepsiCo bought the title sponsorship rights for ₹ 397 crore (US$ 48 million) for the next five seasons but terminated the deal in October 2015, two years before
6643-453: The new deal's structure, Tata would pay ₹ 335 crore (US$ 40 million) per year while Vivo would pay the deficit of ₹ 163 crore (US$ 20 million) per season. Saudi Aramco brought the rights to advertise on the Purple and Orange caps in 2022. The BCCI pays ten per cent of the auctioned value of players to their national cricket boards. In January 2018, IPL chairman Rajiv Shukla said
6734-472: The proposal. The Competition Commission of India (CCI) approved the acquisition of the entire shareholding in Air Asia India by Tata-owned Air India. The chairman of Tata Sons is usually the chairman of the Tata Group. As of 2020, there have been seven chairmen of Tata Group. Tata Group has helped establish and finance numerous research, educational and cultural institutes in India, and received
6825-476: The red herring prospectus with ROC before issuing the bonds. SEBI in return ordered Sahara's two companies to stop issuing the said bonds and return money to investors. Sahara contested the case in various courts which eventually came to Supreme Court of India. On 14 June 2012, (during the final hearing of the case), the group had provided details of its financials up to 30 April 2012. While the court reserved its order, Sahara claims that it has already paid to 95% of
6916-476: The second highest-valued sports media property worldwide, behind only the NFL , whose new media contracts taking effect in the 2023 season cumulatively fetched US$ 111 billion. In February 2023, Viacom18 announced it would stream the 2023 IPL for free on JioCinema with feeds in 12 languages, including English and regional languages, and in 4K resolution . The same month, The Walt Disney Company reported its loss of
7007-504: The title sponsor for the 2021 IPL season but withdrew again, and was replaced by the Tata Group for the next two seasons. InsideSport reported the BCCI would receive ₹ 498 crore (US$ 60 million) for the 2022 and 2023 seasons from title sponsors. Vivo had previously agreed to pay a higher amount for the last two seasons of its sponsorship contract due to the league's expansion from the 2022 season. According to InsideSport , due to
7098-525: The title sponsorship rights due to the military stand-off between India and China at the Line of Actual Control in July 2020. The withdrawal was also a result of Vivo's market losses due to the ongoing COVID-19 pandemic; Vivo intended to return as the title sponsor for the following three years. Dream11 became the title sponsors for the 2020 IPL for an amount of ₹ 222 crore (equivalent to ₹ 261 crore or US$ 31 million in 2023). Vivo returned as
7189-479: The tournament is provided below: The Orange Cap is awarded to the highest run-scorer at the end of each season. It is an ongoing competition with the current highest-run scorer wearing the cap whilst fielding. The eventual winner keeps the cap for the season. Brendon McCullum was the first player to wear the Orange Cap and Shaun Marsh the inaugural winner of the award. Australian batsman David Warner has won
7280-464: The two companies of Sahara India Pariwar to which Securities and Exchange Board of India had claimed its jurisdiction and objected on why Sahara has not taken permission from it. Sahara has claimed that the said bonds are hybrid product, thus does not come under the jurisdiction of SEBI, instead is governed by Registrar of Companies (ROC) under Ministry of Corporate Affairs , from which the two companies of Sahara has already taken permission and submitted
7371-558: The value of the 2018–2022 contract. The next day, it was announced that Star Sports had renewed its contract for television rights by winning package A, and that a Viacom18 consortium had exclusively acquired the streaming rights by winning both Package B and C. The two contracts for Package A and B are cumulatively valued at around US$ 6.2 billion; with the new contracts, the IPL overtook the Premier League in English football as
7462-495: The verification of the documents of Sahara's investors, which are already provided to them by Sahara India Pariwar. Despite the double payment for single liability, Sahara India has been continuously depositing money of around ₹20,000 crore (including interest earned) in Sahara-Sebi account. The Sahara Welfare Foundation, the social development unit of Sahara India Pariwar, runs social welfare projects. The company assisted
7553-460: The winning team netting ₹ 20 crore (equivalent to ₹ 21 crore or US$ 2.5 million in 2023) and the second-placed team ₹ 13 crore (equivalent to ₹ 14 crore or US$ 1.7 million in 2023). League rules mandate that half of any prize money must be distributed amongst the franchise's players. The IPL has several rules which vary from the established Laws of cricket or those used in other Twenty20 (T20) leagues: As of
7644-484: The year. The group owned an airline, Air Sahara , which it sold to Jet Airways in 2007. In October 2011, Sahara purchased 42.5% of the Force India Formula One team. The team finished as best 4th in the constructors championship in 2016 and 2017. The team went into administration in mid-2018 and was later sold and renamed Racing Point Force India F1 Team . The group runs a school in Pune,
7735-623: Was a series of protests by locals and political parties over the forced acquisition, eviction, and inadequate compensation to those farmers displaced for the Tata Nano plant, during which Mamata Banerjee's party was widely criticised as acting for political gain. Despite the support of the Communist Party of India (Marxist) state government , Tata eventually pulled the project out of West Bengal, citing safety concerns. Narendra Modi , then Chief Minister of Gujarat , made land available for
7826-542: Was also the year of economic liberalization in India , opening up the market to foreign competitors. During this time, Tata Group began to acquire several companies. Tata Group bought Tetley In February 2000. After that, it acquired Corus Group in 2007. In the year 2008, it acquired Jaguar and Land Rover . The company's subsidiary Tata Motors launched the Tata Nano which they presented as "the world’s most affordable car" in 2008. In 2017, Natarajan Chandrasekaran
7917-593: Was appointed chairman. He was instrumental in restructuring business verticals and increasing promoter stake ownership in companies. Under his leadership, the group made acquisitions through insolvency law and investments in E-commerce, expanded its airline business by winning a bid for Air India , and completely bought Air Asia India . He has mentioned the future strategy is to focus on healthcare, electronics, and digital. Tata Owned Air India got approval to acquire AirAsia India , nearly two months after putting forth
8008-536: Was first proposed. In 2007, Tata Group joined forces with a Tanzanian company to build a soda ash extraction plant in Tanzania. Environmental activists oppose the plant because it would be near Lake Natron , and it has a very high chance of affecting the lake's ecosystem and its neighbouring dwellers, jeopardising endangered lesser flamingo birds. Lake Natron is where two-thirds of lesser flamingos reproduce. Producing soda ash involves drawing out salt water from
8099-485: Was opening 'Q shops' in major cities across the country to provide adulteration-free consumer merchandise including processed food and beverages to buyers. The group said it would set up 305 warehouses in 285 cities in a phased manner. Sahara India Pariwar's Sahara Q Shop entered into the Guinness World Records when it opened 315 outlets in 10 states of India, at once on 1 April 2013. The group owns
8190-408: Was released on parole in May 2016 to attend the last rites of his deceased mother. On 1 July 2018, the group revealed that majority of ₹ 20,000 crore (US$ 2.4 billion) of Sahara's money (including the interest) which is with SEBI will be refunded back to Sahara India as the group had already made majority of the payments to its investors. The group also stated that SEBI will be directed to start
8281-698: Was repaid to 95 percent of the investors, between 2009–10 and 2012–13. The income tax authorities had found that the beneficiary investors were existent and accordingly confirmed the repayments made in those particular years. One of Sahara's arguments in the apex court revolves around the fact that if one government body has found investors, why can't the other. The case itself comprises big numbers such as collection of over ₹ 24,000 crore (US$ 2.9 billion) from three crore individuals, while once in 2013 Sahara sent 127 trucks containing 31,669 cartons full of over three crore application forms and two crore redemption vouchers to SEBI office. Apparently, this had resulted into
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