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24 September 2014

Can Indian tycoon Subrata Roy sell New York’s Plaza Hotel and get out of jail? |

Subrata Roy is one of India’s richest men, runs one of its biggest companies and lives on a 300-acre estate complete with a giant lake and its own hospital. But since February, Roy, 65, has been a resident of New Delhi’s feared Tihar jail — the largest prison complex in South Asia — accused of running an illegal $4 billion investment scheme. Instead of being incarcerated alongside hardened criminals, Roy has been living like a VIP. The court has allowed him to set up shop in an air-conditioned conference room as he tries to negotiate the sale of some of his iconic hotel properties — including New York’s Plaza Hotel — to raise $1.6 billion to pay back investors and secure his release by the end of the month.

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LegalReal Estate & InvestmentUSA & CanadaUnited StatesNYNew York

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