After months of legal wrangling, Sahara: The Untold Story, which chronicles the rise and fall of business tycoon Subrata Roy, was released on Monday in Mumbai in the presence of former top regulators who termed the book a flashpoint in raising a debate on shadow banking, which operates beyond the purview of banking regulation.
The publication of the book was put on stay after Sahara moved the Calcutta High Court last December while lodging a Rs. 200-crore defamation suit against the author, financial journalist Tamal Bandyopadhyay, and the publisher, Jaico. Mr. Roy is currently in jail for failing to refund investors.
Sahara recently withdrew its legal suit against the publisher but with the condition of settlement that the book would carry a disclaimer by the Sahara Group.