Supreme Court extends parole of Subrata Roy, asks him to pay Rs 300 crore more

NEW DELHI(PTI): The Supreme Court on Monday extended parole to Sahara Group owner Subrata Roy till August 3, while warning him that he has been granted parole on humanitarian ground and it shouldn’t be misused.

SC also asked the eminent businessman to pay Rs 300 crore more.

Sahara India chairman got parole on May 6th, on account of his mother’s death. It was later extended till July 11 and the court asked him to deposit Rs 200 crores with SEBI.

Subrata Roy has been in Tihar jail since the last two years in the case of defrauding small investors of Rs 36,000 crore by way of a ponzi scheme. Out of this amount, he has paid up to Rs 12,000 crore to Sebi in lieu of the financial irregularities.

Earlier, Roy’s counsel had presented details of his personal wealth, immovable assets and other precious assets in gold, euro and dollar to SC bench comprising of Chief Justice T S Thakur and Justices A R Dave and A K Sikri.The apex court had expressed disbelief and demanded to know why he chose to stay in jail when his assets could have covered the bail amount.

Posted by on July 11, 2016. Filed under Economy. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.