22 July-2014, NDTV: The Supreme Court on Tuesday refused to grant bail to Sahara Group…
NEW DELHI: The Supreme Court has refused to extend Sahara chief Subrata Roy’s parole anymore, and has directed that he be taken into custody again. Along with Roy, the SC has also cancelled the parole of two other Sahara directors.
The apex court was slated to hear the Securities and Exchange Board of India’s application to appoint a receiver for attaching the properties of Roy.
A bench headed by Chief Justice T S Thakur got infuriated when senior advocate Rajeev Dhavan, appearing for Sahara, said they have not been involved in the process of selling of properties by Securities and Exchange Board of India (SEBI), a PTI report said.
“If you want to be heard, you go to jail. Don’t tell us what to do. All interim arrangements stand cancelled. Condemners are directed to be taken into custody,” the bench, also comprising Justices A R Dave and A K Sikri, said, it added.
Dhavan said that the SC’s statement wasn’t fair since Sahara India had already deposited Rs 352 crore according to the last direction of Rs 300 crore, which is Rs 52 crore more.
The Sahara chief has been out on parole since May after he allowed to leave jail to perform the last rites of his mother, who passed away in May after a prolonged illness.
The Supreme Court had extended Roy’s parole to September 16 on the condition that the Sahara Group deposited Rs 300 crore with it. It then extended his parole till September 23.
At the same time, the apex court had also asked Sahara Group to reveal the source of the Rs 18,000 crore it claims to have paid back to the investors.
Counsel appearing for Sebi said that 58 properties were put on auction and they had sold eight of them raising Rs 137 crore.
The Sebi counsel said the list of properties given by Sahara to them were those which were already attached.
To this, the bench told the Sahara counsel “You gave a list of properties which are already attached and you are not cooperating. It’s better you if you go to jail.” The bench asked Sahara chief to deposit Rs 300 crore to be allowed to remain on bail.
Dhavan then suggested that the matter be posted for hearing on September 30 when they would argue on it.
Soon after the bench passed the order directing that Roy and the others — Sahara directors Ashok Roy Choudhary and Ravi Shankar Dubey, be taken into custody, Sahara withdrew its counsel and apologised before the bench.
The Chief Justice said that some people play with the dignity of the court and there are some lawyers who are disrespectful towards the court.