SC extends Sahara chief Subrata Roy’s parole till October 24

NEW DELHI: The apex court on Wednesday extended the parole of Sahara chief Subrata Roy till October 24, but asked him to pay a deposit of Rs 200 crores with SEBI by that time. SC has also asked Roy’s lawyer to give a roadmap of how Sahara plans to give back Rs 1200 crore to SEBI.

Earlier on September 23, Supreme Court had ordered that Roy should be taken into custody till October 3, but in a reprieve stayed his arrest till September 30. Kapil Sibal, sought reprieve for Roy on the grounds that the Sahara chief would follow all rules and regulations. However, the two-judge bench headed by Chief Justice Tirath Singh Thakur turned down his application then.

The Supreme Court was angry with Roy’s counsel then and had thus asked him and other two directors of his company to surrender within a week time.

Roy had been out on parole since May after serving a two-year term in Delhi’s Tihar Jail to hold the last rites of his mother, who passed away after a prolonged illness. In one of the last hearings, his bail was extended till September 16 on the condition that the Sahara Group deposit Rs 300 crores with the apex court. The apex court had asked Sahara India to reveal the source of the Rs 18,000 crore it had claimed to have paid back to the investors.

With agency inputs

Posted by on September 28, 2016. Filed under Nation. You can follow any responses to this entry through the RSS 2.0. Both comments and pings are currently closed.