SC relief comes as he pays Rs 790 cr
In a reprieve to Sahara chief Subrata Roy, the Supreme Court today extended his parole till July 5 after he deposited Rs 790 crore of the Rs 1,500 crore promised to the court.
The order came from a Bench headed by Justice Dipak Misra which agreed to Roy’s senior counsel Kapil Sibal’s request to give him 10 more working days to pay the rest amount. Sibal told the Bench that Rs 790.18 crore had already been deposited with the SEBI-Sahara account.
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Roy had earlier deposited two cheques for Rs 1,500 crore and Rs 552.22 crore to SEBI. Angry over the non-payment of money, the SC had on April 17 decided to sell property worth Rs 34,000 crore belonging to Sahara Group in Maharashtra’s Aamby Valley and had sought Roy’s presence before it. In November last, it had asked Roy to deposit Rs 600 crore more by February 6 in the refund account to remain out of jail and warned that failure to do so would result in his return to prison.
Roy was sent to Tihar Jail on March 4, 2014. But the SC had on May 6, 2016, granted a four-week parole to Roy to attend his mother’s funeral. His parole has been extended by the court ever since. Besides Roy, two directors — Ravi Shankar Dubey and Ashok Roy Choudhary — were also arrested for failure of two group firms to comply with the court’s August 31, 2012, order to return Rs 24,000 crore to their investors. — TNS
Via The Tribune