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Pay Rs 300 Cr by 16 Sep or Go Back to Jail: SC to Subrata Roy

Sahara has already sold properties worth around Rs. 195 cr. 

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The Supreme Court on Wednesday extended the parole of Sahara chief Subrata Roy till 16 September with a condition that he has to deposit Rs 300 crore with Security and Exchange Board of India (SEBI).

During the hearing, the bench made it clear that failure to deposit Rs 300 crore by the next date of hearing would lead to Roy going back to the jail.

The direction for depositing the amount came after Roy complied with the order of 11 July by which he was asked to deposit the balance of Rs 300 crore, out of the Rs 500 crore promised by him when he was granted parole on humanitarian grounds following the death of his mother.

The bench, also comprising Justices A R Dave and A K Sikri, has allowed the Sahara group to go ahead with sale and alienation of their properties to raise an amount of Rs 5,000 crore as a bank guarantee which they have to deposit in addition to Rs 5,000 crore to get bail for Roy.

The hearing also saw SEBI telling the bench that till now Rs 195.07 crore has been generated by it by selling Sahara properties through e-auction.

(With inputs from PTI.)

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Topics:  Subrata Roy   Supreme Court   Sahara 

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