Subrata Roy’s Parole Extended, Will Pay Rs 1,500 Cr by 15 June
The Supreme Court has extended Subrata Roy’s parole till 19 June.
Sahara chief Subrata Roy appeared in front of the Supreme Court on Thursday in compliance of its order from 17 April in connection with a case over returning money to Sahara’s investors.
Appearing in front of the apex court, Roy committed to paying Rs 1,500 crore in SEBI-Sahara account on or before 15 June. He furnished a post-dated cheque of Rs 552 crore to be realised by 15 July in this regard.
Extending Roy’s parole, the court ordered him to appear before it again on 19 June for the next date of hearing and also asked the Bombay HC's official liquidator to prepare terms for auctioning of Sahara’s Aamby Valley property for its approval on 19 June.
Earlier on 17 April, the Supreme Court ordered the auction of Sahara’s Aamby Valley township over the conglomerate’s failure to deposit money for refunding to its investors.
In March, the Supreme Court had directed the Sahara Group to deposit Rs 5092.6 crore by 7 April in the SEBI-Sahara account to keep its chief Subrata Roy out of jail. The amount was meant be refunded to investors in Sahara’s schemes.
(With inputs from PTI.)
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