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SC extends Subrata Roy’s interim bail, says pay Rs 600 crore by Feb 6 or go back to jail

On October 25, the top court had extended Subrata Roy's parole till November 28 after the company deposited Rs 200 crore with the SEBI for the repayment of investors.

By: Express Web Desk | New Delhi | Updated: November 28, 2016 6:45 pm
subrata roy, subrata roy bail, subrata roy parole, sahara, supreme court, sahara controversy, subrata roy jail, SEBI Sahara chief Subrata Roy on stepping out for his parole in October

In a big relief to Sahara chief Subrata Roy, the Supreme Court on Monday extended his interim bail and ordered him to pay Rs 600 crore to SEBI by February 6, 2017 if he wishes to remain out of jail. The court said Roy, who is out on parole as of now, will have to surrender if he fails to make the payment.

The court further asked SEBI and amicus curiae Shekhar Naphade to respond to the fresh repayment plan submitted in the court by the Sahara chief. The bench said it will consider appointment of a receiver to auction the company properties.

On October 25, the top court had extended Roy’s parole till November 28 after the company deposited Rs 200 crore with the SEBI for repayment of investors. After spending over two years in jail, Roy was released on parole when his mother died in May this year. His parole, as well as that of directors Ashok Roy Choudhary and Ravi S Dubey, was subsequently extended on the condition that they should deposit money for refunding investors at regular intervals.

Meanwhile, the regulator SEBI put up as many as five parcels of land of the company for e-auction in a bid to recover money through the sale of Sahara assets. Earlier, 13 properties were put on the block in October and their combined reserve price was about Rs 1,400 crore. Prior to that, 58 properties were auctioned in July with a collective reserve price of nearly Rs 5,000 crore.

(With inputs from PTI)

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  1. Kulmohan Singh
    Nov 28, 2016 at 11:26 am
    Oye! Supreme Court Ji...., why not first things first Ji...., how about justice for 1984 riots victims which comes much before Sahara scam in chronological order ? Can you jail Jagdish Tytler and Sajjan Kumar first befor you extend the custody of Subrata Roy ?
    1. W
      Nov 28, 2016 at 4:27 pm
      So easy for him to get the old currency at less than 1/2 of the actual value.
      1. A
        Nov 29, 2016 at 12:38 am
        Send him back to jail this compulsive and shameless crook is only buying time.
        1. K
          Nov 28, 2016 at 1:51 pm
          Subrata should ask Mamta to bail him out, most of that money is sitting in some unknown bank in secrecy, it will come back when the illegal Bangla Deshis are given an opportunity to vote. "Sarada kho Sahara Chahiye!"
          1. Joseph R Stephen
            Nov 28, 2016 at 7:14 pm
            All citizens should reember it is Supreme court with single minded purpose has been going after this crook and trying to get the money back to the small investors.lt;br/gt;lt;br/gt;lt;br/gt;The BJP government has not done any surgical strikes to collect the money.lt;br/gt;The BJP government let Mallya escape from India.lt;br/gt;The BJP government let Lalit Modi escape from India.
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