Monday, Sep 22, 2014

Subrata Roy seeks 10 more days to finalise sale of 3 luxury hotels abroad

Sahara Group's hotel deal with the Sultan of Brunei is on the verge of the collapse. (Reuters) Sahara Group's hotel deal with the Sultan of Brunei is on the verge of the collapse. (Reuters)
Written by Utkarsh Anand | New Delhi | Posted: September 5, 2014 11:20 am | Updated: September 5, 2014 11:25 am

Subrata Roy moved Supreme Court on Friday, asking for 10 more days for negotiating to sell three Sahara hotels abroad.

Roy’s counsel pleaded that the Sahara chief be allowed to stay in the Tihar jail’s conference room for another 10 days instead of being sent back to the cell for completing the deals. The permission for Roy to stay in the conference room is expiring on Tuesday next week.

He said that a deal with the Sultan of Brunei was on the verge of the collapse in view if certain negative media reports but the group was trying to salvage it. The counsel said they were also in talks with some other prospective buyers.

Roy had been allowed to stay in the conference room to enable him arrange Rs 10,000 crore as security to come out on bail. He has been in jail since March 4.

 

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