Monday, Sep 22, 2014

SP: Centre acting out of vengeance

Seemanto Roy, Subrata  Roy’s son, addresses the media, in New Delhi, Friday. Ravi kanojia Seemanto Roy, Subrata Roy’s son, addresses the media, in New Delhi, Friday. Ravi kanojia
Written by Ruhi Tewari | New Delhi | Posted: March 1, 2014 2:50 am

On a day Sahara group chief Subrata Roy was arrested by the Lucknow Police, the Samajwadi Party Friday termed the events us “unfortunate” and claimed the Centre was acting out of “vengeance”.

“Whatever is happening is very unfortunate. It shows vengeance on the part of the central government. It also seems SEBI is not revealing all the facts and is working with a feeling of revenge too,” SP leader and MP Naresh Agarwal said. He said it was difficult to understand how Roy, who was just a shareholder and not the director, become the culprit. Roy is perceived to have a good relationship with the SP leadership, which is currently in power in Uttar Pradesh.

The Supreme Court had on Wednesday ordered Roy’s arrest for his production in court on March 4 over the group’s failure to refund investors’ money. The apex court is hearing SEBI’s contempt petitions against Sahara for its failure to refund Rs 24,000 crore to its investors.

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