Sahara chief Subrata Roy offers 300 crore more for regular bail

A bench led by Chief Justice T S Thakur directed that the matter be listed next week after senior advocate Kapil Sibal, appearing for Roy, mentioned the matter before it.

By: Express News Service | New Delhi | Updated: October 21, 2016 7:20 pm
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Sahara chief Subrata Roy Friday offered in Supreme Court to pay an additional Rs 300 crore to Sebi but said that this amount should be adjusted as bank guarantee that he required to furnish for a regular bail.

A bench led by Chief Justice T S Thakur directed that the matter be listed next week after senior advocate Kapil Sibal, appearing for Roy, mentioned the matter before it. “I am ready to pay additional Rs 300 crore but this amount should be adjusted as a bank guarantee,” Sibal told the bench that also comprised Justices A M Khanwilkar and D Y Chandrachud.

WATCH VIDEO: Sahara Chief Subrata Roy’s Parole Extended Till November 28

 

On August 3, the Supreme Court had extended Roy’s parole till September 16 on the condition that he deposit Rs 300 crore more with the Sebi. Roy was given parole in May with a stipulation of depositing Rs 500 crore with Sebi for refunding investors by August first week.

On being informed that he has complied with the order, the court had extended the parole further, asking him to deposit another Rs 300 crore by September 16. The Sebi also informed the court that Rs 195 crore has been generated by it to date by selling Sahara properties through e-auction.

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