In a further setback to Sahara group chief Subrata Roy, the Supreme court on Monday deferred hearing in his case which was slated for Tuesday, apparently in the absence of any concrete refund proposal that could prolong his stay in the jail indefinitely.
On the last date of hearing on March 7th, the apex court had asked the Sahara group to come out with “honourable proposal” for depositing Rs 20,000 crores of investors money and posted the hearing on March 11th.
His lawyers were also told that they can raise the issue of Roy’s request to be sent to police custody be taken up on Tuesday.
The cause list put on the apex court website on Monday, however, showed that the case, which was listed before a special bench of justices K S Radhakrishnan and J S Khehar, “stands deleted and the same is adjourned”.
The reason for the adjournment has not been disclosed and Sahara group’s lawyer expressed surprise over it. The Sahara group may mention the issue on Tuesday before an appropriate bench to get the matter listed at the earliest.
The special bench had on March 4th sent Roy and two Directors Ravi Shankar Dubey and Ashok Roy Choudhary to judicial custody till March 11th while expressing unhappiness over the proposal of his group on the refund of investors’ money.
It had rejected Sahara’s proposal which had offered to pay Rs 2,500 crore within three days and the rest of the amount in five instalments by the end of July, 2015.
“It is not a proper proposal and the proposal should be honourable,” the bench had said.
The market is considered the largest cloth market in Asia and it houses a number of textile units and factories.