The Supreme Court on Monday gave beleaguered industrialist Subrata Roy ten more days to deposit the balance of the Rs 1,500 crore that it had ordered him to pay even as it extended his interim bail till July 5. Appearing for Roy, senior counsel Kapil Sibal told a vacation bench of Justices Dipak Mishra and Ranjan Gogoi that his client had already deposited Rs 790.18 crore in the Sebi-Sahara account as directed by the court and requested that he be granted ten more days to pay the remaining Rs 709.82 crore.
Allowing the request, the bench said “if the balance amount is not paid by that date, we will be compelled to send the contemnor (Roy) to the custody and we are sure he shall not give rise to such an occasion.” Extending his interim bail in April, the apex court had asked Roy to cough up Rs 1500 cores if he wanted to remain out of jail.
“As the contemnor has deposited Rs 790.18 crore, we are inclined to extend the time by ten working days so that the undertaking can be complied with. The balance amount i.e. Rs 709.82 crore shall be deposited with the SEBI Sahara Refund Account by 4th July, 2017,” the bench said.
The court had granted Roy four-weeks parole on May 6, 2016 to attend his mother’s funeral. Ever since the court has extended his parole. He was sent to Tihar jail on March 4, 2014 over non-compliance of the SC order asking his companies Sahara India Real Estate Corporation and Sahara Housing Investment Corp Ltd to return Rs 24,000 crore to investors.