Subrata Roy seeks SC’s permission to travel overseas

Roy’s lawyer sought a permission to travel abroad,saying all documents had been given to Sebi and he may be allowed to go abroad.

Written by Express News Service | New Delhi | Published:January 3, 2014 2:09 am

Put under restriction to fly abroad,Sahara chief Subrata Roy approached the Supreme Court on Thursday,seeking its permission to travel overseas for business purposes.

The apex court had restrained Roy and other Sahara group directors from travelling overseas over their failure to refund around Rs 20,000 crore,raised illegally through debentures,to investors.

A bench of Justices KS Radhakrishnan and JS Khehar said that the court would hear his plea on January 9 when the main case for handing over title deeds of Rs 20,000 crore of group’s unencumbered properties to market regulator Sebi is also scheduled.

Roy’s lawyer sought a permission to travel abroad,saying all documents had been given to Sebi and he may be allowed to go abroad.

On being asked by the bench as to what was the urgency,Roy’s lawyer told court that Roy had business meetings abroad which included meeting an ex-President of US on December 18 but it was later cancelled because he could not leave India without the court’s nod. The counsel assured the court that Roy will be back to India in three days’ notice.

In November last,the court had restrained Roy and other directors from leaving the country and also prohibited all its companies from selling any property until further orders.

The order was passed in view of Sahara’s failure to hand over “acceptable” title deeds of properties worth Rs 20,000 crore to the Securities and Exchange Board of India (Sebi) for refunding its around three crore investors.

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