SC Declines Sahara Chief's Plea for Release - The New Indian Express

SC Declines Sahara Chief's Plea for Release

Published: 13th March 2014 04:32 PM

Last Updated: 13th March 2014 04:35 PM

Sahara group chief Subrata Roy will stay in Tihar jail for some more time as the Supreme Court Thursday declined his plea for release on a personal bond with an assurance that he will not leave the country.

The apex court bench of Justice K.S. Radhakrishnan and Justice J.S. Khehar reiterated their earlier order as they asked senior counsel Ram Jethmalani if there was any proposal by the Sahara chief to deposit the balance of Rs.19,000 crore to SEBI for resumption of investors money.

When Jethmalani told the court that Roy was prepared to pay an amount of Rs.2,500 crore as part payment of the outstanding amount, the court refused to accept the offer.

A similar offer made earlier by Sahara was rejected as unacceptable by the court.

Also Read:

Subrata Roy to Stay in Jail as SC Adjourns Hearing

SC Agrees to Hear Sahara Group's Plea for Release of Subrata Roy

Sebi Finds Large-scale Mismatch in Sahara Papers  

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