Sahara Chief Subrata Roy Moves SC for Cancellation of NBW

The order to arrest Roy was issued on February 26 for his failure to appear before the apex court in a contempt case arising out of non refund of Rs 20,000 crore to investors by  two of his companies.   

Published: 27th February 2014 04:47 PM  |   Last Updated: 27th February 2014 07:38 PM   |  A+A-

Subrata-Roy_AP
By PTI

Sahara Chief Subrata Roy, today moved to Supreme Court seeking cancellation of non-bailable arrest warrant issued against him and undertook to appear before it on March 4.            

The order to arrest Roy was issued on February 26 for his failure to appear before the apex court in a contempt case arising out of non refund of Rs 20,000 crore to investors by  two of his companies.     

The Sahara Chief has offered unconditional apology to the apex court for his non-appearance.        

Roy also sought recall of the apex court's order in which non bailable warrant was issued against him and police was ordered to arrest and produce him before it on March 4.       

A bench of justices K S Radhakrishnan and J S Khehar had rejected Roy's plea to exempt him from personal appearance on the ground of ill-health of his 92-year-old mother.          

Senior advocate Ram Jethmalani, who had appeared for Roy, had produced a medical certificate from Sahara Hospital, Lucknow, on the condition of Roy's mother and recommended that he be allowed on "humane as well as medical grounds" to be with his mother at this stage.             

The bench had said since it had on February 25 declined to grant exemption, it did not find reason to accede to the renewal of the request.            

The three directors of Sahara Group, who were also summoned along with Roy, had appeared in the court.       

The court had on February 20 come down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order and summoned Roy, Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) to be personally present before it.   

Sahara deposited Rs. 5,120 crore with SEBI in December 2012.

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