Sahara Chief Subrata Roy was arrested in Lucknow after he surrendered to police, two days after a non-bailable warrant (NBW) was issued against him by the Supreme Court.
Appearing for Roy in the Supreme Court, senior lawyer Ram Jethmalani told a bench headed by Justice K S Radhakrishnan that 65-year -old Roy was in police custody.
Jethmalani also pleaded with the court for recalling of the NBW issued by it on February 26.
He submitted that the special bench which heard the case be assembled on Friday to hear his application.
Justice Radhakrishnan however, said that it is not possible for the special bench to assemble on Friday.
The order to arrest Roy was issued after 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.
Roy had approached the apex court on Thursday tendering an "unconditional apology" for his non-appearance in the case and sought recall of the non-bailable warrant issued against him.
Roy admitted that he had "erred" by his non-appearance under a bonafide belief that the court will permit him personal exemption from appearance for one day.
Besides seeking recall of the NBW, Roy, in his application, had sought a stay of the operation of its order during pendency of his plea.
Roy had sought exemption from personal appearance on the ground of ill-health of his 92-year-old mother.
However, 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 the 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 Case - Timeline