Supreme Court asks Sahara to deposit Rs 5092.6 crore to keep Subrata Roy out of jail

The bench refused to give six months time to the group to sell its properties but allowed it to sell assets, mentioned in the list furnished by it, for refund of money.

Published: 28th February 2017 10:47 PM  |   Last Updated: 28th February 2017 10:47 PM   |  A+A-

Sahara Group chief Subrata Roy (File|AFP)

By Express News Service

NEW DELHI: The Supreme Court on Tuesday directed the Sahara Group to deposit Rs 5092.6 crore by April 7 in the SEBI-Sahara account to keep its chief Subrata Roy out of jail and said the amount will be refunded to the investors.

A bench headed by Justice Dipak Misra refused to give six months time to the group to sell its properties but allowed it to sell assets, mentioned in the list furnished by it, for refund of money.

However, the bench, also comprising Justices Ranjan Gogoi and A K Sikri, observed that in case the group deposits a "substantial amount" out of Rs 5092.6 crore by April 7, the court may extend the time to sell other properties.

The judges said the group can sell 13 out of the 15 properties mentioned in one of the lists to deposit the amount and can also sell properties, which are unencumbered, and mentioned in the other list given by it.

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