SC extends Sahara chief Subrata Roy’s parole till July 11
The Sahara chief was released on parole for four weeks on May 7 to attend the religious rituals of his mother who had died a day earlier.india Updated: May 11, 2016 16:00 IST
The Supreme Court on Wednesday extended till July 11 the parole of Sahara chief Subrata Roy to enable him to deposit Rs 200 crore with SEBI.
The court also asked Roy and Sahara Group director Ashok Roy Chaudhary to furnish individual undertaking that they are serious in the effort.
The Sahara chief was released on parole for four weeks on May 7 to attend the religious rituals of his mother who had died a day earlier.
In its order, the Supreme Court also said that if Roy and Chaudhary failed to deposit Rs 200 by July 11, they will have to surrender and go back to Tihar jail.
The duo are free to meet prospective buyers of properties and move within the country in police escort as per May 6 order, the court said.
A special bench headed by chief justice TS Thakur allowed Roy’s plea to participate in the rituals. Roy has been in Delhi’s Tihar jail since March 2014.
The top court sent him to jail after he failed to show up in court subsequent to a warrant issued against him. The top court had summoned the Sahara chief after his two companies failed to reimburse money to investors in compliance of an October 2013 verdict which declared Sahara’s two financial schemes invalid.