SC gives big jolt to Sahara group chief, asked to pay Rs 5,092 crore

Photo of Sahara India group chief Subrata Roy.

New Delhi: In a big jolt to Sahara India group chief Subrata Roy, the Supreme Court today asked world largest family to pay Rs 5,092 crore within the first week of next month to let it group head remain out of jail.

The SC also directed its chief to sell seven out of thirteen properties by April 7th, so that they can raise the amount to let its chief Subrata Roy remain behind the bars.

On other hand, the apex court mentioned that if the group was not be able to sell its properties by the April 7th, then more time will be granted to the Sahara.

Reacting on the same, the SC has asked the Ghaziabad Development Authority (GDA) to pay compensation to the Sahara Group for acquiring its land. With this now GDA will have to pay Rs 1,112 crore to Sahara for acquiring its 91 acres of land from World’s largest family.

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Interestingly, from long time the Sahara Group has been engaged with legal battle with the market regulatory firm Sebi over the refund of Rs 24,000 crore to investors. Earlier, Sebi had told court that Rs 14,779 crore is due from Sahara side towards its principal amount.

A spokespersons from Sahara side told media persons that group has also given a list of its properties to the court which it want to sell for the repayment of the amount which was agreed by the court.

The court has set new schedule date of April 17th to hear the matter in this regards.

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