Supreme Court grants another parole to Subrata Roy

Photo of Sahara Group chief Subrata Roy.

New Delhi: The Apex Court today extended the parole of Sahara Group chief Subrata Roy and asked him to deposit another Rs 200 crore till November 28th.

The bench of Chief Justice T.S. Thakur, Justice Anil R. Dave and Justice A.K. Sikri asked Sahara to deposit the remaining amount after senior counsel Kapil Sibal submitted a draft of Rs 215 crore as ordered on September 28.

The Supreme Court Sahara chief to deposit another Rs 200 crore by November 28, as it extended its interim order granting him parole in connection with return of money to Sahara investors.

The Sahara chief was sent to jail on May 4, 2014, for his failure to comply with a 2012 order and directing him to return investor’s Rs 17,600 crores with 15 percent interest that his two companies Sahara India Real Estate Corp Ltd and Sahara Housing Finance Corp Ltd had raised through optionally fully convertible debentures (OFCD) in 2007 and 2008.

Sahara has returned a total of Rs 18,000 crores to its investors till now.