SC extends interim Subrata Roy's parole till 24 October, asks him to pay Rs200 crore
28 September 2016
The Supreme Court today extended the parole of Sahara Group chief Subrata Roy till 24 October on condition that he deposits Rs200 crore within that time.
The apex court also asked Roy's lawyer to give a roadmap on how he will pay the remaining amount of approximately Rs12,000 crore to Sebi.
The apex court had, earlier on 23 September, ordered Roy to be taken into custody till 3 October, but gave a reprieve on Sahara furnishing a bond and stayed his arrest till 30 September.
A two-judge bench headed by Chief Justice Tirath Singh Thakur passed the order after hearing an application filed by Roy's counsel Kapil Sibal, seeking a reprieve for Roy on the ground that he would follow all rules and regulations.
Sibal had tendered an unconditional apology to the apex court and urged it to cancel its order on Roy's parole delivered in the morning, following which the court agreed to hear the matter.
Roy had been out on parole since May after serving a two-year term in Delhi's Tihar Jail to hold the last rites of his mother, who passed away after a prolonged illness.
The apex court had asked Sahara India to reveal the source of the Rs18,000 crore it had claimed to have paid back to the investors so far.