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Supreme Court asks NCT government to make arrangement for Subrata Roy to meet buyers of his properties in Tihar

Friday, 25 July 2014 - 6:56pm IST | Agency: PTI

The Supreme Court today asked the Delhi government to explore a venue within Tihar jail complex where Subrata Roy can hold negotiations with buyers of his properties by meeting them personally or through video conferencing.

A special bench headed by Justice T S Thakur asked the government to talk to jail authority to explore the venue but made it clear that the arrangement would be done only for holding negotiations and not for giving any comfort to Roy who has been in jail for nearly five months.

The bench asked the government, which said arrangement can be made in the guest house or court room inside jail, to respond by July 30.

Roy pleaded that he is committed to follow apex court's direction and sought its permission for shifting to Tihar jail guest house for a week to enable him to hold negotiations to sell his properties in India and abroad to raise Rs 10,000 crore to get regular bail.

Roy submitted that prospective buyers want him to be present during all negotiations and said that he will also need computer and Internet connection.

The apex court on Tuesday had refused to release Roy, who has been behind bars for nearly five months, on interim bail or parole but had allowed selling of his luxury hotels in New York and London to raise money to deposit Rs 10,000 crore with SEBI as directed to get regular bail. 

The apex court, however, had assured 65-year-old Roy that it will allow him to go out of jail only during day time under police custody to hold negotiations with buyers to dispose of his properties.

The bench, also comprising justices Anil R Dave and A K Sikri had asked him to approach the court when there is a proposal and assured him that suitable arrangements would be made by it.

The bench, which had earlier allowed Sahara to sell nine properties in the country, permitted it to sell hotels Dream Downtown and The Plaza in New York and Grosvenor House in London.

It also appointed senior advocate Shekhar Naphade as amicus curiae to assist the court in dealing with the case in which the group is supposed to pay around Rs 37,000 crore to wind up the proceedings in the apex court.

Roy, who was sent to jail on March 4 this year for non- refund of over Rs 20,000 crore to depositors, was asked by the court to pay Rs 10,000 crore to get bail, out of which Rs 5,000 crore in cash and rest of the amount in bank guarantee.

Sahara has so far raised Rs 3,117 crore which has been deposited with the market regulator. The group, however, has been claiming that it has already repaid money to 93 per cent investors




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