A three-member Bench headed by Chief Justice TS Thakur rejected Roy's offer to pay Rs 200 crore in a month, observing that at this rate he would take about 10 years to return just the principal amount, which was not acceptable.
Sahara group chief Subrata Roy was directed by the Supreme Court to deposit Rs 300 crore with the market regulator Securities and Exchange Board of India (Sebi) to stay out on bail while extending his parole till September 16.
A three-member Bench headed by Chief Justice TS Thakur rejected Roy's offer to pay Rs 200 crore in a month, observing that at this rate he would take about 10 years to return just the principal amount, which was not acceptable.
The court said it was "tired of the games being played" by the group by making several promises only to dishonour these subsequently. "You have repeatedly failed to honour your promises. If you persist with this, you will be back in jail," the Bench also made the remark.
Sahara claimed it can pay the principle amount in 18 months if given freehand and said the deal for selling of overseas hotels is on.
Roy's counsel, senior advocate Kapil Sibal, however, said his client would repay the entire amount in 18 months as many of the properties, including the three luxury hotels in London and New York, were likely to be sold soon.
Sibal pleaded with the court not to specify in its order that Roy would have to go back to jail, but the Bench said "it goes without saying".
The apex court had ordered the release of Roy on parole on May 6 for performing the last rites of his mother Chhabi Roy and since then he has been getting extension by promising to return specified amounts.
Roy had been in jail since March 4, 2014, for his companies' failure to return the funds collected in the form of debentures, declared as illegal subsequently by stock market regulator Securities and Exchange Board of India and the Supreme Court.
The Bench allowed the 67-year-old Roy to dispose of any of his properties, provided the sale price was not less than 90 per cent of the market value.
In the meantime, SEBI informed the bench that eight out of 68 properties of Sahara which has fetched Rs195.07 Cr.
The court allowed SEBI to go for 2nd round of e-auction of Sahara properties and directed Sahara to provide the list of minimum price of properties before bid. Sahara told the court that SEBI shall not sell property below 110% of circle rate.
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 "Subrata Roy")
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