Ready to pay Rs 300 crore to Sebi: Sahara chief Subrata Roy tells SC

Sahara chief Subrata Roy has informed the Supreme Court about his willingness to pay an additional Rs 300 crore to secure an extension of his parole till September 16, Zee Business reported. 

Subrata Roy, who spent two years in Tihar Jail, has been out on parole since May 6, after his mother passed away after a prolonged illness. While the Sahara chief was initially granted parole to conduct the last rites of his mother, it was later extended to September 16 on the condition that he deposits Rs 300 crore with the markets regulator Securities and Exchange Board of India (Sebi). 

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 Sebi and the Supreme Court.

However, Roy said that the additional Rs 300 crore should be adjusted with the bank guarantee. Roy was ordered to pay Rs 5,000 crore as bank guarantee as a part of his Rs 10,000-crore bail amount, a LiveMint report said. Out of this, over Rs 3,000 crore has already been paid to Sebi.

"Ready to pay additional Rs 300 crore which should be adjusted with bank guarantee," Roy said, according to Zee Business.