Supreme Court extends Sahara chief Subrata Roy's parole
In its January 12 hearing, the SC had refused to extend his parole and asked him to deposit Rs 600 crore with Sebi or go back to jail.
The Supreme Court (SC) has extended the parole of Sahara chief Subrata Roy yet again. In its hearing on Monday, Roy's parole - he has been out of jail since May 5, 2016 last year after his mother expired - the apex court extended his parole again.
The extension came after Sahara India deposited the Rs 600 crore with with the Securities and Exchange Board of India (Sebi).
It also ordered attachment of Sahara Group's prime property Aamby Valley, which is worth Rs 39,000 crore, according to an alert by The Times of India. The next hearing will take place on February 20.
The apex court has also asked Sahara to submit a list of unencumbered properties that could be auctioned to realise the remaining Rs 14,000 crore principal amount.
In a hearing of January 12, the SC had refused to give Roy an extension on his parole and asked him to deposit Rs 600 crore with Sebi.
Roy and his lawyers were directed to deposit the amount for granting him an extension in bail last year. Roy who has been out on bail since May 5 last year after his mother passed away, will have to commit himself to jail if he fails to deposit the amount, the Supreme Court said on Thursday.
Roy, while responding to the Supreme Court in the last hearing, had cited the government's demonetization move and a slowdown in the economic growth as grounds for seeking an extension to deposit Rs 600 crore.
The SC gave him the liberty to transfer Rs 285 crore deposited in London Bank to market regulator Sebi.
SC while hearing the Sahara - Sebi case, said "too much indulgence had already been given to the Sahara chief, more than any other litigant."
It is still unknown whether Roy or Sahara India has managed to deposit the said amount or not.