Sahara chief Subrata Roy parole extended to February
New Delhi: Sahara chief Subrata Roy's parole which was to end on Monday has been extended by the Supreme Court to February 6 under the condition that he will deposit additional Rs 600 crores by that date. The Three-judge bench hearing the case has made it clear to him that if he fails to make the deposit he will be sent back to jail.
He was released on parole following death of his mother four months ago which has been extended several times. The case was heard last in October when the parole was extended till date. The extension was given in the light of promise to deposit additional Rs 200 crores by November 28 which he has done.
He has also submitted the payment plan which has been sent to Security and Exchange Board of India for response. The SEBI had raised the payment dispute in the court.
Five land parcels of the company will be auctioned next month to raise additional sum. Thirteen properties of the group have been already auctioned.
Roy was asked to deposit Rs 24,000 to be returned in investors in 2012. The failure to do so and non-appearance in court agitated the latter and he was sent to jail. After serving two years in jail he was released on parole after his mother's death. He continues to be out in the open.
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