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Subrato Roy's parole extended till July 11 by Supreme Court

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Published on 11 May 2016 12:23 PM GMT

Subrato Roys parole extended till July 11 by Supreme Court
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New Delhi: The Suprme Court on Wednesday extended the parole of Sahara group chairman Subrato Roy till July 11 on his assurance that he will deposit Rs 200 crore with market regulator SEBI or he will be back to Tihar jail.

Earlier on May 6 last, he was granted parole of four weeks by a bench comprising Chief Justice T S Thakur, Justices A R Dave and A K Sikri to attend funeral of his mother Chabi Roy who died in Lucknow after a prolonged illness.

Subrato Roy has been in Tihar jail since March 4, 2014 in the long running case with the SEBI over payment to his investors. the Apex Court had ordered sale of his properties.

He will have to remain under security cover during his parole period and will be allowed to move within the country to meet prospective buyers of his properties in order to pay for his release.

Ashok Roy Chaudhary, the Shahara director who was jailed with him, has also been granted parole.

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