Sahara boss offers in SC to pay Rs 300 crore as bank gurantee


NEW DELHI : Sahara boss Subrata Roy on Friday offered in Supreme Court to pay an extra Rs 300 crore to Security and Exchange Board of India (SEBI) yet said the sum ought to be balanced as bank certification. 

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A seat headed by Chief Justice T S Thakur coordinated that the matter be recorded one week from now after senior promoter Kapil Sibal, showing up for Roy, specified the matter before it. 

"I am prepared to pay extra Rs 300 crore however this sum ought to be balanced as a bank ensure," Sibal told the seat that likewise contained Justices A M Khanwilkar and D Y Chandrachud. 

On August 3, the Supreme Court had amplified the parole of Roy till September 16 with a condition that he needs to store Rs 300 crore with SEBI. 

Roy's parole, allowed on philanthropic grounds taking after the passing of his mom, was stretched out after he had saved Rs 300.68 crores, giving him the chance to raise the rest of the sum to secure safeguard for the situation. 

The zenith court had permitted the Sahara gathering to proceed with deal and estrangement of their properties to raise a measure of Rs 5,000 crore as a bank insurance which they need to store notwithstanding Rs 5,000 crore to get safeguard for Roy. 

For Roy's interval safeguard, the court had put conditions like saving Rs 5,000 crore in real money and a bank certification of equivalent sum and intense terms, including installment of the whole Rs 36,000 crore, which incorporates enthusiasm, to be paid back to the speculators. 

The Sahara boss had before told the court that by December, the gathering would be in a position to satisfy every one of the conditions and talks were going ahead with Canara Bank for Rs 1,500 crore bank gaurantee. 

The summit court had passed a request on March 29 expressing that SEBI would likewise not offer any property possessed by the ambushed bunch at a cost under 90 for each penny of the circle rates for the range being referred to without the consent of the court.

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