Sahara Chief Subrata Roy was today asked by the Supreme Court to pay Rs. 600 crore by February if he wants to remain out of prison.
Mr Roy, who is out on parole since his mom’s passing in May this year, has been asked to surrender if he can’t pay this money by February 6. His parole was also extended.
The Sahara bunch has been occupied with a long fight in court with capital market controller Sebi over the refund of Rs. 24,000 crore to investors. Sahara has paid around Rs. 11,000 crore and presented an plan saying it will pay the rest of the money in two and a half years.
“You had said earlier you have properties worth Rs. 1,87,000 properties. But those don’t come to your help for repaying Rs. 20,000 crores,” the court said to Sahara.
Senior legal counselor Kapil Sibal, speaking to Sahara, said the condition of the market is awful. The Supreme Court, in any case, shot back, “Market business involves observation. For some it is great, for some it is awful.”
Mr Roy, 68, was captured in March 2014 after Sahara neglected to agree to a court request to discount the cash raised from a great many little financial specialists who were sold bonds later administered to be unlawful.