Supreme Court asks Sahara chief to deposit Rs 300 crore, extends parole till September 16


Mumbai: The Supreme Court on Wednesday extended the parole of Sahara chief Subrata Roy till September 16 and directed him to deposit another Rs 300 crore to continue to stay out of jail. The direction for depositing the amount came after Roy complied with the order of July 11 by which he was asked to deposit the balance of Rs 300 crore, out of the Rs 500 crore promised by him when he was granted parole on humanitarian grounds following the death of his mother.

The court rejected Roy's plea to be permitted to sell Sahara's property to raise money to return investors' deposits collected in 2008 and 2009 through OFCDs (Optionally Fully Convertible Debentures). 

The bench, headed by Chief Justice T.S. Thakur, gave the Sahara chief time till September 15 to deposit the money, orally observing that failing this he will be back in Tihar Jail here. The next date of hearing has been fixed for September 16.