Supreme Court extend Subrata Roy parole till July 11


New Delhi: The Supreme Court on Wednesday extended his parole till July 11 to enable him to deposit Rs 200 crore with market regulator Securities and Exchange Board of India (SEBI). Sahara India Chief Subrata Roy was released on parole for 4 weeks after his mother passed after prolonged illness.

The Supreme Court on Wednesday was hearing a plea to extend his parole to six months, during which, his lawyer Kapil Sibil assured the bench of judges that the full amount will be paid back by the businessman.

“We are inclined to give one chance to Subrata Roy and Ashok Roy Choudhary to prove their offer to deposit 200 crore by july 11.”

“We, accordingly, direct that the May 6 order would continue till July 11 subject to the individual undertaking being furnishing by them,” said the bench headed by Chief Justice T S Thakur also comprising Justice A R Dave and A K Sikri. The bench also observed that “with this fortune and wealth why he (Roy) should be hesitant in selling the properties.”

If they fail to deposit Rs 200 crore by July 11, they will have gone back to Tihar jail. This payment will be in addition to the sale of 60 properties that SEBI is trying to sell. Roy has been in Tihar jail since March 4, 2014 on the orders of the apex court in relation with a long running dispute with market regulator SEBI.