Friday, 23 June 2017

Subrata Roy Sahara Gets 10 Days to Deposit 710 Crore

New Delhi: The Supreme Court has extended the interim bail of Subrata Roy Sahara till July 5. He has been given ten working days so that he can deposit 709.82 crores in the SEBI-Sahara account. Senior advocate Kapil Sibal, appearing for Subrata Roy, argued that 790.18 crore rupees have already been deposited. They demanded ten business days to deposit the remaining amount.

The Bench of Justices Ranjan Gogoi and Deepak Mishra decided to extend the interim bail period. The Supreme Court had ordered Subrata Roy to deposit 15 billion rupees in the SEBI-Sahara account.

Prior to this, Rai had deposited two checks of 15 hundred crore and 552.22 crore. These were submitted on June 15 and July 15. On April 17, the Supreme Court had rebutted Subrata Rai and had ordered that Sahara Group's assets in Maharashtra be sold to Ambli Valley of Rs 34 thousand crore.

The court also ordered Rai to appear in person. Subrata Rai was sent to Tihar Jail on March 4, 2014. On May 6, 2016, he was given four weeks' payroll, so that he could attend his mother's funeral.

Since then, period of payroll has been increasing continuously. Apart from Rai, two other directors of Sahara Group have also been arrested. Ravi Shankar Dubey and Ashok Roy Choudhury are the directors of Sahara Group companies. He was asked to return Rs 24 thousand crore of investors, but he failed to raise the money.
                                                                         ---Ashish Jha

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