The order to arrest Subrata Roy was issued yesterday for his failure to appear before the apex court in a contempt case arising out of non refund of Rs 20,000 crore to investors by two of his companies.
The Sahara Group chief has offered unconditional apology to the apex court for his non-appearance.
Subrata Roy also sought recall of the apex court's yesterday order in which non bailable warrant was issued against him and police was ordered to arrest and produce him before it on March 4.
A bench of justices K S Radhakrishnan and J S Khehar had rejected Subrata Roy's plea to exempt him from personal appearance on the ground of ill-health of his 92-year-old mother.
Senior advocate Ram Jethmalani, who had appeared for Subrata Roy, had produced a medical certificate from Sahara Hospital, Lucknow, on the condition of Roy's mother and recommended that he be allowed on "humane as well as medical grounds" to be with his mother at this stage.
The bench had said since it had on February 25 declined to grant exemption, it did not find reason to accede to the renewal of the request made yesterday.
The three directors of Sahara Group, who were also summoned along with Subrata Roy, had appeared in the court yesterday.
The court had on February 20 come down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order and summoned Roy, Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) to be personally present before it yesterday.