Apex court has put the onus of his freedom on Subrata Roy himself.
"We will consider your plea for bail only if you come up with some proposal on payment of money," the Supreme Court said, adding, "Key is in your hand."
Sahara Group's plea against detention order to be heard on March 25.
Beleaguered Subrata Roy on Wednesday had challenged before the Supreme Court his detention order passed by a two-member bench calling it "illegal and unconstitutional" and demanded his release.
"Declare the order dated 04.03.2014 as void, nullity and non-est in the eyes of law," said the petition on behalf of Subrata Roy.
The Sahara Group's lawyers failed to get any immediate relief with a bench headed by Chief Justice P Sathasivam referring the matter through a habeas corpus petition to a two-member bench of Justices K S Radhakrishnan and J S Khehar, to be heard on Thursday.
On March 4, the two-judge bench had sent Subrata Roy and two of company's directors to Tihar jail in connection with the case relating to non-refund of Rs 20,000 crore to its investors.