1. Sahara Chief Subrata Roy’s parole extended till November 28

Sahara Chief Subrata Roy’s parole extended till November 28

The Supreme Court on Friday further extended Sahara chief Subrata Roy's interim parole till November 28.

By: | Updated: October 21, 2016 4:27 PM
Subrata Roy, Subrata Roy sahara, Sahara SC, subrata roy parole, subrata roy jail, Sahara Subrata roy, Subarata Roy news, Subrata Roy Tihar jail, sahara The apex court has asked Sahara Chief Subrata Roy to deposit Rs 200 crore to market regulator Securities and Exchange Board of India (SEBI) by the end of November. (PTI)

The Supreme Court on Friday further extended Sahara chief Subrata Roy’s interim parole till November 28. The apex court has asked Sahara to deposit Rs 200 crore to market regulator Securities and Exchange Board of India (SEBI) by the end of November. Earlier in September Subrata Roy’s interim parole was extended by SC till October 24. He was asked to pay Rs 200 crore to SEBI within that period which Sahara deposited today. During the September verdict, SC had asked Roy’s lawyer to provide a roadmap on how the company will pay approximately Rs 12,000 crore to SEBI. Sahara reportedly has paid Rs 10,918 crore out of Rs 24,029 crore raised from investors, according to the lawyer appearing for SEBI.

Subrata Roy has been out of jail since May when his mother died. He had spent more than two years in jail. Since then the Supreme Court kept extending Roy’s parole with the condition that Sahara has to deposit Rs 500 crore with Sebi in order to refund its investors by the first week of August. On October 3, the court had agreed to hear a fresh plea and others related to the granting of bail. The apex court had also said that it had been ‘taken for a ride’ by the company. On Friday, Roy’s lawyer submitted the roadmap to pay Rs 12, 000 crores, and according to it, the company will be able to pay off the debts in the next 26 months, by December 2018. SC said that it will look into the practicality of the date and schedule.

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