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Supreme Court extends Sahara chief Subrata Roy’s parole till September 23

The Supreme Court on Friday extended parole of Sahara chief Subrata Roy till September 23, after his lawyer said that a draft of R353 crore has been deposited in the Sebi-Sahara account.

By: | Updated: September 17, 2016 6:41 AM
Subrata Roy Sahara Group

Subrata Roy and the two directors are in judicial custody since March 4, 2014 for not complying with the apex court’s August 31, 2012 and December 5, 2012, orders relating to refund of over Rs 24,029 crore raised from three crore bond investors. (PTI)

The Supreme Court on Friday extended parole of Sahara chief Subrata Roy till September 23, after his lawyer said that a draft of R353 crore has been deposited in the Sebi-Sahara account.

The decision to extend the parole was taken by a bench headed by Chief Justice TS Thakur in-chamber as his parole was to end on Friday. The matter was heard in the chamber as the regular three-judge special bench of the CJI and justices AR Dave and AK Sikri could not sit.

Earlier on August 3, the apex court had extended his parole till September 16 on a condition that he will deposit Rs 300 crore with Sebi. The apex court had ordered the release of Roy on parole for the first time on May 6 for performing the last rites of his mother and since then he has been getting extension by promising to return specified amounts.

Subrata Roy and the two directors are in judicial custody since March 4, 2014 for not complying with the apex court’s August 31, 2012 and December 5, 2012, orders relating to refund of over Rs 24,029 crore raised from three crore bond investors.

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