Law catches up, Subrata Roy in police custody till March 4

Mar 01 2014, 17:32 IST
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The law finally caught up with Sahara Group managing worker Subrata Roy on Friday with the 65-year-old businessman being sent to police custody till March 4. The law finally caught up with Sahara Group managing worker Subrata Roy on Friday with the 65-year-old businessman being sent to police custody till March 4.
SummarySahara chief Subrata Roy to be presented before Supreme Court on Tuesday.

of money they claimed to have repaid investors. It had also suggested Sebi take steps towards selling properties given as security to recover dues, irrespective of the value, and to initiate prosecution if the properties were not unencumbered.

The group has been under fire for claiming that it has refunded bulk of the amount to the investors and only around Rs 5,120 crore is left, for which it has furnished a bank draft to Sebi.

The bench had on August 31, 2012, directed the Sahara Group to refund Rs 24,000 crore by November end. The deadline was further extended and the companies on December 5, 2012, were directed to deposit Rs 5,120 crore immediately and Rs 10,000 crore in the first week of January 2013, and the remaining amount in the first week of February last year.

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