SC extends interim parole of Subrata Roy till October 24

By: | Published: September 28, 2016 5:01 PM

The Supreme Court on Wednesday extended the interim parole of Sahara Group chief Subrata Roy till October 24th and asked him to deposit Rs.200 crore within that time.

Sebi- Subrata Roy Sahara GroupThe Supreme Court on Wednesday extended the interim parole of Sahara Group chief Subrata Roy till October 24th and asked him to deposit Rs.200 crore within that time. (Reuters)

The Supreme Court on Wednesday extended the interim parole of Sahara Group chief Subrata Roy till October 24th and asked him to deposit Rs.200 crore within that time. Roy’s lawyer has also been asked by the apex court to give a roadmap about how he will pay the approximate amount of Rs 12,000 crore to the SEBI. The apex court earlier on September 23 ordered that Roy should be taken into custody till October 3, but in a reprieve stayed his arrest till September 30.

A two-judge bench headed by Chief Justice Tirath Singh Thakur passed the order after hearing an application filed by Kapil Sibal, who was appearing for Roy. Sibal sought a reprieve for Roy on the ground that he would follow all rules and regulations.

Sibal had tendered an unconditional apology to the apex court and urged it to cancel its order on Roy’s parole delivered in the morning, following which the court agreed to hear the matter.

Roy had been out on parole since May after serving a two-year term in Delhi’s Tihar Jail to hold the last rites of his mother, who passed away after a prolonged illness.

In one of the last hearings, his bail was extended till September 16 on the condition that the Sahara Group deposit Rs 300 crores with the apex court.

The apex court had asked Sahara India to reveal the source of the Rs 18,000 crore it had claimed to have paid back to the investors.

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