SC permits Sahara chief to remain on bail till Oct 24

New Delhi, Sept 28: The Supreme Court today permitted Sahara chief, Subrata Roy to remain on interim bail till October 24. The court however directed Sahara to submit a road map to pay the balance of Rs 12,000 crore which is due from the company.

While allowing the Sahara Chief and two of its directors to remain on interim bail, the court also directed them to pay Rs 200 crore.

While seeking a road map, the court observed that it had lost faith in Sahara due to its past conduct. It said that the scheme to pay Rs 12,000 crore must be accompanied by an affidavit.

On the last date of hearing SEBI informed the court that most of the properties mentioned in the list for auction had already been attached by the Income Tax Department. SEBI said that since these properties were attached it could not sell them.

While cancelling the interim arrangement, the SC observed that it was better he went back to jail. The court had said, " you provide a list of properties which are already attached by the IT department.

You do not cooperate and hence it is better you are back in jail, the court had also said while cancelling the interim arrangement of parole.

OneIndia News