A plea filed by Sahara chief, Subrata Roy seeking more time to deposit the remaining Rs 966.80 crore out of the Rs 1,500 crore in the SEBI-Sahara account was rejected by the Supreme Court of India.
The court further directed that the official liquidator go ahead with the scheduled auction of Sahara's Aamby Valley property valued at Rs 37,392 crore.
Rejecting his plea to extend the time until November 11, the SC said Roy was trying to treat the court as "a laboratory" to play with the law. "We are constrained to state that respondent-contemnor in his own way has treated this Court as a laboratory and has made a maladroit effort to play, possibly thinking that he can survive on the ventilator as long as he can," said the bench headed by Chief Justice Dipak Misra.
"He would have been well advised that a person who goes on a ventilator may not survive for long and, in any case, a time would come when he has to be comatosed. Here comatose takes place as regards the ambitious effort made by the respondent-contemnor," the bench observed.
The court's directions came after Roy said he had deposited Rs 533.20 crore in the Sebi-Sahara account and wanted to pay the remaining Rs 966.80 crore via cheques dated November 11. The top court also observed that barring "hyperbolic arguments and rhetoric statements" by the Sahara chief, the amount in its entirety has not yet been paid.