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Supreme Court extended Sahara chief Subrata Roy's parole till September 23

17 Sep 2016

subrata-roy1New Delhi : On Friday the Supreme Court extended Sahara chief Subrata Roy's parole on humanitarian grounds till September 23.

Mr. Roy is out on parole after spending about two years in Tihar Jail, unable to garner bail for allegedly duping his investors.

Chief Justice of India T.S. Thakur, due to the non-availability of Justices Anil R. Dave and A.K. Sikri, heard the matter in his chambers.

The court has since been extending the parole. Roy was arrested as the group didn't meet the Supreme Court's 2012 order to pay more than Rs 20,000 crore to the market regulator to be returned to investors in two investment schemes the group operated. The arrears have since swelled further, while Sahara has so far paid only a fraction, insisting that it had repaid much of it by way of cash to investors. He was then asked to deposit Rs 10,000 crore — with the court to get bail. The last part of the cash payment, amounting to Rs 300 crore, was deposited in court on Friday. The only hitch to extending his parole was the absence of Justice Anil R Dave, who is away in Gujarat. However, Chief Justice TS Thakur and Justice AM Khanwilkar passed an order extending his parole. This was done at the request of senior advocate Kapil Sibal.

By Sanjay Bansal | Founder & CEO | Affordable Homes India

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