Pay Rs 1,500 Crore To Establish Your Bonafide : SC To Roy

In a relief to Sahara group chief Subrata Roy, the Supreme Court extended his parole till October 10 after he deposited Rs 247 crore against the promised Rs 552.21 crore which was to be deposited by July 15.

A three-judge bench of justices Dipak Misra, Ranjan Gogoi and A K Sikri directed Roy to deposit Rs 1,500 crore in the SEBI-Sahara refund account by 7 September.

The bench also said that Rs 1,500 crore which Roy would deposit by September seven would also include the balance amount of Rs 305.21 crore. “Make this payment to establish your  bonafide”, SC said  extending his parole till 10 October.

AAMBY VALLEY SALE

The bench asked the official liquidator of the Bombay High Court to proceed with the publication of sale notice with regard to auctioning of Sahara's prime property at Aamby Valley.

The bench fixed the matter for further hearing on 11 September.

On July 5 Roy deposited Rs 710.22 crore more to the SEBI-Sahara account and the Supreme Court took note of it

The bench had however then warned that its cheque of Rs 552.21 crore must be realised within the July 15 deadline.

The apex court had rejected the plea made by Senior advocates Kapil Sibal and Mukul Rohatgi for extension of time beyond July 15 for realisation of this cheque.

Roy had earlier told the court that he will pay Rs 1,500 crore on or before June 15 and Rs 552.22 crore exactly a month thereafter. However, he had paid Rs 790.18 by June 15 and was granted 10 more days till July 4 for payment of Rs 709.82 crore