Today, during Sahara Case hearing, court firstly asked senior advocate Kapil Sibal, representing Sahara chief Subrata Roy, to deposit Rs 1,000 crore with market regulator SEBI in two months or it will appoint a receiver, but later reduced the money to be deposited to Rs 600 crore till February 6, 2017.
Thereafter, Kapil Sibal said the group has already deposited the money in complying with an earlier direction and filed a fresh re-payment plan to the court. Court further said to Roy “If youare unable to sell properties, then the court would be comfortable to appoint a receiver”
Group admitted that it has assets to the tune of Rs 1.87 lakh crore. Now till February 6 next year he has to refund in SEBI account to remain out of jail and cautioned him that in case of failure, he would have to return to prison.
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