The chief of Sahara group, Subrata Roy who was sent to jail on May 4, 2014, for his failure to comply with a 2012 order in relation to return Rs. 17,600 crores with 15 percent interest which has been raised through optionally fully convertible debentures (OFCD) in 2007 and 2008 by Sahara India Real Estate Corp Ltd and Sahara Housing Finance Corp Ltd.
He has been on parole, yesterday the day of hearing of his case SC extended his parole by November 28 on the condition that he again has to deposit another Rs 200 crore with market regulator Securties Exchange Board of India (Sebi).
Sibal, counsel for Roy, told the court that by December 2018, Sahara will repay the entire amount to investors.
Now, the case will be heard on November 28
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