Subrata Roy to stay in jail as Supreme Court reserves judgement

Sahara chief Subrata Roy will continue to stay in jail as the Supreme Court on Monday reserved its judgement on the group’s proposal for his release.
During a hearing for Roy’s bail plea in the apex court Monday, the company proposed to pay Rs 3,000 within 3 working days of his release and another Rs 2,000 crore by May30.
Sahara also said the bank guarantee of the balance of Rs 5,000 crore will be submitted by June 30.
However, the apex court reserved its judgement on the proposal stating that the company pay Rs 10,000 crore for Roy’s release.
Earlier, in one its hearings, the Supreme Court had ordered the company to pay Rs 10,000 crore for Roy’s bail, Rs 5,000 crore in bank guarantee and rest Rs 5,000 crore in cash.
The apex court had also said it was “willing” to defreeze the bank accounts of Sahara and allow the group to sell properties to raise Rs 10,000 for Roy’s bail. It also sought details in this regard.
The Sahara chief was arrested on February 28 and has been held in Tihar Jail since March 4 after he failed to appear at a contempt hearing following the legal battle with SEBI over refund of about Rs 20,000 crore to investors