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Deposit Rs 1,500 crore by September 7: Supreme Court to Subrata Roy

Subrata Roy's advocate Kapil Sibal informed the court that the Sahara chief has deposited Rs 247 crore. Photograph: (DNA)

New Delhi, Delhi, India Jul 25, 2017, 01.38 PM (IST)

The Supreme Court has ordered Sahara group chief Subrata Roy to deposit Rs 1,500 crore in the SEBI-Sahara refund account by September 7 while extending the parole of the Sahara chief till October 10.

India's top court said Rs 1,500 crore which the Sahara chief is supposed to deposit would also include the balance amount of Rs 305.21 crore.

A three-judge bench headed by Justice Dipak Misra was informed by Subrata Roy's advocate Kapil Sibal that the Sahara chief has deposited Rs 247 crore as against the promised amount of Rs 552.21 crore which was to be deposited in the refund account by July 15.

Sibal told the court that the balance amount of Rs 305.21 crore out of the Rs 552.21 crore would be deposited by August 12.

In April, the Supreme Court had asked the Bombay High Court to sell the properties of the Sahara Group-owned Aamby Valley worth Rs 34,000 crore. 

"Enough is enough. You cannot say something today and resile tomorrow," a bench, comprising Justices Dipak Misra, Ranjan Gogoi and AK Sikri, had said.

The Sahara chief has spent almost two years in jail and been on parole since May 6, 2016.

Subrata Roy was first arrested in May 2014 after the Sahara group failed to comply with a court order to refund investor’s amount of Rs. 17,600 crores with 15 per cent interest.

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