Sahara on Thursday submitted a fresh proposal to the Supreme Court to secure the release of its chief Subrata Roy and two directors, from the Tihar jail. But the court declined to hear the matter as it was brought up late.

Even as a Bench of Justices K.S. Radhakrishnan and J.S. Khehar heard the petition questioning Mr. Roy’s detention, senior counsel Rajeev Dhavan submitted the proposal — approved by the Sahara brass in Tihar. .

The group is willing to pay Rs. 2,500 crore within three working days, another Rs. 2,500 crore in 60 days and the remaining Rs. 5,000 crore, in cash or bank guarantee, within 90 days thereafter. Mr. Dhavan urged the court to consider releasing Mr. Roy and two others on furlough for three days so that the Sahara chief could arrange for the money. But the judges, declining the request, said the proposal was presented when they were about to rise and they would take it up on Monday.