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Updated: March 13, 2014 17:07 IST

Supreme Court declines Sahara chief’s plea for release

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Chairman of Sahara India Group Subrata Roy. Photo: Shiv Kumar Pushpakar
The Hindu
Chairman of Sahara India Group Subrata Roy. Photo: Shiv Kumar Pushpakar

Court refuses to accept Sahara offer to pay Rs. 2,500 crore as part payment of outstanding amount

Sahara group chief Subrata Roy will stay in Tihar jail for some more time as the Supreme Court on Thursday declined his plea for release on a personal bond with an assurance that he will not leave the country.

The apex court bench of Justice K.S. Radhakrishnan and Justice J.S. Khehar reiterated their earlier order as they asked senior counsel Ram Jethmalani if there was any proposal by the Sahara chief to deposit the balance of Rs. 19,000 crore to SEBI for resumption of investors money.

When Mr. Jethmalani told the court that Mr. Roy was prepared to pay an amount of Rs. 2,500 crore as part payment of the outstanding amount, the court refused to accept the offer.

A similar offer made earlier by Sahara was rejected as unacceptable by the court.

If the sahara is wrong then why its offices are opened till today. Why investors are
silent ???

from:  mukesh sharma
Posted on: Mar 14, 2014 at 19:04 IST

People like Roy think that Rules and laws are not for mighty and
powerful like him. He is so arrogant , he comes out with full page
advertisements even indirectly questioning the wisdom of the Supreme
Court. He is the biggest money launderer and I strongly feel that he
is safe keeping the black money of politicians and actors in the names
of millions of customers who are non existent. If such few millions
had so much money to deposit in Sahara how come U.P is in such bad
shape and economically backward.No wonder they all attend his parties
and are keeping mum about the whole episode. It is inconceivable to
note that millions without proper addresses have kept billions as
deposits. I think ED and I.T departments should investigate each and
every deposit and come out with the facts. Hats off to Supreme Court.
Now Jethmalani will file a review petition or file a petition that
Roy's mother is very sick. When one is 92, it is natural.

Posted on: Mar 13, 2014 at 18:26 IST

Saharashri's defense team in Apex court include two very senior lawyers of a leading political party too.This makes one wonder as to whether this e particular party too,like others have parked their funds with this not so ethical non banking firm.

from:  Arun Mehta
Posted on: Mar 13, 2014 at 18:25 IST

Is it not possible for the hon.court to pass an order for attachment of his assets?

from:  Naidu Kare
Posted on: Mar 13, 2014 at 18:15 IST

Bravo SCI. Judges must be saluted. Sahara is a junk yard company who collected money from poor investors. Look what is going to happen next.

from:  Aftab Khan
Posted on: Mar 13, 2014 at 18:04 IST

It is big pity that Ram Jethmalani, the BJP leader, is defending this
big thief of century Subrata Roy

from:  K.J.Haroon Basha
Posted on: Mar 13, 2014 at 17:43 IST

Why is our cricket team still wearing Sahara Jersey.
Remember the one week marriage celebration of Sahara son when the entire
Bollywood was there to dance and dine.Money of millions of landless
laborers and tribals.This happens only in INDIA.Hope other tycoons are

from:  Thomas
Posted on: Mar 13, 2014 at 17:31 IST

Kudos !!! the judges and SCI

from:  Rahul
Posted on: Mar 13, 2014 at 17:29 IST

The case has been in headlines for the last one year. Each time the court ordered for some action Sahara tend to answer with a full page paper advertisement rising emotive issues. Mr.Roy should be in jail at least for number of days that matches his advertisements for now.
He is thorough arrogant and wears a mask of humble child of Mother India. In this case, the Court and other agencies are now grappling with a set of wealthy and arrogant defendants who are leaving no stone unturned in their efforts to sway public opinion against efforts to hold them accountable.

from:  D Chavali
Posted on: Mar 13, 2014 at 17:10 IST

Thanks to the SCI and the Judges!...Some sense still left in the system because of them!

from:  san
Posted on: Mar 13, 2014 at 17:06 IST

Good offer by Supereme court, Mr Roy should be released only after
payment of the whole money and submission of the list of investers.

from:  satish
Posted on: Mar 13, 2014 at 17:05 IST
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