The Supreme Court on Friday reserved for final order an application filed by Sahara group chief Subrata Roy to release him for 40 days to sell three luxury hotels abroad and raise money for his bail set at Rs.10,000 crore.
But the Income Tax department told the court that the Sahara chief has a tax liability of Rs. 10,015 crore. It said only 131 responded to a sample survey conducted to check the background of Sahara investors. “This raises the presumption that there may be no depositors… that the money may have come from some other source.”
