Apex court extends parole of Sahara chief

The Supreme Court on Monday extended Sahara chief Subrata Roy’s parole after he deposited Rs. 200 crore and gave him an ultimatum to pay up another Rs. 300 crore by August 3 as promised or go back to Tihar jail.

‘Long rope’

A Bench led by Chief Justice of India T.S. Thakur said the court had allowed Mr. Roy parole on humanitarian grounds and already given him “a long rope.” This was when his lawyer and senior advocate Kapil Sibal asked the Bench time till the year-end to deposit Rs. 300 crore.

It also drew his attention to the history of the case which led to the incarceration of Sahara chief from March 4, 2014 to May 6, 2016.

While Mr. Sibal was citing difficulties in selling and alienating the properties, the Bench said “why don’t we appoint a receiver and entrust him all properties.”

Besides extension of Mr. Roy’s parole, the Sahara group got much-needed relief with the apex court lifting its embargo permitting it to sell 19 properties, which include mortgaging the 600-acre Amby Valley in Mumbai, and three overseas hotels.