Supreme Court extends sahara boss Subrata Roy’s parole

In a relief to Sahara group chief Subrata Roy, the Supreme Court on Friday extended his parole till November 28 taking note of the deposit of Rs 200 crores made by him with Sebi as a condition precedent for his release.

A bench of Chief justice T.S. Thakur and Justices Anil R. Dave and A.K. Sikri passed this order after senior counsel Kapil Sibal, appearing for Mr Roy informed the court that as per the order passed on September 28, a total of Rs 215 cr had been deposited with the Sebi and that Rs 15 cr could be adjusted towards future installments.

The court had already warned Mr Roy that he will have to go to jail if there is default in payment schedule.

Kapil Sibal also informed the court that Sahara had come out with a road map and a scheme for full settlement of the dues spread over a period of 26 months from November this year and ending in December 2018. He said a copy of the road map had been given to the senior counsel Arvind P. Datar for the Sebi and senior counsel and amicus curiae Shekhar Naphade. He said certain dimensions of the road map and payment schedule will be discussed with them and presented in the court on November 28.