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SC directs Sahara chief to appear before it on Feb 28

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New Delhi, Jan 31

Supreme Court has directed Sahara group chief Subrata Roy to appear before it on 28th of next month for failing to deposit 25,700 crore rupees in SEBI-Sahara case for returning investors’ money.

The apex court said, six months were given to Sahara by its last order to arrange the amount but what has transpired during the period has not inspired the confidence of the court. A bench headed by Chief Justice Ranjan Gogoi, noted that the group has deposited only 15,000 crore rupees.

The apex court refused to give any further chance to Sahara group chief and other directors to comply with its previous orders. The court said, it has decided to proceed with the matter so that the law takes its own course and directed them to appear before it personally on next date of hearing.

Subrata Roy spent almost two years in jail and has been on parole since May 2017. The parole was granted the first time to enable him attend the funeral of his mother. It has been extended since then.

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