SC cancels Sahara chief Subrata Roy's parole, sends him back to Tihar jail

Zee Media Bureau

New Delhi: The Supreme Court on Friday cancelled the interim arrangement and sent Sahara chief Subrata Roy and two others back to Tihar jail.

The apex court had earlier on September 16 extended the parole of Subrata Roy till today, granted to him in May on humanitarian grounds after his mother passed away.

The parole continued later to enable him arrange money to refund his investors.

The apex court on September 2 had asked the Sahara Group to come clean by disclosing its sources from where it had raised Rs 25,000 crore and paid its investors in cash, observing that it is "difficult to digest" as such a huge amount "cannot fall from the heavens."

 

It had earlier extended Roy's parole on August 3 till Sept 16 with a condition that he has to deposit to Rs 300 crore with SEBI.

The apex court had granted parole to Roy on May 6 for four weeks on humanitarian ground following the death of his mother Chhabi Roy in Lucknow after prolonged illness.

Besides Roy, the court had also granted parole to a jailed Sahara director, Ashok Roy Choudhary.

 

It had said they were free to meet prospective buyers of properties and move within the country under police escort.

Roy has been lodged in Tihar jail since March 4, 2014 on the orders of the apex court in relation with a long running dispute with market regulator SEBI.

With Agency Inputs