SC extends parole of Sahara Group's Subrata Roy to September 23

Zee Media Bureau

New Delhi: Supreme Court extended the parole of Sahara Group chief Subrata Roy on Friday to September 23.

Sahara India reportedly deposited Rs 352 crore with the Securities and Exchange Board of India (SEBI), as promised to the Supreme Court.

The amount had been promised earlier to continue the interim bail for Chairman Subrata Roy and two others.

The apex court on August 4 had extended Subrata Roy’s parole till 16 September on the condition that an additional Rs 300 crore be deposited with the court by September.

The Sahara chief was given judicial custody since 4 March 2014 along with two of his associates as two Sahara firms failed to deliver on promises made to return the money collected from depositors.

Roy was granted parole first in May. 

The apex court has set the bail amount of Rs 10,000 crore—half in cash and half as a bank guarantee.