Supreme Court declines extension of parole to Subrata Roy, sends him back to jail
"You are going back to jail," the court said.
After he spent two years in jail, Roy was granted parole in May following his mother's death and since then it had been extended several times.
Though Roy's lawyer,Rajeev Dhavan, argued that Sahara couldn't sell its properties as they had been attached by market regulator Sebi, the judges stood firm in not granting extension of parole any more.
The apex court had earlier this month asked the Sahara Group to disclose the source of the Rs.25,000 crore it claimed to have raised to pay back its investors in cash, saying it was not credible that such a huge amount could be mopped up since it "can't fall from the heaven."
The Supreme Court had ordered Sahara in August 2012 to deposit with capital market Sebi over Rs. 24,000 crore collected from nearly three crore investors through issuance of certain bonds.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
