SC asks Sahara chief to deposit Rs 1,500 crore by September 7

25 July, New Delhi

The Supreme Court Tuesday directed Sahara group chief, Subrata Roy, to deposit 1,500 crore rupees in the SEBI-Sahara refund account by 7th of September.

The court was informed by Roy’s advocate, Kapil Sibal that his client has deposited 247 crore as against the promised amount of 552.21 crore which was to be deposited in the refund account by 15th of this month. He said the balance amount of 305.21 crore would be deposited by 12th of August.

The court, however, said that 1,500 crore, which Roy would deposit by 7th of September would also include the
balance amount of 305.21 crore. Roy had earlier told the court that he will pay 1,500 crore on or before 15th of June.

The apex court extended the parole granted to Subrata Roy earlier till 10th of October. It fixed the matter for further hearing on 11th of September.

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