Friday, September 23rd, 2016

SC cancels Subrata Roy’s parole, asked to surrender within a week

Narada Desk | September 23, 2016 11:33 am Print
The Supreme Court after cancelling the parole of Sahara chairman Subrata Roy has given him one week to surrender. Roy's plea for parole extension will be heard on September 28
subrata Roy, Sahara India Group

Refusing to extend parole any further, the Supreme Court ordered Sahara chief Subrata Roy to be sent back to Tihar Jail. The top court, according to reports, was annoyed over wrong statements on property status given by the group. SEBI informed the apex court that most of the properties of Roy in the list meant for auction has already been attached with the Income tax department.  The properties attached to Income tax department cannot be sold, the top court was informed.

Meanwhile ,  In the wake of SC cancelling his parole ,  Sahara chief Roy tendered unconditional apology for his counsel’s ( Rajeev Dhavan) remarks.  Appearing for Roy, senior counsel Kapil Sibal told the bench headed by Chief Justice of India TS Thakur: “I apologise, offer unconditional apology, it will never happen again, I assure you….”

As Sibal offered the apology, CJI Thakur said: “We don’t enjoy such things but there has to be a limit.” Justice Thakur said he will consult Justice Anil R Dave and Justice AK Sikri and take a call on Roy’s application on September 28 . The court has  now ordered Roy to surrender within a week and file fresh bail plea.

On September 16, the top court extended Roy’s parole till September 23 . The Sahara chief has been out on parole since May after serving a two-year term in Delhi’s Tihar Jail, to hold his mother’s last rites who passed away after a prolonged illness.

The apex court also send two other directors to jail along with the Sahara chief.

The top court had earlier this month asked the Sahara Group to disclose how it had raised Rs 25,000 crore to pay back its investors in cash, observing that it was “difficult to digest” as such a huge amount “cannot fall from the heavens.

In separate notices recently , the Securities and Exchange Board of India (Sebi) said HDFC Realty will auction seven properties on October 27 at a reserve price of more than Rs 710 crore, while SBI Caps will auction six properties on October 25 at a reserve price of over Rs 672 crore.