SC orders Subrata Roy to pay Rs 10,000 core to get interim bail

New Delhi: The Supreme Court has ordered Sahara chief Subarata Roy to pay Rs. 10,000 crore to get interim bail.The apex court has agreed to grant bail to Roy and two directors of the company
sc orders subrata roy to pay rs 10 000 core to...
India TV News Desk March 26, 2014 18:03 IST
New Delhi: The Supreme Court has ordered Sahara chief Subarata Roy to pay Rs. 10,000 crore to get interim bail.

The apex court has agreed to grant bail to Roy and two directors of the company on the condition that they would pay Rs. 10,000 crore before the court.

Roy and two directors of the company, Ravi Shankar Dubey and Ashok Roy Choudhary have been in Delhi's Tihar jail since March 4.

Mr Roy, 65, was arrested on February 28 after failing to appear at a contempt hearing in a long-running legal battle between the group and Sebi over refund of crores of rupees to investors.

A bench of justices K S Radhakrishnan and J S Khehar said that interim bail will be granted only after the company fulfils the condition while the court agreed to defreeze the firms' bank accounts to raise the money. 

“We are inclined to grant interim bail to the contemnors (Roy and two Directors) who are detained by virtue of our order dated March 4 on the condition that they would pay the amount of Rs.10, 000 crores—out of which Rs.5, 000 crores to be deposited before this court and for the balance a guarantee of a nationalized bank be furnished in favour of SEBI to be deposited before this Court.

 
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