Supreme Court asks Sahara chief to deposit Rs 300 crore

Supreme Court asks Sahara chief to deposit Rs 300 crore

New Delhi, Aug 3 (IANS) The Supreme Court on Wednesday asked Sahara chief Subrata Roy to deposit another Rs 300 crore to continue to stay on parole.

The court rejected Roy’s plea to be permitted to sell Sahara’s property to raise money to return investors’ deposits collected in 2008 and 2009 through OFCDs (Optionally Fully Convertible Debentures).

The bench, headed by Chief Justice T.S. Thakur, gave the Sahara chief time till September 15 to deposit the money, orally observing that failing this he will be back in Tihar Jail here.

The next date of hearing has been fixed for September 16.

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