Parole ends, SC sends Subrata Roy back to jail
Roy's parole was extended by the court till September 23 after the company deposited Rs 306 crore
The Supreme Court on Friday refused to extend parole of two directors and Sahara chief Subrata Roy.
Market regulator Sebi told the apex court that out of 58 properties that were meant for auction, 47 were already attached by the Income Tax Department and hence cannot be sold.
Calling scrapping of parole "unfair", Roy's counsel Rajiv Dhavan demanded for its extension.
A bench led by Chief Justice TS Thakur told Dhavan, "Don’t tell us what to do…we know what we need to do. You go back to jail. The previous order stands terminated,"Indian Express reported.
Roy's parole was extended by the court till September 23 after the company deposited Rs 306 crore.
Sahara will have to deposit another Rs 300 crore by September 30.
Besides directing for the deposit of Rs 300 crore, the bench had said that Sahara will have to give a list of its immovable properties to Sebi that it wants to sell.
Roy was granted parole on May 6 after his mother passed away on May 5. His son-in-law Ashok Roy Choudhary too was granted parole. The parole was extended for two months on May 11. Thereafter, it was extended till August 3 and then till September 16 and later till September 23.