Subrata Roy has been in jail since March 4.
NEW DELHI: The Supreme Court on Tuesday ordered the chief of Sahara conglomerate to remain in jail over his company's failure to refund investors in an outlawed bonds scheme.
The court also rejected Sahara's latest proposal to pay, in installments, the 100 billion rupees ($1.7 billion) bail the court has asked for to secure chairman Subrata Roy's release. The court also asked Sahara to make a new proposal.
Roy has been in a Delhi jail since March 4 after failing to appear at a contempt hearing in a long-running legal battle between his group and the Indian capital markets regulator Sebi.
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Provident fund department had asked the group to furnish details of its employees. So in short now EPFO is accompanying SEBI to malign Sahara's good image which has already been tarnished.
ReplyDeleteHow a person will able to arrange 5000 cores sitting in the jail? It is a great injustice to a business man. He has never refused to return the investor deposit, money is always invested and his personal negotiations are required to sell off property.
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