Angry Supreme Court cancels Sahara chief Subrata Roy's parole

Source : AGENCIES
Last Updated: Fri, Sep 23, 2016 12:14 hrs
Supreme court cancels Sahara chief Subrata Roy's parole

New Delhi: The Supreme Court on Friday cancelled the parole of Sahara chief Subrata Roy and two other directors and directed to take them into custody.

A bench headed by Chief Justice TS Thakur cancelled the "interim arrangements" of granting him parole after market regulator SEBI's counsel Pratap Venugopal told the bench that all the properties given by Sahara to the market regulator were already attached by Income Tax authorities.

Apparently annoyed over this, the Chief Justice immediately ordered the cancellation of parole and directed Roy and the two other directors to be taken into custody and they will remain so till October 3 when the matter will again be taken up for hearing.

The apex court had on September 16 extended Roy's parole till Friday.

Roy had 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.

In one of the last hearings, their bail was extended till September 16 on the condition that the Sahara Group deposit Rs. 300 crores with the apex court.

The apex court had asked Sahara India to reveal the source of the Rs. 18,000 crore it had claimed to have paid back to the investors.

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