The Supreme Court on Wednesday extended parole of Sahara chief Subrata Roy till July 11 to deposit Rs 200 crore with SEBI.
The apex court asked Subrata Roy and Sahara Group director Ashok Roy Chaudhary to furnish individual undertaking that they are serious in the effort.
And if they fail to deposit Rs 200 crore to SEBI by July 11, they have to surrender and go back to Tihar jail, the court said on Wednesday.
Roy has been in Tihar jail since March 4, 2014 on the orders of the apex court in relation with a long running dispute with market regulator SEBI.
Earlier, a bench headed by Chief Justice T S Thakur said the matter would be taken up by the appropriate bench at 2 pm, after senior advocate Kapil Sibal sought parole for the beleaguered businessman.
Roy’s mother Chhabi Roy, 95, passed away in Lucknow today after a prolonged illness.