The Supreme Court on Wednesday further extended Sahara chief Subrata Roy’s interim parole till November 28 and asked him to deposit Rs 200 crore to Securities and Exchange Board of India (SEBI) within that period.
Sahara deposited Rs 200 crore on Friday and will be depositing the remaining Rs 200 crore by November end.
Roy’s lawyer submitted a roadmap on how will they pay approx Rs 12,000 crore to SEBI. According to this, Sahara will be able to make full payment of the outstanding dues by December 2018 ie. 26 months.
The apex court said that it will consider about the practicality of the Sahara’s repayment schedule.
After spending over two years in jail, Subrata Roy has been out since May when his mother passed away. Later the court kept extending his parole on the condition of depositing Rs 500 crore with Sebi for refunding investors by August first week.