New Delhi: The chances of Sahara Group chief Subrata Roy getting any reprieve were dashed and he will continue to be in Tihar jail for some more time as hearing of the contempt plea against him and three directors of his group companies has been adjourned.
As directed earlier, the matter was listed for hearing today but it was shown as deleted and adjourned in the supplementary list issued yesterday. The supplementary list read that the “Item No. 301 shown before this bench at 2pm in the daily list for 11.3.2014 issued on 08.03.2014 stands deleted as same is adjourned.”
Roy was sent to Tihar jail by the apex court on March 4 after he failed to make an acceptable offer to court for securing investors balance of Rs19,000 crore that its two companies — Sahara India Real Estate Corporation Limited and Sahara Housing Investment Corporation Limited — had collected from investors through Optionally Fully Convertible Debentures (OFCD) in 2008.
A bench of Justice K S Radhakrishnan and Justice J S Khehar had issued a non-bailable warrants against Roy and had directed police to produce him before it on March 4 after he failed to appear before it.
The apex court has on March 7 had junked a proposal by SIRECL and SHICL to pay the entire amount of Rs17,400 crores to SEBI in cash in six instalments at regular intervals of three months as a security for the redemption of OFCD’s saying it was not acceptable.
IANS
