April 27, 2024 08:58 (IST)
Follow us:
Sahara has no cash for Roy's bail
New Delhi, Apr 3 (IBNS) The Sahara Group on Thursday told the Supreme Court that they cannot deposit Rs 10,000 crore immediately for its chief Subrata Roy release from Tihar Jail.
The company said it could raise only Rs 2,500 crore for Roy's bail as of now.
The Sahara Group's lawyer said the company will pay the rest of the money within three weeks after Roy release.
However, the apex court rejected the proposal.
Even after the Supreme Court granted him conditional bail, Roy will continue to remain behind bars till Rs 10,000 crore is deposited.
The Supreme Court on Mar 26 granted conditional bail to Roy and ordered him to deposit Rs 10,000 crore with market regulator Securities and Exchange Board of India (SEBI) for his interim release.
The apex court said Roy has to deposit Rs 5,000 crore in cash, and another Rs 5,000 crore through a bank guarantee.
The apex court said Roy has to deposit Rs 5,000 crore in cash, and another Rs 5,000 crore through a bank guarantee.
Image: Wikimedia Commons
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
After PM Modi's high-octane rally in Bengal, Trinamool Congress 'fact-checks' his charges Sat, Apr 27 2024
Arjuna awardee CRPF officer found guilty of sexual harassment charges, faces dismissal Sat, Apr 27 2024
Election 2024: Congress likely to decide on Amethi and Raebareli candidates on Saturday Sat, Apr 27 2024
Supreme Court rejects plea seeking 100 pct votes verification on EVMs, rules out returning to ballot papers Fri, Apr 26 2024
Lok Sabha Elections 2024: 2nd phase of voting concludes in 88 constituencies with 61% turnout by 5 pm Fri, Apr 26 2024
Rahul Gandhi targets Narendra Modi, says he is 'nervous' Fri, Apr 26 2024