Fresh proposal offered for Subrata Roy's release
Sahara submitted to the court that they would make an upfront payment of Rs. 2500 crore within 4 working days and further payment of Rs. 2,500 crore within 60 days of the release of its group Chairman and other detenues.
"At the flag end of the hearing, Mr. Ram Jethmalani and Dr. Rajiv Dhavan, Sr. Advocates appearing on behalf of Sahara made another proposal to the court for the payment of Rs. 10,000 crore to comply with the order passed by the Hon’ble Court vide its order dated 26.03.2014," said Keshav Mohan, Counsel for Sahara in a statement on Thursday.
"Sahara sought a further time of 90 days to furnish the bank guarantee or to make the cash payment in lieu thereof," he said.
The court asked Sahara to give an advance copy of the proposal to SEBI as well as to the court and further suggesting Sahara to improve upon its proposal stated that the same shall be considered by the court on the next date of hearing which has been fixed on Apr 21.
Image: Wikimedia Commons
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