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12/07/2016

NEW DELHI: The Supreme Court on Monday asked the Sahara group to pay another Rs 300 cr by August 3 to further extend the interim bail granted to group chairman Subrata Roy till that time, and warned that the court would send Roy back to jail along with the two other directors should the company fail to pay up the amount.

The top court had freed Roy on parole on May 6, 2016 on humanitarian grounds after his mother passed away. Roy and another director have been out on bail from that day.

On Monday, the top court also released on bail a third director who was still in jail. It permitted Sahara to try and dispose of its properties, apart from the already permitted 19 properties, at not less than 90 per cent of the circle rates or official rates.

While allowing him to go out on parole, the top court had asked Sahara and Roy to make up a shortfall of about Rs 500 cr for his bail. He was to pay Rs 10,000 cr as ball bondo put of which he had to pay Rs 5000 cr in cash and another Rs 5000 cr by way of a bank guarantee.