Zee Media Bureau
New Delhi: The Supreme Court on Tuesday refused to release Sahara Chief Subrata Roy on parole.
The Apex Court has however said that it can allow Roy to leave jail for 6 hours everyday for sale of assets.
The court has allowed Roy to sell three hotels abroad and said that he can negotiate on assets sale from the police custody.
Roy, who has been in jail for the last four months, had on July 03 pleaded before the Supreme Court to allow him parole for at least 40 days to sell his properties to raise Rs. 10,000 crore to get bail and expressed his willingness to dispose of luxury hotels in New York and London.
A bench headed by Justice T S Thakur, had, raised apprehension on Sahara selling international properties and asked the company to first dispose of its assets which are in the country.
65-year-old Roy, who was sent to jail on March 4 this year for non-refund of over Rs. 20,000 crore to depositors, was asked by the court to pay Rs. 10,000 crore to get bail, out of which Rs. 5,000 crore in cash and rest of the amount in bank guarantee.
The Sahara group, however, had been claiming that it has already repaid money to 93 per cent investors.
With PTI Inputs
