Zee Media Bureau
Mumbai: Beleagured Sahara chief Subrata Roy will have to spend the new year in Jail as the Supreme court on Wednesday fixed January 09 for the next hearing.
Sahara group made claims in the court to have secured a junior loan of $650 m however the apex court has said that it can approve loan only after the company satisfies SEBI's concerns.
Meanwhile, the company today pleaded before the court to release Subrata Roy for two months to be able to sell property. However, The court has asked Sahara to deposit Rs 10,000 crore as has been fixed for securing Roy's bail.
Sahara Chairman Subrata Roy has been held in a New Delhi jail for more than nine months now in Sahara`s long-running dispute with the country`s capital markets regulator. The feud is over the company`s alleged failure to repay, with interest, billions of dollars it had raised in bonds that were later ruled to be illegal.
