Zee Media Bureau
New Delhi: The Supreme Court on Wednesday refused bail plea of Sahara Group chief Subrata Roy. The court has dismissed Sahara's petition seeking to shift Roy to guest house.
A bench of justices T S Thakur and A K Sikri, who had on May 29, reserved its order after hearing arguments from the counsel of Sahara Group and the SEBI on the fresh plea of Roy, has now referred the sahara case to a 3-judge bench to be constituted by the Chief Justice.
The apex court has allowed Sahara to sell its Amby valley property and nine other properties for raising bail money. SC has also let Sahara encash securities fixed deposit for raising bail money. The court has however said that the company cannot sell properties related to parties.
SC has asked SEBI to release title deeds of the properties to be sold by Sahara in favour of purchasers for arranging the money.
The Court has appointed senior advocate F S Nariman as an amicus curiae in the case.
65-year-old Roy, has been in jail since March 4 for non-refund of over Rs 20,000 crore to depositors.
