New Delhi, April 27 (IANS) The Supreme Court on Thursday asked Sahara chief Subrata Roy to deposit Rs15 billion (Dh860 million), as offered by him, by June 15, failing which he will have to go back to jail even as it sent a proposed buyer of Sahara’s assets to jail for contempt.
Asking Roy, who was present in the court, to pay the money, the bench of Justice Dipak Misra, Justice Ranjan Gogoi and Justice A.K. Sikri recorded his assurance that cheque of Rs15 billion would be honoured on being presented on the due date.
“We are warning you today, if cheques are not realised, amount does not come, we will be compelled to send you to Tihar Jail straight away from here,” the bench told Roy asking him to be present on the next date of hearing on June 19.
Roy was present in the court in pursuance to April 17 direction to be present in the court in person.
Seeking some more time to pay the money, he told the court that he would pay Rs15 billion by June 15, another Rs5.52 billion by July 15 and Rs30 billion by October 30.
The court was given two checks of Rs15 billion and Rs5.5 billion towards the payment assured in the month of June and July.
Sahara has still to pay balance Rs111.69 billion of the principal amount of Rs257.81 billion to the investors from whom two group companies — SIRECL and SHICL — had raised in 2008 and 2009 through OFCDs.
Asking Roy to be present in the court on June 19 when court would hold further hearing in the matter, the bench in the meanwhile asked the official liquidator of Bombay High Court Vinod Sharma to proceed with the preparation of the terms and conditions for the auction of Sahara’s Aamby valley property.
The court said that the reserve price for the auction of Aamby Valley would be Rs373.92 billion.
The terms and conditions would be placed before the court on June 19 for it consideration and approval.
