NEW DELHI, June 4: The Supreme Court today made it clear that Sahara Group chief Subrata Roy will be released from jail only after he deposits Rs 10,000 crore with the SEBI for refunding the money of investors.
A bench comprising Justices T S Thakur and A K Sikri dismissed his petition for keeping him under house arrest. The apex court, however, permitted the Sahara Group to sell his properties and also allowed him to encash FDRs to arrange Rs 10,000 crore.
Roy and two other directors of the Group are in the Tihar jail since March 4.
Roy was arrested and imprisoned for not depositing Rs 20,000 crore which is to be refunded to a large number of investors who had invested in two real estate companies floated by the Sahara group.
(UNI)
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