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Saturday, 21 February 2015

Sahara Chief Subrata Roy again send back to Tihar Jail.. Read Why?

Sahara Chief Roy may have to go back to the Tihar jail barracks as the deadline for use of the prison's conference room and other facilities for negotiating deals with prospective buyers of the Group's properties for raising money to ensure his release came to an end on Friday.
Subrata Roy's application filed early this week for extension of facilities by four to six weeks did not come up for hearing and an effort to get relief today from a bench headed by Justice T S Thakur failed. The application was mentioned in the morning and the judge had said, after consulting with other judges of the special bench, that some message would be given. Senior advocate Shekhar Naphade, who is assisting the court as an amicus curiae in the matter, also said that Roy's application was not taken up for hearing and it will be heard next week.
Court had asked Sahara Chief Subrata Roy to pay Rs 10,000 crore (Rs 100 billion) to get bail, out of which Rs 5,000 crore (Rs 50 billion) should be paid in cash and rest in bank guarantee, had on January 9 extended its August 1, 2014 order for conference facility for him in Tihar jail to deal with the nitty-gritty of the transaction till February 20.
When Sahara's counsel, on February 17, had orally made a mention for extending the facilities, the apex court had expressed concern over how the Group would raise money to secure Roy's release saying "you are struggling to pay Rs 10,000 crore. How will you pay Rs 30,000 crore (Rs 300 billion) after coming out." The court had asked the counsel for Sahara group to file an appropriate application in regard to its request. 

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