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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