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SC refuses to extend Parole of Sahara Chief Subrata Roy

 2016-09-23 06:59:42.0

subrata-roy-court-declines-parole Tahlka News Desk: New Delhi:�SC refuses to extend parole of Sahara chief Subrata Roy. Now Subrata Roy have to go back to jail with the Supreme Court decision. A bench led by Chief Justice T S Thakur said Roy�s parole shall stand terminated immediately and that he would be taken back to Delhi�s Tihar Jail by the police officials. The order was passed after his counsel Rajiv Dhavan objected to the court�s nod to Sebi for selling Sahara group�s properties on their own. Dhavan called it �very unfair� and also demanded extension of parole while the group would adduce at a later date its plan to deposit more money for refunding investors. At this CJI Thakur blasted Dhavan saying: �Don�t tell us what to do we know what we need to do. You go back to jail. The previous order stands terminated.� Roy had been out since May when his mother passed away. Later the court kept extending his parole on the condition of depositing money with the Sebi towards refunding investors. On August 26, Roy offered to pay an additional Rs 300 crore to Sebi but said that this amount should be adjusted as bank guarantee that he required to furnish for a regular bail. �I am ready to pay additional Rs 300 crore but this amount should be adjusted as a bank guarantee,� Sibal told the bench that also comprised Justices A M Khanwilkar and D Y Chandrachud. On August 3, the Supreme Court had extended Roy�s parole till September 16 on the condition that he deposit Rs 300 crore more with the Sebi. Roy was given parole in May with a stipulation of depositing Rs 500 crore with Sebi for refunding investors by August first week.

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