Sahara case: Subrata Roy to stay in jail as Supreme Court rejects plea
- 5 years ago
The Supreme Court on Tuesday rejected the plea by Sahara chief Subrata Roy challenging its March 4 order sending him to judicial custody for not complying the order to return investors money by routing it through SEBI.
Roy and two directors were sent to judicial custody for the failure of group's two companies' SIRECL and SHICL to comply with its order to return investors' Rs.24,000 crore that they had collected through Optionally Fully Convertible Debentures (OFCDs).
Roy will continue to remain in custody as the court has asked his counsel to make a revised proposal to return investors' money to secure his release.
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Roy and two directors were sent to judicial custody for the failure of group's two companies' SIRECL and SHICL to comply with its order to return investors' Rs.24,000 crore that they had collected through Optionally Fully Convertible Debentures (OFCDs).
Roy will continue to remain in custody as the court has asked his counsel to make a revised proposal to return investors' money to secure his release.
For More information on this news visit: http://www.itvnewsindia.com/
For More information on this news, visit: http://www.indianews.ind.in/
Connect with us on Social platform at: http://www.facebook.com/IndiaNewsTV
Subscribe to our You Tube channel: https://www.youtube.com/user/itvnewsindia
Connect with us on Social platform at: https://www.facebook.com/pages/India-News/371196196360607