SC grants conditional bail to Sahara chief Subrata Roy

Posted: March 27, 2014 in Current Affairs, World Affairs
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NEW DELHI: The Supreme Court on Wednesday asked Sahara group chief Subrata Roy to deposit Rs 10,000 crore with the market regulator Sebi for his release on interim bail from judicial custody.

The apex court bench of Justice KS Radhakrishnan and Justice JS Khehar said that of the Rs 10,000 crore, Rs 5,000 crore would be deposited in cash, and the balance Rs 5,000 crore will be furnished through a bank guarantee.

The SC has also agreed to defreeze bank accounts of Sahara companies to raise the Rs 10,000 crore and adjourned the case for tomorrow asking the group to give details of the bank account numbers which are to be defreezed.

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