Subrata Roy back to Tihar by Supreme Court
Subrata Roy’s parole cancelled
Subrata Roy back to Tihar by Supreme Court:- The Supreme Court has terminated the parole and other interim arrangements which were allowed to Sahara chief Subrata Roy, on Friday. This was after the Securities and Exchange Board of India (Sebi) informed that it had to further receive intimation from the Income Tax department that the group’s properties that were being put on auction were already under the provisional attachment. Two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary are also likely to go back to jail.
Subrata was earlier released on a two-day parole in May in order to attend his mother’s funeral. He has since then allowed a few extensions that were about the conditions of payment of part dues. Two group firms were also ordered to repay Rs 24,029 crore to investors along with a 15 percent interest in 2012. The regulator also claims that the dues have now swelled to about Rs 40,000 crore.
As various efforts by Roy and his group to repay the sum failed, the Supreme Court had directed Sebi to auction 67 properties to collect the amount due.
Properties of Sahara for auction
According to Sebi, of the 67 properties of Sahara group that have been put on auction as per the Supreme Court’s directions, 63 stood provisionally attached to the account of assessed dues of Sahara City Homes for the assessment Year 2012-13.
A lawyer who has attended the proceedings said that, Sebi has informed that it has filed an IA (interim application) which has informed about the income tax letter and further seek directions on whether sale certificates needs to be issued despite the attachment orders. It has even said that out of the eight properties which are already sold, five are under attachment.
Following this, the bench that was headed by the chief justice of India TS Thakur has ordered the interim arrangements for Roy and others terminated. He has also questioned that the group on how it could present properties which were already attached for auction to the court.
Sahara lawyer Rajeev Dhawan has also protested that the regulator has not shared the details of the attachment. Earlier, Dhawan had sought time till September 30 for extension of the interim arrangement.
The court has allowed the Sahara group to further file a fresh plea, which would be taken up for hearing in due course.
The action now moves to Lucknow, from where Roy needs to be brought back to Tihar Jail.