Sahara chief offers in SC to pay Rs 300 crore as bank gurantee

NEW DELHI: Sahara chief Subrata Roy on Friday offered in Supreme Court to pay an additional Rs 300 crore to Security and Exchange Board of India (SEBI) but said the amount should be adjusted as bank guarantee.

A bench headed by Chief Justice T S Thakur directed that the matter be listed next week after senior advocate Kapil Sibal, appearing for Roy, mentioned the matter before it.

“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 parole+ of Sahara chief Subrata Roy till September 16 till September 16 with a condition that he has to deposit Rs 300 crore with SEBI.

Roy’s parole, granted on humanitarian grounds following the death of his mother, was extended after he had deposited Rs 300.68 crores, giving him the opportunity to raise the remaining amount to secure bail in the case.

Click here for more…