Inclined to “give one chance” to Sahara chief Subrata Roy, the Supreme Court Wednesday extended his parole till July 11 to enable the group to deposit Rs 200 crore with Sebi. The parole, granted to Roy and two other directors of Sahara following the death of his mother, was set to expire on June 4.
While extending the time period, a bench led by Chief Justice T S Thakur directed Roy and Sahara Group director Ashok Roy Choudhary to furnish individual undertakings to prove their bonafide and seriousness.
Roy and the directors were put behind the bars since March 2014 on the orders of the apex court over their reported failure to repay the investors and deposit money with the Sebi.
On Wednesday, the bench, also comprising justices A R Dave and A K Sikri, made it clear that Roy would have to go back to prison if he fails to deposit Rs 200 crore by July 11. “You must stick to your promises now. Earlier promises were broken. We hope you would not want to go back (to jail),” the bench told Roy’s counsel Kapil Sibal.
Why would a man like Sahara group chief Subrata Roy suffer two years of incarceration in Tihar if his dues did not add up to even a fraction of his personal wealth? Why would such a wealthy person not just settle his dues?
These were pointed questions the Supreme Court posed on Wednesday when it scanned details of Roy’s wealth while hearing his plea for an extension of his interim bail to six months after the business magnate was released on custodial parole on May 11 to complete rituals linked to his mother’s death.