SC GRANTS BAIL TO SUBRATA ROY, BUT NO RELEASE WITHOUT PAYING RS 10,000 CR

subrata roy Sahara

NEW DELHI (TIP): The Supreme court on June 19 granted bail to jailed Sahara group chief Subrata Roy but said he would be released from Tihar Jail only after the group paid up Rs 10,000 crore, half in cash and half through bank guarantee.

The SC said on the day Roy meets the condition he would be released and from then and in the next 18 months, he has to pay up the rest of the amount, which is around Rs 20,000 crore more.

The Rs 20,000 crore amount has to be paid in 9 equal instalments and one instalment every two months.

If he failed to pay three instalments, not necessarily consecutive, Roy would be taken back into custody, the court warned.

The SC also said in the event of Roy’s release, he would deposit his passport and cannot go out of India without prior permission of court.

The court also asked him to report to Tilak Marg police station in New Delhi every fortnight.

The SC extended communication and conference facility to Roy in Tihar jail for another eight weeks.

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