Dynamite News SC extends parole of Subrata Roy till July 5
A case is being heard in the Supreme Court involving Subrata Roy and the SEBI over a dispute of returning money to its investors.
New Delhi: The Supreme Court on Monday extended the parole of Sahara India's Chief Subrata Roy till July 5.
A case is being heard in the Supreme Court involving Subrata Roy and the Securities and Exchange Board of India (SEBI) over a dispute of returning money to its investors.
Roy on May 18 did not appear before the SEBI court after filing an exemption application on medical grounds.
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However, the special SEBI court rejected Roy's plea.
The SEBI court was to frame charges in the case against Roy and his three group firms' directors - Ravishankar Dubey, Ashok Roy Choudhary and Vandana Bhargava.
On April 21, a SEBI court had cancelled the non-bailable arrest warrants against Roy and three of his group firms' directors after they appeared before it in a case filed by the SEBI against them.
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The SEBI court cancelled the NBWs against them after they furnished fresh bail bonds of Rs. 2 lakh each and gave undertakings to the court that they would attend its trial proceeding against them regularly.
The SEBI had registered a case against Sahara India Real Estate Corporation, Sahara Housing Investment, their promoter Subrata Roy and the three directors in 2012, alleging that these companies had collected a huge sum of money from investors without listing the securities on the stock exchanges. (ANI)