SC extends Sahara chief Subrata Roy’s parole till April 17

New Delhi: The Supreme Court on Tuesday extended the parole of Sahara Group chief Subrata Roy till April 17.

The apex court also directed Sahara Group to deposit Rs 5092.6 crore by April 7 to keep its chief Subrata Roy out of jail and said the amount will be refunded to the investors.

The SC asked entity willing to buy Sahara's stake in US hotel to deposit Rs 750 cr in the apex court registry by April 10.

Sahara chief Subrata Roy was sent to Tihar jail on March 4, 2014, for not complying with the apex court’s orders in connection with a long dispute with the market regulator, Securities and Exchange Board of India (SEBI).

The SEBI had alleged that Roy allegedly failed to comply with the apex court’s order directing him to return the investors’ money.