SC extends Subrata Roy`s parole till June 19; warns to put him in jail for non-payment of Rs 1,500 crore

The Apex Court last week directed sale of Sahara`s Aamby Valley at Lonavala and appointed Bombay HC official liquidator for selling the property.

New Delhi: Sahara chief Subrata Roy on Thursday reached Supreme Court in compliance of its order directing him to appear before it. The court has extended his parole till June 19.

Roy took an undertaking in SC to pay Rs 1,500 crore in SEBI-Sahara account on or before June 15. He furnished a post-dated cheque of Rs 552 crore to be realised by the mentioned date.

The SC has asked Roy to be present in court on June 19, the next date of hearing issuing a warning that he may be sent to jail again if the amount is not paid.

SC has also asked Bombay HC's official liquidator to prepare terms for auctioning Aamby Valley for its approval on June 19.

The Supreme Court had on April 6 said if the Sahara Group fails to deposit Rs 5092.6 crore in SEBI-Sahara refund account by April 17 in pursuance of its order, it will be "compelled" to auction its property valued at Rs 39,000 crore at Aamby Valley in Pune.