Too Costly – 10,000 Crores For His Bail

Posted : March 27, 2014 at 11:46 am IST by ManaTeluguMovies
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In a puzzling happening, Supreme Court ordered arrested Sahara chief Subrata Roy to pay 10,000 crores on a whole for his conditional bail. Asking Subrata to pay 5,000 crores in cash to SEBI, and another 5,000 crores as Bank Guarantee, Court stated that they will defreeze bank accounts of Subrata and Sahara Company.

As Sahara Group that operates different types of businesses in India failed to pay Rs 20,000 crore dues to market regulator SEBI, company’s chief Subrata Roy was sent to jail on March 4th by the top court. Though SC is not interested to grant him bail earlier, the Court considered the fresh proposal made by Sahara and granted the conditional bail, and has asked them to respond on it in two days.

In the proposal submitted by Sahara to court, they assured to deposit Rs.2,500 crore within three working days and pay three instalments of Rs.3,500 cr each at the end of June, September, December and the remaining Rs.7,000 crore by March 31, 2015. We have to see if Subrata Roy will be able to pay what Supreme demanded in their conditionalbail.