SC takes note of deposit of Rs 710.22 cr by Sahara chief
By Team Legistify / 2017-07-08

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The Supreme Court today noted that embattled Sahara chief Subrata Roy has deposited Rs 710.22 crore in the SEBI-Sahara account, but warned that its cheque of Rs 552.21 crore must be realised within the July 15 deadline.

The apex court rejected Roy’s request to extend time beyond July 15 for realisation of this cheque.

Roy had earlier told the court that he will pay Rs 1,500 crore on or before June 15 and Rs 552.22 crore exactly a month thereafter.

However, he had paid Rs 790.18 by June 15 and was granted 10 more days till July 4 for payment of Rs 709.82 crore by a bench headed by Justice Dipak Misra.

The apex court today noted that Sahara has deposited a total of Rs 1500.40 crore and now Rs 9,000 crore remained due on the principal amount of Rs 24,000 cr.

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