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Rs 36,000 crore in 18 Months? No Chance!
By: Tupaki Desk | 8 July 2015 1:07 PM GMT
The Supreme Court has directed Sahara Group to deposit Rs 36,000 crore within 18 months in 9 instalments to obtain bail for its chief Subrata Roy. It also mentioned Subrata Roy and two other Directors of the company will be arrested again if they fail to deposit any three instalments.
Sahara's Counsel Kapil Sibal told the Apex Court that no company in the World could be able to pay Rs 36,000 crore in such short time.
Since March 2014, Subrata Roy is in Jail for allegedly duping 3 crore Investors to the tune of Rs 24,000 crore. Earlier, Court asked him to deposit Rs 10,000 crore for bail but he was unable to do so. Until now, The Sahara Chief deposited Rs 5,120 crore in cash and raising the rest of the amount by selling its properties. Supreme Court's recent order asking Sahara Group to deposit Rs 36,000 crore hints Subrata Roy and the Two Directors will remain in Tihar Jail for at least few more months. Next hearing of the case will be on Monday.
Sahara's Counsel Kapil Sibal told the Apex Court that no company in the World could be able to pay Rs 36,000 crore in such short time.
Since March 2014, Subrata Roy is in Jail for allegedly duping 3 crore Investors to the tune of Rs 24,000 crore. Earlier, Court asked him to deposit Rs 10,000 crore for bail but he was unable to do so. Until now, The Sahara Chief deposited Rs 5,120 crore in cash and raising the rest of the amount by selling its properties. Supreme Court's recent order asking Sahara Group to deposit Rs 36,000 crore hints Subrata Roy and the Two Directors will remain in Tihar Jail for at least few more months. Next hearing of the case will be on Monday.
