Ready to pay Rs 300 crore: Subrata Roy to SC

New Delhi: Sahara chief Subrata Roy, on Friday, told Supreme Court of India that he was ready to pay the additional amount of Rs 300 crores which he said should be adjusted to the bank guarantee.

Subrata Roy had been given an extension by SC till September 16 to enable him to deposit Rs 300 crore with the Securities and Exchange Board of India (SEBI).

Earlier in July, the SC had extended his parole following the death of his mother till August 3, 2016, on the condition that he would pay Rs 300 crore of the total Rs 500 crore promised by him. Senior advocate Kapil Sibal had appealed in SC to extend the deadline to a year but the SC bench had declined the request saying that he had already been given a long extension. When Kapil Sibal argued citing problems while selling the properties, the SC bench suggested the appointment of a receiver and entrusting him with all the property.

Roy had already been given an extension till September 16 to enable him to deposit Rs 300 crore with SEBI. He along with two other directors had been sent to Tihar jail by the order of SC for his failure to return investors Rs 17,600 crores with an interest of 15%.

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