New Delhi: The Supreme Court on Wednesday granted conditional bail to Sahara chief Subrata Roy and has asked the Sahara group to pay Rs 10,000 crores. The case has been listed for hearing on Thursday.
Subrata Roy is lodged in Tihar Jail since March 4.
Subrata Roy and two Sahara directors are in jail for contempt after they failed to appear before the apex court despite repeated summons in connection with a refunds case. Sahara group owes more than Rs 20,000 crores to its investors.
Roy has sought bail on the grounds that his detention order was illegal.
The Sahara Group had on Tuesday made a fresh proposal to the Supreme Court saying that it will repay the entire amount it owes to its investors in five instalments by March 31, 2015.
The company had said that it will pay Rs 2500 crore within three working days after the proposal is accepted by the court.
Sahara had also prayed to the court that it should permit the companies to allow operation of their bank accounts.
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