Sahara group said it would pay the entire sum by March 15, 2015
Subrata Roy - File Photo
New Delhi: Sahara Group chief Subrata Roy was on Wednesday granted conditional bail by the Supreme Court, that ruled he will first have to deposit Rs 10,000 crore with Sebi, half of it in cash.
The ruling comes a day after Sahara submitted a fresh proposal to refund Rs 20,000 crore that it owes to 30 million small investors. On Tuesday, the firm said it would pay the entire sum by March 15, 2015.
A bench of Justices K.S. Radhakrishnan and J.S. Khehar said interim bail will be granted only after Sahara fulfils the condition while it agreed to defreeze the firm’s bank accounts to raise money.
( Source : dc correspondent )
Next Story
