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BW Businessworld

SC Delays Decision On Jailed Sahara Chief Subrata Roy

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The  Supreme Court on Thursday (14 May) deferred a decision on conglomerate Sahara's bid for bail for its jailed boss in a long-running dispute over illegal bonds. 
It gave no date for a decision. 
Subrata Roy has been held in jail for more than a year, after Sahara failed to comply with a court order to refund money it had raised from millions of small investors by selling bonds that were later ruled to be illegal. 
A lawyer for the group said last week Sahara had agreed to pay the full $1.6 billion the court had asked for to release Roy on bail, but the group has yet to publicly outline that plan. 

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