In a further setback to Sahara group chief Subrata Roy, the Supreme
court on Monday March 10,2014 deferred hearing in his case slated for Tuesday March 11,2014,
apparently in the absence of any concrete refund proposal that could
prolong his stay in the jail indefinitely.
On the last date of hearing on March 07,2014 the apex court had asked the Sahara group to come out with "honourable proposal" for depositing Rs 20,000 crores of investors money and posted the hearing on March 11,2014
The cause list put on the SC website on Monday March 10,2014, however, showed that the case, which was listed before a special bench of justices KS Radhakrishnan and JS Khehar, "stands deleted and the same is adjourned".
The reason for the adjournment has not been disclosed and Sahara group's lawyer expressed surprise over it
Note
Subrata Roy was arrested on February 28,2014 after he failed to convince judges that he is serious about repaying nearly 20,000 crores for two Sahara bond schemes that were declared illegal in 2012.
The SC special bench had on March 04,2014 sent Sahara Chief Subrata Roy and two Directors Ravi Shankar Dubey and Ashok Roy Choudhary to judicial custody till March 11,2014 while expressing unhappiness over the proposal of his group on the refund of investors' money.
The SC had rejected Sahara's proposal which had offered to pay Rs 2,500 crore within three days and the rest of the amount in five instalments by the end of July, 2015.
"It is not a proper proposal and the proposal should be honourable,"
On the last date of hearing on March 07,2014 the apex court had asked the Sahara group to come out with "honourable proposal" for depositing Rs 20,000 crores of investors money and posted the hearing on March 11,2014
The cause list put on the SC website on Monday March 10,2014, however, showed that the case, which was listed before a special bench of justices KS Radhakrishnan and JS Khehar, "stands deleted and the same is adjourned".
The reason for the adjournment has not been disclosed and Sahara group's lawyer expressed surprise over it
Note
Subrata Roy was arrested on February 28,2014 after he failed to convince judges that he is serious about repaying nearly 20,000 crores for two Sahara bond schemes that were declared illegal in 2012.
The SC special bench had on March 04,2014 sent Sahara Chief Subrata Roy and two Directors Ravi Shankar Dubey and Ashok Roy Choudhary to judicial custody till March 11,2014 while expressing unhappiness over the proposal of his group on the refund of investors' money.
The SC had rejected Sahara's proposal which had offered to pay Rs 2,500 crore within three days and the rest of the amount in five instalments by the end of July, 2015.
"It is not a proper proposal and the proposal should be honourable,"
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