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Subrata Roy


Subrata Roy is an Indian Businessman. He is the founder and chairman of Sahara India Pariwar.

Subrata Roy founded Sahara India Pariwar in 1978. The conglomerate has diversified ownership interests that includes Pune Warriors India, London's Grosvenor House, New York's Plaza Hotel, Aamby Valley City and Force India, Sahara India Real Estate Corporation and Sahara Housing Investment Corporation.

Arrest

Subrata Roy was jailed in March 2014 after he failed to appear at a contempt hearing in the long-running dispute with SEBI over his company's failure to repay billions of dollars to investors who were sold outlawed bonds. Roy denied he has done anything wrong and is yet to be charged.

In August 2014, Subrata Roy has been lodged at the Tihar jail. According to the directions of the Supreme Court, he was allowed to set up a modest office in the jail premises to sell his properties to secure a bail bond of $1.6 billion. Roy was given a 600 square feet office from where he can hold video conferences and receive visitors to sell or mortgage the hotels that he own.

Timeline

Supreme Court of India has ordered a non-bailable warrant against Subrata Roy for failing to appear before the court in case of non refund of Rs. 20,000 crore to investors by two of his companies. The court directed that Roy should be produced before the Court on March 4, 2014 at 2:00 pm. Roy's plea for exemption from personal appearance on the grounds of ill-health of his mother has been rejected. Feb 25, 2014

Supreme Court rejected the proposal of Sahara group to refund Rs. 20,000 crore to investors. Subrata Roy will remain in Tihar jail at least till March 11, 2014. Mar 7, 2014

Subrata Roy in News

SES and Intersat to Expand Internet Service Offerings to East Africa
Business Wire IndiaSES S.A. (NYSE Paris:SESG) (LuxX:SESG), a world-leading satellite operator, and Intersat announced that they have signed a multi-year contract to expand Intersat’s internet service offerings to East Africa.

Sahara chief Subrata Roy to stay in jail
Sahara chief will have to be Tihar Jail following the Supreme Court said on Friday rejecting as 'an insult' proposal from the firm to repay Rs 20,000 crores of rupees to small investors

Supreme Court sends Sahara chief to police custody
Subrata Roy sent to 7-day judicial custody

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