Supreme Court issues non bailable warrant to Sahara chief Subrata Roy
February 26, 2014 - New Delhi
The Supreme Court on Wednesday served a non-bailable warrant against Sahara chief Subrata Roy following his failure to turn up before the court.
A Bench comprising Justice KS Radhakrishnan and Justice J.S. Khehar has issued warrant for non-appearance before the court returnable by March 4. They have declined his petition for exemption from personal appearance.
The court had on February 20 come down heavily on the Sahara group for not refunding Rs 20,000 crore of investors' money despite its order and summoned Roy, Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms -- Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) to be personally present before it today.
The Bench observed that SEBI could go ahead with the sale of properties of the group and recover Rs.20,000 crore.