Sahara moves apex court over 'illegal' detention of Subrata Roy
Sahara group moves the Supreme Court pointing to the "illegal" detention of its chief Subrata Roy
New Delhi: Sahara group on Wednesday moved the Supreme Court pointing to the "illegal" detention of its chief Subrata Roy in a matter involving returning investors' balance of Rs 19,000 crore that its two companies SIRECL and SHICL had collected through Optionally Fully Convertible Debentures (OFCD).
Sahara group chief Subrata Roy being questioned by media personnel outside court premises in Uttar Pradesh. Pic: AFP
The apex court bench headed by Chief Justice P. Sathasivam said that it will hear the matter at 2 pm on Wednesday after the same was mentioned by senior counsel Ram Jethmalani.
Subrata Roy was sent to judicial custody on March 4 by the apex court bench of Justice KS Radhakrishnan and Justice JS Kehar for his failure to place before the court an acceptable proposal for securing the investors money.