The Supreme Court today allowed the Sahara Group to approach its creditor Bank of China for selling equities in three offshore hotels to raise money that can help its jailed chief Subrata Roy to get bail.The Bench of Justices T S Thakur and A K Sikri, which has been constituted after Justice J S Kehar recused from hearing, however, reserved its order on a fresh plea of Roy seeking modification of an earlier order by which he was asked to pay 5,000 crore rupees in cash besides a bank guarantee of an equivalent amount.The Court asked Sahara to file an affidavit within a week about the outcome of the communication with its creditor bank.
News On AIR | May 29, 2014 8:56 PM
SC allows Sahara Group to approach Bank of China for selling equities in 3 offshore hotels to raise money for Subrata's bail