The Supreme Court on Monday directed the Sahara Group to submit it in a sealed cover the financial arrangement deal taken place between Sahara, Bank of China and others to enable the release of its Chief Subrat Roy Sahara. A three-Judge bench, also extended the office facilities in Tihar Jail to Subrata Roy till the end of September.<br/><br/>A prospective buyer alleged in the Apex court that former IPL chairman Lalit Modi is negotiating on behalf of Sahara to sell overseas properties of the group. Sahara Group said it was not willing to sell its three overseas hotels, but assured the Court that by September 14, the next date of hearing, things will be clear and submit the offers it received in a sealed cover.<br/><br/>Subrata Roy and two directors of the Sahara group are in Tihar jail since March 4, 2014, for contempt of court and not paying the 24000 crore rupees to the investors, along with 15 percent interest. The total amount along with interest component now stands at Rs 36,000 crore.
News On AIR | August 17, 2015 6:00 PM
SC directs Sahara to submit arrangement deal for release of its chief