The Supreme Court today asked market regulator SEBI to initiate the process of selling 87 unencumbered properties of Sahara group, to generate the bail money for release of its chief Subrata Roy. A three-judge bench headed by Chief Justice T S Thakur also asked the regulator not to sell any of the properties below 90 per cent of the circle rates.The order, came after the petitioner's counsel submitted that the company was finding it increasingly difficult to sell its properties in the current market environment.<br/><br/>For the interim bail of 67-year-old Roy, the court had put conditions like depositing Rs 5,000 crore in cash and a bank guarantee of equal amount and tough terms including payment of the entire Rs 36,000 crore, which includes interest. The money will be paid back to the investors of Sahara. Roy has been in prison since March 4, 2014.
News On AIR | March 29, 2016 9:01 PM
SC directs SEBI to sell Sahara's real estate assets to recover investors' dues