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Subrata Roy of Sahara Goup granted bail

The boss of Sahara conglomerate, Subrata Roy was finally given a release order for interim bail by the Supreme Court of India as he is languishing in a Delhi jail since March 4, 2014 after having been arrested in Lucknow from his palatial residence on February 28. Roy is to be released from his current custody only after the Sahara Group pays up Rs. 5000 crores in cash and a bank guarantee amounting to Rs. 5000 crores for Sebi. Sahara Group’s lawyers have asked the court to grant them access to the frozen bank accounts of the and are group expecting a decision from the court by today, Thursday, March 27. Roy has been given bail only to raise money to pay Sebi the refund for investor money from depositors in questionable bonds. Justices K.S. Radhakrishnan and J.S. Khehar granted bail to two directors of the Sahara Group Ravi shankar Dubey and Ashok Roy Choudhury also.

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