Supreme Court issues non-bailable warrant against Sahara Chief

Supreme Court issues non-bailable warrant against Sahara Chief New Delhi: the Supreme Court today issued a non-bailable warrant against Sahara chief Subrata Roy for his failure to appear in court. The court has also directed Sahara chief to appear before it on March 4.

Subrata Roy failed to appear before the SC today in connection with the failure of his companies to refund Rs 20,000 crore to investors.

A bench of justices K S Radhakrishnan and J S Khehar yesterday made it clear that rule of law has to be maintained and Roy has to comply with its February 20 order in which he along with three directors of his companies have been summoned to appear.

The bench did not agree with Sahara Chief’s counsel Ram Jethmalani’s submission that he be granted exemption from personal appearance and he will make payment as per the directions.

When Jethmalani mentioned the matter, the bench said the rule of law should prevail and court’s order should be implemented in letter and spirit.

The bench had on February 20 come down heavily on the Sahara group for not refunding Rs 20,000 crore of investors money despite its order and summoned Roy, Ravi Shankar Dubey, Ashok Roy Choudhary and Vandana Bhargava, directors of its firms–Sahara India Real Estate Corp Ltd (SIREC) and Sahara India Housing Investment Corp Ltd (SHIC) to be personally present before it today.

Bureau Report

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