Sahara Group on Friday said that it was ready to pay the remaining amount to ensure the release of its Chief Subrato Roy, who has been in jail for non-refund of over Rs. 20,000 crore to depositors.
The company said that it will pay the entire bail amount by next week. Sahara has so far made a partial payment of Rs. 3,000 crore after the SC lifted a freeze on its assets. The apex court had asked 65-year-old Roy to pay Rs. 10,000 crore to get bail, out of which Rs. 5,000 crore should be paid in cash and rest in bank guarantees.
Sahara has made several failed attempts to raise the money to free Roy on bail in the last one year. He has been held in jail for more than a year after regulators said Sahara failed to comply with a court order to refund billions of dollars to investors in a bond programme that was ruled illegal.
