Sahara Group stocks fall 5pc as Subrata Roy, two directors sent to jail

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Sahara-groupraharShares of two Sahara firms fell by up to 5 per cent, after the group’s chief Subrata Roy and two directors were jailed for a week for not complying with the Supreme Court order on refunding around Rs. 20,000 crores of investors’ money.

Sahara One Media & Entertainment’s scrip tanked 4.92 per cent to Rs. 61.80 — its lowest trading permissible limit for the day at the BSE.

Shares of Sahara Housingfina Corporation were also down by 3.15 per cent touching its lower circuit limit of Rs. 39.25.

Amid high drama in the apex court premises yesterday, where a Gwalior resident threw ink on Mr. Roy and blackened his face, a two-judge bench minced no words to tell him, “You pushed us to the corner. Had you been serious, this position would not have arisen”.

Making it clear that the order on custody of Mr Roy and two other directors Ravi Shankar Dubey and Ashok Roy Choudhary was not in the contempt case, the court spared another director Vandana Bhargav because of her being a woman. It fixed March 11 as the next date of hearing.