SC cancels Roy’s parole, but agrees to reconsider

Legal Correspondent

New Delhi, September 23

The Supreme Court on Friday cancelled the parole granted to Sahara group chief Subrata Roy and directors AR Choudhary and RS Dubey, but hours later agreed to reconsider its order.

A Bench headed by Chief Justice TS Thakur passed the order when Roy’s senior counsel Rajeev Dhavan took exception to a remark that his client would have to go back to jail if stock market regulator SEBI had to involve Sahara in the sale of the group’s properties.

(Follow The Tribune on Facebook; and Twitter @thetribunechd)

“It is not a fair statement” as Sahara had deposited Rs 352 crore (Rs 52 crore in excess of the amount specified by the Bench in its last order), Dhavan pleaded in response to the remark by the Bench.

“Don’t tells us what to do,” the Bench said and cancelled the parole, granted on May 6 following the death of Roy’s mother and extended from time to time subject to part payments. Justices Anil R Dave and AK Sikri were the other members of the Bench.

Roy and the two directors had remained in Tihar Jail here since March 4, 2014, for their failure to refund about Rs 25,000 crore collected by two of their companies through debentures, declared illegal by SEBI later and upheld by the Supreme Court.

Shortly after the Bench passed the adverse order, Sahara moved an application tendering an unconditional apology for Dhavan’s remark and removing the senior advocate from the case. It then mentioned the matter to the CJI Bench, whose composition had changed by then as Justices AM Khanwilkar and DY Chandrachud were sitting with the CJI.

The CJI said he would take a decision on the plea for recalling the order in consultation with the judges concerned.

SEBI told the Bench that eight of the 58 properties put on action had been sold for Rs 137 crore.