Speak logically dear Sahara- Supreme Court Of India
The esteemed SC (Supreme Court of India) clamped down on Sahara Group’s request which stated the need to release many of it’s directors including the top lead of them all, Subrata Roy. The plea was rejected on Monday, says a source which clearly stated if INR 10,000 crore wasn’t deposited, the case status quo stands as it is.
There were hints that the embargo on bank accounts being operated would be lifted though, and the company in the red, Sahara Group could now start selling its assets which would help them fetch around INR 5000 crores in cash money, and along with that another INR 5000 crores using the concept of bank guarantees, say sources
Justices TS Thakur along with AK Sikri have made it very clear voicing out their refusals on the pleas of having Subrata Roy of Sahara Group under the norms of house arrest in Lucknow till INR 10000 crore was paid in full. The honourable justices have also asked Sahara Group to now come up with proposals that are specific and precise, along with valuation reports and data, and a letter of intent by the end of next week on how they plan to raise the amount to release Roy.
Until the amount is paid in full, Subrata Roy has no where to go than to treat Tihar Jail as a home until further notice.
Source: The Financial Express
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