Millennium Post

Sahara floats new proposal

Sahara group on Thursday told Supreme court it is willing to pay Rs 2,500 crore within four days and another Rs 2,500 crore in cash within 60 days for release of its chief Subrata Roy and two directors.

Appearing before a bench of justices KS Radhakrishnan and JS Khehar, senior counsel Ram Jethmalani and Rajiv Dhavan submitted that the comapny would make an upfront payment of Rs 2,500 crore within four working days and a further payment of Rs 2,500 crore within 60 days of the release of its group chairman and other detenues.

They also sought a further time of 90 days to furnish a bank guarantee of Rs 5,000 crore or to make the cash payment in lieu thereof as ordered by the apex court for getting bail of Roy and two directors, Ravi Shankar Dubey and Ashok Roy Choudhary. 
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