SC grants 10 days to Sahara Chief to pay Rs 709 cr to SEBI

The Supreme Court on Monday extended till July 4 the time for embattled Sahara chief Subrata Roy to deposit Rs 709.82 crore, out of Rs 1,500 crore which was to be paid by June 15, with a warning that failure to pay the remainder may again land him in jail.

Extending its interim order granting bail to Roy till July 5, a bench of Justices Dipak Misra and Ranjan Gogoi said, "If the balance amount is not paid by that date, we will be compelled to send the contemnor (Roy) to the custody and we are sure he shall not give rise to such an occasion."

At the outset, senior advocate Kapil Sibal, appearing for Roy, said that out of Rs 1,500 crore, which was to be paid by June 15, the Sahara chief has deposited Rs 790.18 crore and ten more working days be granted to him.