SC asks Roy, Tihar authorities to work out conferencing facility
31 July 2014 5:49 AM IST
The Supreme Court on Wednesday asked the Sahara group and Tihar Jail authorities to work out modalities for conferencing facilities for Subrata Roy and his two other directors, who are lodged in jail, for negotiating hotel deals in New York and London.
A three-member bench of Justice TS Thakur, Anil R Dave and AK Sikri asked both Roy and jail authorities to work out the details for a viable proposition which shall be reviewed by the court on Friday. The apex court on 25 July had asked the Delhi government to examine what facilities it could extend to Sahara chief in jail complex to facilitate negotiations for group’s property deals without compromising security.
The jail authorities gave the options of setting up conference facilities for Roy to negotiate the deal. However, Roy’s counsel Harish Salve expressed difficulty with the lock out time of 6 am and lock in time of 8 pm as ‘it was not working out for the international clients based in New York or London.’
He also expressed reservations about jail authorities not allowing secretarial staff to stay beyond 8 pm.
Upon hearing his plea, the court asked Salve to submit a concrete proposal to the jail authorities, which will be further reviewed by the court on Friday. The Sahara group is negotiating a deal with prospective buyers to sell off its hotels in London and New York to raise Rs 10,000 crore, part payment of Rs, 24,000 crore that his subsidiary companies owe to lakhs of small investor who purchased bonds issued by them.
The court had asked Sahara to deposit Rs. 10,000 crore initially to secure his release along with two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary on bail.
A three-member bench of Justice TS Thakur, Anil R Dave and AK Sikri asked both Roy and jail authorities to work out the details for a viable proposition which shall be reviewed by the court on Friday. The apex court on 25 July had asked the Delhi government to examine what facilities it could extend to Sahara chief in jail complex to facilitate negotiations for group’s property deals without compromising security.
The jail authorities gave the options of setting up conference facilities for Roy to negotiate the deal. However, Roy’s counsel Harish Salve expressed difficulty with the lock out time of 6 am and lock in time of 8 pm as ‘it was not working out for the international clients based in New York or London.’
He also expressed reservations about jail authorities not allowing secretarial staff to stay beyond 8 pm.
Upon hearing his plea, the court asked Salve to submit a concrete proposal to the jail authorities, which will be further reviewed by the court on Friday. The Sahara group is negotiating a deal with prospective buyers to sell off its hotels in London and New York to raise Rs 10,000 crore, part payment of Rs, 24,000 crore that his subsidiary companies owe to lakhs of small investor who purchased bonds issued by them.
The court had asked Sahara to deposit Rs. 10,000 crore initially to secure his release along with two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary on bail.
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