Bailable warrant issued against Sahara chief Subrata Roy
Dec 14, 2022
Jabalpur (Madhya Pradesh) [India], December 14 : Madhya Pradesh High Court issued a bailable warrant against Sahara chief Subrata Roy and directed SP Lucknow to execute the warrant.
Lawyer Ankit Mishra of Madhya Pradesh High Court told ANI, "There are 20 petitions registered against Sahara Chief Subrata Roy. Madhya Pradesh High Court issued bailable warrant of Rs 5 lakh against him."
Subrata Roy had been in troubled waters after the group failed to return Rs 85,000 crore to its investors by August 31, 2012, as directed by the court.
Roy, who is out on interim bail, has already spent two years in jail regarding the matter and the Sahara group is yet to return Rs 9,000 crore to the investors.
Earlier the Securities and Exchange Board of India (SEBI) also made a complaint to the apex court and sought contempt proceedings against the Sahara group for obstructing the auctioning process, initiated under the court's direction.
Ankit Mishra has said, "Vishnu Prasad Sahu and his family from Sagar had invested Rs 2300000 in Sahara. After maturity, Sahara did not return the money. After a lot of trouble, they took the matter to the High Court and today the High Court has issued a bailable warrant."
