Sahara proposes to pay over Rs 11,000 crore to ensure ‘absolute’ release of Subrata Roy

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The Sahara Group on Monday presented in the Supreme Court a roadmap for repayment of an outstanding amount of over Rs 11,136 crore to SEBI and proposed to clear its liability in 21 instalments in two-and-a-half years to ensure “absolute” release of its chief Subrata Roy.

The group submitted the application, along with a payment plan, seeking approval of the apex court and for “absolute” release of Roy and two directors Ashok Roy Chaudhary and Ravi Shankar Dubey once the amount is paid.

The proposed plan was placed before a bench comprising Chief Justice T S Thakur and Justices Ranjan Gogoi and A K Sikri, which asked SEBI and senior advocate Shekhar Naphade, who is assisting as amicus curiae in the matter, to respond to it.

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