• Wednesday, May 25, 2022

Business

Supreme court grants Sahara chief Subrata Roy temporary relief

Sahara Group Chairman Subrata Roy

By: Eastern Eye Staff

INDIA’S supreme court extended embattled Sahara conglomerate chief Subrata Roy’s parole by a week on Friday (September 23), temporarily staying an order it had issued just hours before that he be taken back into custody. Roy was first arrested in March 2014 after Sahara, a household name in India, failed to comply with a court order to refund 360 billion rupees ($5.4 billion) raised from millions of small investors by selling them bonds later ruled to be illegal. Roy was released from prison on parole in May and the hearing on September 23 was to determine whether it should be…

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