SC reserves its order on Subrata Roy's release

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#SupremeCourt today reserved its order on conditions relating to Sahara Chief Subrata Roy's release from jail. Mr. Roy, who has been in Tihar Jail since March 4, 2014, was hoping to walk out of jail as his bail application and other issues were expected to be taken for consideration by the apex court today. No date for a decision was given by the court.

The Sahara Group had failed to comply with a court order to refund money it had raised from millions of small investors by selling bonds that were later ruled to be illegal. The apex court on March 26, 2014 had asked Roy, to pay Rs.10,000 crore to get bail, out of which Rs.5,000 crore should be paid in cash and rest in bank guarantees. 



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