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News18 » Videos » News18 Shorts

Subrata Roy to stay in jail, SC rejects his writ petition

May 06, 2014 11:04 AM IST Business Business

New Delhi: In a setback for Sahara chief Subrata Roy, the Supreme Court has rejected his writ petition challenging his detention. Roy will therefore, continue to stay in jail.

Roy had challenged the apex court's jurisdiction to detain him in jail for not refunding investors' money. The court has asked Subrata Roy to submit a fresh proposal if he wants bail.

The Supreme Court has lashed out at Roy saying there were attempts to put pressure on the judiciary. Justice Kehar in the ruling said, "Calculated psychological offensives and mind games for recusal of judges by advocates should be repulsed."

Roy had last week made a plea before the Supreme Court to pass an early order on his petition challenging his detention, saying temperature in the capital has gone up and he is not feeling well in jail. "The temperature has soared up and the gentleman is not well," senior advocate Rajiv Dhawan, appearing for Sahara group, had told a bench of justices KS Radhakrishnan and JS Khehar.

Roy and the other two directors of the Group have been in judicial custody since March 4 for not abiding by the apex court's order for depositing Rs 20,000 crore of investors money with SEBI.

Dhawan had made his submission at the end of court's proceedings in a contempt case against a person who had thrown ink at Roy when he was brought to the apex court on March 4. The court had granted four weeks time to the alleged contemnor Manoj Sharma to file his response in the case in which it had taken suo motu cognisance.

The Supreme Court had on April 21 reserved its order on Roy's petition challenging its decision to send him to jail in the case relating to non-refund of investors money. It had also agreed to consider Sahara's proposal for paying Rs 10,000 crore for getting bail to its chief Subrata Roy and two directors who are in Tihar jail in judicial custody since March 4.

In its new proposal, Sahara group had assured the court that it will pay Rs 3,000 crore within three-four working days of Roy's release and another Rs 2,000 crore in cash by May 30.

It had also submitted that they would furnish a bank guarantee of another Rs 5,000 crore on or before June 20.

The apex court had imposed a condition that Roy will be freed on bail only if he pays Rs 10,000 crore out of which Rs 5,000 crore has to be in bank guarantee and rest Rs 5,000 crore in cash.

(With additional information from PTI)