New Delhi: The Supreme Court on Wednesday appointed FS Nariman as amicus curiae in the Sahara case and rejected its chief Subrata Roy's plea to put him under house arrest.
Roy had sought modification of an earlier SC order asking him to pay Rs 5,000 crore in cash besides a bank guarantee of an equivalent amount for securing his release. The apex court permitted Sahara to sell its immovable properties situated in nine Indian cities.
Dismissing Roy's plea seeking modification of conditions for his release, SC refered the matter for further hearing before a larger bench of three judges to be constituted by the Chief Justice.
Earlier, the bench had asked the Sahara chief, who is in Delhi's Tihar jail since March 4, to pay Rs 5,000 crore in cash and furnish a bank guarantee of Rs 5,000 crore as pre-condition for his release. Senior advocate Rajiv Dhawan, appearing for Roy, had said that the Sahara chief is the main decision maker and it will be quite "improbable" to strike a deal for arranging the money and hence, he can be put under house arrest outside a jail at his expense.
The counsel for SEBI, however, had opposed the plea saying this prayer has been declined several times in the past. 65-year-old Roy, who was sent to jail for non-refund of over Rs 20,000 crore to depositors, was asked by the court to make a fresh proposal for paying Rs 10,000 crore to get bail.
(With inputs from PTI)
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