The Supreme Court on Thursday told Sahara chief Subrata Roy that he will have to return to jail if he does not deposit Rs 2,550 crores by July 15.
The Sahara chief, who was present in court and told judges that he would furnish two cheques for the same amount.
In response, the judges said, “We are warning you - if the cheques are not realized, we will send you to Tihar Jail directly from court.”
Subrata Roy also promised in SC to deposit Rs 1,500 crore in SEBI-Sahara account on or before June 15. He furnished a post-dated cheque of Rs 552 crore to be realised by July 15.
The Supreme Court subsequently extended the Sahara chief’s parole till June 19, and directed him to be present in court on that date.
However, the apex court rejected a request by Roy’s lawyer Kapil Sibal to reconsider the auction of Sahara’s lavish Aamby Valley near Lonavala. It is estimated to be worth Rs 34,000 crore.
The Supreme Court is trying to recover Rs 24,000 crore from Sahara that were collected through a savings deposit scheme which was declared illegal by market regulator SEBI.
The conglomerate has so far paid Rs 12,000 crore, and has missed several deadlines to pay the balance. The apex court has repeatedly told Sahara to deposit Rs 5,000 crore urgently, of which Rs 2,550 crore must now be paid by June 15, said the report.