The Telegraph
Thursday , June 5 , 2014
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Terms for Roy relief

Roy: Tough time

New Delhi, June 4: The Supreme Court today dismissed Sahara chief Subrata Roy’s plea to be put under house arrest but allowed the group to sell its properties and pay Rs 10,000 crore to secure his bail.

A bench of justices T.S. Thakur and A.K. Sikri gave permission to Sahara to sell its immovable properties in nine cities, but clarified that they should not be sold below the market value and buyers should not be “connected or related” to the group.

“In order, however, to ensure that the sale value is fair and reasonable, we need to make it clear that no item of property shall be sold at a price lesser than the circle value of the properties fixed for the area where such a property is located,” the court said.

The apex court found no reason to modify its March 4 order sending Roy and two other directors to the Tihar jail until they deposited Rs 5,000-crore cash and Rs 5,000 crore as bank guarantee.

“It is not the case of the contemners (a person held in contempt of court) that they or anyone of them suffers from any medical condition that calls for hospitalisation or an atmosphere conducive for recovery from any disease.

“This court has already issued directions permitting visitation to those who need to visit the contemners in jail.

“That arrangement has not been found to be inadequate, at present, so as to call for any change,” Justice Thakur said.