Protester threw ink on Mr Roy’s face as he arrived at the court. “Subrata Roy is a thief.

India’s Supreme Court has ordered the
continuing detention of businessman Subrata Roy and asked his firm to come up
with a plan to repay its investors.
The Sahara chief was arrested on Friday after he failed to
appear before the judges in connection with a fraud case.
Two Sahara firms were ordered to repay 240bn rupees ($3.9bn;
£2.3bn) to investors that market regulators said they had raised illegally.
On Tuesday, a protester threw ink on Mr Roy’s face as he arrived
at the court.
“Subrata Roy is a thief. He has cheated and robbed
us,” his attacker shouted. The man, identified as a lawyer by Indian
television channels, was taken away by the police.
Who is Subrata Roy?
  • Chairman of Sahara, an $11bn
    business group
  • Business empire spans finance,
    housing, manufacturing, aviation and media
  • Owns New York’s Plaza Hotel and
    London’s Grosvenor House
  • Employs 1.1 million workers,
    India’s biggest private employer
  • Sponsors India hockey team,
    owns a stake in F1 racing team Force India
  • Owns a fleet of private jets,
    helicopters, Rolls-Royces, Bentleys and BMWs
  • Profile: Subrata Roy
It was not immediately clear whether the
businessman would now be sent to jail. Since his arrest, he has been
 lodged in government guest houses.
The Supreme Court set the next hearing for 11 March.
‘Not interested’
On Tuesday, Mr Roy apologised to the court saying his reasons
for not appearing before the judges last Wednesday “were genuine”.
He said Sahara would sell its assets and pay back the investors
and asked the judges to give him more time.
But the court rejected his proposal saying “we are not
interested in selling the properties, you have been telling us for the last two
years, it is your headache, you should have done it”.
The judges also ordered police to take two other Sahara
directors into custody and hold them until the next hearing.
The case against Mr Roy stretches back to August 2012, when the
court ordered the two Sahara firms implicated to refund money to 22 million
small investors within 90 days and with 15% interest.
In December 2012, the court gave the firms more time to repay.
In February last year, market regulators froze the firms’ bank
accounts saying they had failed to refund the money.

2 comments on Protester threw ink on Mr Roy’s face as he arrived at the court. “Subrata Roy is a thief.

  1. On Tuesday, a protester threw ink on Mr Roy's face as he arrived at the court.
    "Subrata Roy is a thief. He has cheated and robbed us," his attacker shouted. The man, identified as a lawyer by Indian television channels, was taken away by the police.But the court rejected his proposal saying "we are not interested in selling the properties, you have been telling us for the last two years, it is your headache, you should have done it".This is obligatory duty of court to safeguard the rights of people of country.

  2. Whether it is justifying that Sahara Group may not refund the deposited amount of its shareholders and others who have invested its hard earned money in various luring schemes launched by the group. Here in the interest of justice ,all the money invested must be refunded . We want justice and this is duty of government to be instrumental in the process of refunding .

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