The Madhya Pradesh High Court issued a bailable warrant for Sahara chairman Subrata Roy and asked the SP Lucknow to carry it out.
According to Ankit Mishra of the Madhya Pradesh High Court, “Twenty applications have been filed against Sahara Chief Subrata Roy. A bailable warrant of Rs 5 lakh was issued by the Madhya Pradesh High Court against him.”
Subrata Roy has been in deep seas when the business failed to refund Rs 85,000 crore to its investors by August 31, 2012, as required by the court.
Roy, who is out on temporary release, has already spent two years in jail on the subject, while the Sahara group has yet to repay the investors Rs 9,000 crore.
Earlier, the Securities and Exchange Board of India (SEBI) filed a case with the Supreme Court, seeking contempt proceedings against the Sahara group for blocking the auctioning process, which had been ordered by the court.
