SC sends Sahara chief Subrata Roy, two directors to jail
The Supreme Court Tuesday sent Sahara chief Subrata Roy and two of his directors to police custody till they presented the court an acceptable concrete proposal to return investors’ balance of Rs.19,000 crore that they had collected through optionally fully-convertible debentures.
The raising of funds through optionally fully-convertible debentures was done by two companies — Sahara India Real Estate Corp. Ltd. and Sahara Housing Investment Corp Ltd.