Supreme Court rejects Subrata Roy’s plea seeking more time to pay Rs 600 crore to Sebi

The Supreme Court on Thursday rejected Sahara chief Subrata Roy's plea seeking more time to pay Rs 600 crore to the capital markets regulator Sebi.

Subrata Roy is out on parole since his mother’s death in May. He had sought more time for payment citing demonetisation and economic slowdown.

In November, the apex court had asked Roy to deposit Rs 600 crore and had given a deadline of February 6 for the same. The court had also warned that if Roy fails to pay the money, he would have to surrender.

"This court had given so much indulgence to you and spent so many man hours in your case and the controversy started in 2012 and we had given so many chances and we are in 2017. You have still time to deposit," the Supreme Court told Kapil Sibal, who is Sahara's lawyer.

However, the apex court allowed Sahara to transfer Rs 280 crore lying in its London account to Sebi.