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Supreme Court again denies bail to Subrata Roy

by IBNS 22 Jul 2014, 12:36 am

New Delhi, July 22 (IBNS): The Supreme Court on Tuesday again denied a bail plea by Sahara group's chief Subrata Roy, now lodged in Tihar Jail since March.

Roy asked for his bail for at least 40 days so that he can go out and raise money for bail.

The apex court said if he is serious about raising the money and by selling off his house in London, he should rather give a concrete plan, said reports.

The court said it would facilitate negotiations with buyers during day time.

Roy said he want to sell off three overseas hotels to raise the fund of Rs 10,000 crore for his bail.  

The Supreme Court earlier had defreezed the group's bank accounts besides allowing it to sell nine properties in the country.

Roy is in Tihar Jail after his arrest for allegedly defrauding investors of over Rs 200 billion.