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Supreme Court issues arrest warrant against Sahara chief Subrata Roy

shriram | 26th February 2014 | Law And Justice
Supreme Court issues arrest warrant against Sahara chief Subrata Roy

    The Supreme Court issued a non-bailable warrant against Sahara chief Subrata Roy and ordered his arrest for defying its summons in connection with involving his alleged failure to refund investors' money, which was taken up by market regulator SEBI. Senior advocate representing Mr Roy, told Mr Roy's mother is ill and he has to be with his mother.
Mr Roy and three other Sahara directors had been summoned over the non-refund of Rs. 19,000 crore by two Sahara companies to millions of investors. Securities and Exchange Board of India (Sebi) said the funds were raised illegally and the Supreme Court in August 2012 had ordered Sahara to refund the money raised from investors with interest.


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