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Subrata RoyThe Supreme Court today reserved its order on interim bail plea of Sahara Chief Subrata Roy who pleaded to the court to show ‘raham'(mercy) and allow him to come out of jail to sell off his properties to deposit Rs 10,000 crore with SEBI as directed to get regular bail.

“Raham is what is required now in this case. Today he has spend more months behind bars and his release would enhance chances of negotiation for sale of properties,” senior advocate Rajiv Dhawan, appearing for Roy who has been in jail for over four months, submitted before a bench headed by Justice T S Thakur.

In more trouble for the Sahara group, the bench, in the meanwhile, asked the Income Tax Department to file an affidavit stating what action it has taken and what it is planning to take against the group after the department claimed that the company owed Rs 7,000 crore tax to it.

The bench granted two weeks time to file the affidavit. “Permission granted to file additional affidavit within two weeks to give details of IT assessment made against two companies, action so far taken and proposed to be taken,” the bench said asking the Department to also give details of any pending case against the group in this regard.

“Do not take easy route to say that you are here to assist the court. You need to draw strategy for taking action. You do not need our permission. You must exercise the power given to you. You have independent power so why are you not taking action. You must come out of inaction,” the bench said when the Department submitted that it wants to assist the court in the ongoing proceedings.

(Source: PTI)

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