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India top court delays decision on jailed Sahara chief
May 14, 2015 / 10:52 AM / 3 years ago

India top court delays decision on jailed Sahara chief

NEW DELHI, May 14 (Reuters) - India’s Supreme Court on Thursday deferred a decision on conglomerate Sahara’s bid for bail for its jailed boss in a long-running dispute over illegal bonds.

It gave no date for a decision.

Subrata Roy has been held in jail for more than a year, after Sahara failed to comply with a court order to refund money it had raised from millions of small investors by selling bonds that were later ruled to be illegal.

A lawyer for the group said last week Sahara had agreed to pay the full $1.6 billion the court had asked for to release Roy on bail, but the group has yet to publicly outline that plan. (Reporting by Aditi Shah and Suchitra Mohanty; Editing by Clara Ferreira Marques)

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