Sahara Group's chief Subrata Roy has been sent to police remand till March 4 by a chief judicial magistrate in Lucknow. Roy has been kept under arrest at forest department guest house in Kukrain, 9 km away from UP's capital city.
Yesterday Roy was arrested for not
following a Supreme Court warrant, which was issued against him for
not appearing in a case which was linked to his alleged failure to
return over 24,000 crores to the the investors as alleged by market
has repeatedly cited his mother's illness as the reason for not
appearing before the Supreme Court. In his application to the apex
court he told, ?The very idea of not being able to see my mother
alive again made me extremely sad and restless. Faced with such an
extraordinary circumstance, I left for Lucknow to be with my mother.?
according to some media reports, her mother was never been admitted
in the Sahara hospital and was being treated at home. However, Sahara
chief in his affidavit had said that she was in hospital. Now this
thing can also go against him when he will be appearing in supreme
Court on March 4.
tried every stratagem to get out of this mess, like filing multiple
legal proceedings in the Allahabad High Court and the Supreme Court.
It even sent some truck loads of documents to SEBI office in Mumbai.
But at the end, SEBI's determination and the strong stand of the
Supreme Court, made it very tough for the Sahara Chief.