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Supreme Court orders sale of Sahara’s Aamby Valley

New Delhi, April 17 : Angry over his failure to deposit Rs 5,092 crore as ordered by it in February last, the Supreme Court on Monday ordered Sahara chief Subrata Roy to appear before it on April 27 and threatened to cancel his parole.
“We are all tired…This man must be on his toes. We will deal with this man (Roy) and his property under Article 142 (SC’s power of contempt),” a bench headed by Justice Dipak Misra said.It appointed Bombay High Court official liquidator to complete process of sale of Aamby Valley in Maharashtra — estimated to be Rs. 39,000 — realise money towards refund of investors’ money and file a report in 10 days.
“I think enough is enough… You can’t say something today and resile tomorrow,” Justice Misra told senior counsel Salman Khurshid, who represented Roy during the hearing. The top court had sent Subrata Roy to Tihar Jail in March 2014 after he failed to appear in response to its summons over non-payment of investors’ money. Roy has been on parole since May last year after being released for performing his mother’s last rites.It also imposed a fine of Rs 10 crore on Prakash Swami — the representative of a real estate company that had offered to buy its Plaza hotel in New York but failed to deposit RS 750 crore as directed by top court.

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