New Delhi: The Securities and Exchange Board of India (SEBI) on Friday asked the Supreme Court to direct Sahara owner Subrata Roy to cough up ₹ 62,600 crore immediately, else his parole will be cancelled.
Sahara has an outstanding liability of ₹ 62,600 crore, including interest, according to Bloomberg.
The apex court in 2012 had ruled that Sahara violated securities laws and raised over $3.5 billion illegally in cash from millions of Indians who couldn’t get banking services. SEBI was not able to trace the investors and send Roy to jail.
Roy’s story was recently documented in Netflix’s documentary Bad Boy Billionaires.