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Sahara Chief Subrata Roy Arrested in Lucknow

2/28/2014

 
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LUCKNOW/NEW DELHI  ­ Sahara  Chief  Subrata  Roy was arrested  in Uttar  Pradesh  Lucknow Feb. 28 after he evaded for two days a non­bailable warrant issued by the Supreme Court for his failure to appear before it in a case of non­refund of Rs 20,000 crore to investors. Capping a day of dramatic developments, 65­year old Roy surrendered before police after calling them to Sahara Shaher.

"Roy has been arrested and will be produced in court later today," SP Trans­Gomti Habibul Hasan said. Senior  advocate  Ram  Jethmalani  told  a  Supreme  Court  bench  headed  by  Justice  K  S Radhakrishnan that Roy is in police custody in Lucknow and pleaded for recall of NBW issued on February 26. He submitted that the special bench, which is hearing the  case,  should take up the application today  itself. But,  his  plea  was  turned  down  as  the  judge  said  it  is  not  possible  for  the  special bench to assemble Feb. 28.
The  day  started  with  Subrata  Roy  issuing  a  signed  two­page  statement,  claiming  he  was  not absconding and was ready to "unconditionally follow" Supreme Court's direction. Minutes after his arrest in Lucknow, son Seemanto addressed a hurriedly called press conference in Delhi and  said  his  father  was  cooperating  with  the  authorities  and  he  had wilfully  submitted before the police. Seemanto also said that arrest would not impact the business of the group, which claims to have a networth of over Rs 68,000 crore with lakhs of employees.  Roy tried to explain his non­appearance before the apex court on the ground that he had gone out of Sahara Shaher to consult a panel of doctors and also to meet a lawyer.
The police had gone to his home Feb. 27 to arrest him but failed to find him there. Roy also appealed to the Supreme Court to allow him to be with his 92­year­old "ailing mother under house arrest till March 3, 2014". Issuing a non­bailable warrant against Roy, the Supreme Court on February 26 had asked the police to arrest him and present before the court on March 4.
Moving  the  apex  court  Feb.  27,  Roy  had  admitted  that  he  had "erred"  by  his  non­appearance under a bonafide belief that the court will permit him exemption from personal appearance for one day. "A lot of people advised me to get admitted in some hospital and I can remain there as it is the general practice to avoid courts on medical grounds. However, I hate to do such drama," he said. Subrata  Roy's  son Seemanto,  who  along  with  his  brother Sushanto  holds  key  positions  in the group, however maintained that the arrest of his father would not impact the business empire. (PTI)

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