Sahara chief Subrata Roy on Tuesday assured the Supreme Court that its order will be followed by him and sought more time for refunding money to investors.
Subrata Roy said that Sahara will sell its assets to pay up the Rs 22,500 crore it owes investors. The sale of properties can start from tomorrow onwards.
Personally arguing his case, Subrata Roy said that while the sale of of assets is on, the company will try to give bank guarantee for rest of the amount which is due to investors.
Subrata Roy added that he wanted one more chance to honour the court order and said that if he failed in this last endeavour, he would come back to stand before the court and accept punishment.
Reacting to this, the SC bench asked why payments were not done for the last one-and-a-half years and why Sahara was giving one excuse after the other.
The Supreme Court said that sale of assets of Sahara group is the responsibility of the company and the apex court would have no role to play except strictly ensuring compliance of its orders.
