The law finally caught up with Sahara group chief Subrata Roy on a day of fast developments in Lucknow. The Uttar Pradesh Police on Friday arrested Subrata Roy at 10.30 in the morning on the orders of the Supreme Court. But high drama followed as Roy summoned doctors to check him at his house where he was being kept by the police. Later, in the Chief Judicial Magistrates court, Roy sought to stay in Lucknow and argued against being moved to Delhi. But the court rejected his contention and remanded him in police custody till Tuesday. Roy is spending the night in a Forest Department Guest House in Kukrail near Lucknow. All this came after two days of high drama. On Thursday, the UP Police visited Subrata Roys home in Sahara City in Lucknow, but failed to locate him. On the same day, Roy moved the Supreme Court and tendered an unconditional apology for not presenting himself in the apex court. On Friday morning at 8:30 am, the Sahara Group announced an urgent press conference in Delhi. As soon as the Sahara group announced that it was holding an important press conference at the Lalit Hotel in Delhi, media teams rushed to the venue. The Delhi Police also reached there to look for Roy as it had information that the Sahara chief might be at the hotel himself. While the police watched developments in Delhi, UP Police finally arrested Subrata Roy at 10:30 am. After his lawyers informed the court, Roys son Seemanto Roy addressed the press meet in Delhi, appealing to investors and the media to understand their side of the story. My office, my colleagues, my family members are continuously getting calls, SMSes from media friends, relatives. They want to hear from me. All I want to say is that this is the best honour my country could give me, Seemanto said. Soon after the press meet, Seemanto Roy had to face several questions from the media. As he got ready to leave, he told that his father had never tried to evade the summons. Roys team did try its luck in the Supreme Court, which was turned down. Sources say that there is a likelihood that on Saturday, once again, the legal team will try to expedite the hearing as it does not want the Sahara chief to be behind bars for the next three days. But till that happens, Subrata Roy, one of the most powerful and well connected business tycoons, will have to spend the next few days in custody. But this is just one aspect of the case. The court is yet to give a final word on the Rs 19,000 crore dispute between his companies and Sebi. The case is set to be heard in the apex court on March 4.
Posted on: Sat, 01 Mar 2014 04:23:14 +0000
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