Subrata Roy wants bail immediately to perform the last rites of his aunt, who died today morning (October 02, 2014). His aunt lived with him and has no children, so it is essential for the billionaire to attend her cremation.
Subrata Roy’s lawyers are seeking an urgent hearing from the Supreme Court to place his request. Subrata Roy is back in a jail cell after living in a makeshift office in Tihar jail for two months while working on the sale of three luxury hotels in New York and London to raise Rs 10,000 crore for his bail. However, the deal has still not come through.
The Supreme Court had allowed Subrata Roy to use an office, phone, Internet connection and three secretaries in the Delhi prison to facilitate the sale of three hotels, including Grosvenor House in London and The Plaza in New York.
He has been moved back to his cell after the Supreme Court’s deadline for the use of the office expired, although the businessman had requested more time, Tihar Jail spokesman Mukesh Prasad said.
According to Subrata Roy’s lawyers, the total number of working days that he got was around thirty five till the September 30, 2014 deadline for the sale of the hotels.
After a deal which was covering all Sahara’s requirements was finalised, unfortunately, there were protests and agitations in New York against the sale of the hotel to the particular prospective buyer.
The lawyers claim that due to these incidents the deal was postponed, leaving only fifteen days for Subrata to get fresh offers from new parties and financial institutions overseas.
American real estate investor Madison Capital has tabled an $800 million bid for Subrata Roy’s US hotels – The Plaza Hotel and Dreams Downtown Hotel.
An investment arm of the Qatari Royal Family and an Indian pharma billionaire, Cyrus Poonawalla, have offered to buy the British property, which is located in the Mayfair area and managed by JW Marriottt.
According to sources, the concerned people are confused and sceptical of doing any financial transactions with Sahara.
Subrata Roy has been in jail since March 04, 2014 after two group companies – Sahara Housing and Sahara Real Estate failed to comply with the apex court’s order to all the money the Sahara Group word to its thirty million investors.
Subrata Roy wants bail immediately to perform the last rites of his aunt, who died today morning (October 02, 2014). His aunt lived with him and has n...1.0