Sahara chief Subrata Roy filed an application before the special judge of the Securities and Exchange Board of India (SEBI) seeking that the bailable warrant issued against him be kept at abeyance till the trial commences in the case.
On September 6, special judge VS Gaike had issued a bailable warrant of Rs 25,000 against Roy. However, on request from Roy’s advocates, Harshad Ponda and Ashok Sarogi, the court kept the warrant at abeyance for a week till September 13 to allow them to challenge it before the higher court.
However, instead of approaching the higher court, Roy sought further exemption from the special court itself.
Saraogi prayed that Roy has sought exemption till the trial commences on medical grounds and said that the Sahara chief is willing to give an undertaking that he will personally remain present at the time of recording of evidence.
The special judge will pass the order in Roy’s plea on Thursday, September 15. The special court had issued the warrant against Roy while hearing a case filed by the SEBI against Sahara Housing Investment Corporation Ltd (SHICL), Sahara India Real Estate Ltd. (SIRECL) and others registered in 2014.
The Sahara Chairman, who is one of the accused in both cases, was supposed to appear before the court. However, his advocates filed an application seeking exemption “on the ground of his medical condition after the Covid-19 infection.”
SEBI counsels Ayush Pasbola and Omprakash Jha had opposed the plea saying that Roy had given an undertaking that he would “remain present in the court after the disposal of the discharge application.” They further pointed out that he had last remained present before the court in 2019.
EC bans inactive and non-existing 339 regional political parties after IT raids