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Sahara chief surrenders, arrested
| 01 March, 2014

Lucknow/New Delhi,
28 February
Cornered and left with no option, Sahara chief Subroto Roy surrendered today to Lucknow police which arrested him while executing a non-bailable warrant issued against him for his failure to appear before the Supreme Court.
On a day of dramatic developments topped by suspense and mystery, the 65-year-old chief of the Sahara group was taken to the court of Chief Judicial Magistrate Anand Kumar Yadav, who rejected his request to be allowed to be under house arrest and remanded him in police custody.
Interestingly, for more than six hours Roy remained in his home after the arrest till the police took him in a convoy of high-end cars to the CJM's court, which sat specially on a holiday on account of Shivratri.
But it was not clear as to where the police would keep him till it produces him in the Supreme Court and a lawyer said it was left to the discretion of the police.
The CJM directed that it was the police's responsibility to produce Roy before the Supreme Court by the deadline of 2 p.m. on 4 March for alleged contempt for non-appearance on Thursday in a case of non-refund of over Rs.20,000 crore to investors.
The two-day cat-and-mouse game ended this morning when Roy, who police failed to find at his residence in “Sahara City” in the posh Gomti Nagar area during a raid yesterday, issued a statement and called police to his home.'
A battery of lawyers also failed to get Roy any relief after the Supreme Court today refused to take up his application for recall of the NBW. A last-ditch effort was made before the court before lunch break but the court refused to entertain any plea. Moving the apex court a day after it issued the NBW, Roy admitted that he had “erred” by his non-appearance under a bonafide belief that the court will permit him personal exemption from appearance for one day. Besides seeking recall of the NBW, Roy had sought a stay of the operation of its order during pendency of his plea.
The order to arrest Roy was issued after his failure to appear before the apex court in the contempt case arising out of non-refund of Rs 20,000 crore to investors by two of his companies.
Roy had sought exemption from personal appearance on the ground of ill-health of his 92-year-old mother.

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