The bench of justices K S Radhakrishnan and J S Khehar in its May 6 judgment had upheld its order jailing Subrata Roy and rejected his claim that rules of natural justice were not followed in the case.
65-year-old Roy, who has been in jail since March 4 for non-refund of over Rs 20,000 crore to depositors, was asked by the court to make a fresh proposal for paying Rs 10,000 crore to get bail.
The court had passed the order on a petition filed by Roy challenging constitutional validity of its order passed on March 4 by which he was sent to jail for not complying with its order to deposit around Rs 20,000 crore of investors money with Sebi.
The bench in a strongly-worded judgment had come down heavily on the Group for "systematically" frustrating and flouting all its orders with impunity on refunding investors' money.
It had said the Group "adopted a demeanour of defiance constituting a rebellious behaviour, not amenable to the rule of law" and justified its decision to send Roy along with two promoters of two Sahara companies to jail.
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