“It is not correct to say that Rs 10,000 crore is a bail bond. It is not that. It is the principal amount to be paid by the company and it would show bona fide on the group for release,” it said.
In the meanwhile, Sahara Group expressed its inability before the Supreme Court to immediately pay Rs 10,000 crore for securing bail of its chief Subrata Roy and its two directors, who have been in jail since March 4.
The group told the bench that it can pay Rs 2,500 crore immediately and rest Rs 2,500 crore in cash within three weeks after release of Roy and two directors, Ravi Shankar Dubey and Ashok Roy Choudhary.
The case has been posted for further hearing on April 9.
The apex court had earlier imposed a condition that Roy will be freed on bail only if he pays Rs 10,000 crore out of which Rs 5,000 crore has to be in bank guarantee and rest Rs 5,000 crore in cash.
Updated on: April 03, 2014 21:39 IST
