National News

Relief for Sahara chief Subrata Roy as court scraps non-bailable warrant against him

The businessman managed to convince the bench that he would attend hearings in the case and also gave an undertaking.

Sahara chief Subrata Roy got some legal relief on Friday as the non-bailable warrant against him was scrapped after he appeared before a special Securities and Exchange Board Of India court. The bench dropped the warrant after Roy assured the court that he would attend all hearings in the case related to recovering the money his companies owe to investors.

The court made him give an undertaking that he will be present for the hearings when the court starts entertaining arguments about framing of charges in the case. The court will take up the matter next on May 18, reported The Indian Express.

The warrant was issued against Roy by the Supreme Court in February. It was issued after the businessman failed to appear before the court despite summons. Three directors of two of his companies – Sahara India Real Estate Corp Ltd and Sahara India Housing Investment Corp Ltd –
were also summoned by the court. Roy had requested an exemption from appearing in the court, but the bench had rejected it, citing “rule of law”.

On February 6, the top court had also ordered attachment of Sahara’s Aamby Valley property to recover dues from the company. On April 17, the apex court ordered the auction of the property in Maharashtra after owner Sahara India Pariwar had failed to deposit money to refund its investors.

The court had extended Sahara chief Subrata Roy’s parole in February after a sum of Rs 600 crore was deposited with Sebi. The company had acknowledged that it owed Rs 14,000 crore as principal money to Sebi, but the top court had denied its offer to clear its dues by July 2019.

The Sahara group has been embroiled in a lengthy court battle with the market regulator over a case involving a Rs 24,000-crore refund to investors. The court said that it will focus on repayment of the principal amount before ensuring that the group repays the interest.

We welcome your comments at letters@scroll.in.
Sponsored Content BY 

Bringing your parents into the digital fold can be a rewarding experience

Contrary to popular sentiment, being the tech support for your parents might be a great use of your time and theirs.

If you look up ‘Parents vs technology’, you’ll be showered with a barrage of hilariously adorable and relatable memes. Half the hilarity of these memes sprouts from their familiarity as most of us have found ourselves in similar troubleshooting situations. Helping a parent understand and operate technology can be trying. However, as you sit, exasperated, deleting the gazillion empty folders that your mum has accidentally made, you might be losing out on an opportunity to enrich her life.

After the advent of technology in our everyday personal and work lives, parents have tried to embrace the brand-new ways to work and communicate with a bit of help from us, the digital natives. And while they successfully send Whatsapp messages and make video calls, a tremendous amount of unfulfilled potential has fallen through the presumptuous gap that lies between their ambition and our understanding of their technological needs.

When Priyanka Gothi’s mother retired after 35 years of being a teacher, Priyanka decided to create a first of its kind marketplace that would leverage the experience and potential of retirees by providing them with flexible job opportunities. Her Hong Kong based novel venture, Retired, Not Out is reimagining retirement by creating a channel through which the senior generation can continue to contribute to the society.

Our belief is that tech is highly learnable. And learning doesn’t stop when you graduate from school. That is why we have designed specific programmes for seniors to embrace technology to aid their personal and professional goals.

— Priyanka Gothi, Founder & CEO, Retired Not Out

Ideas like Retired Not Out promote inclusiveness and help instil confidence in a generation that has not grown up with technology. A positive change in our parent’s lives can be created if we flip the perspective on the time spent helping them operate a laptop and view it as an exercise in empowerment. For instance, by becoming proficient in Microsoft Excel, a senior with 25 years of experience in finance, could continue to work part time as a Finance Manager. Similarly, parents can run consultation blogs or augment their hobbies and continue to lead a fulfilling and meaningful life.

Advocating the same message, Lenovo’s new web-film captures the void that retirement creates in a person’s life, one that can be filled by, as Lenovo puts it, gifting them a future.

Play

Depending on the role technology plays, it can either leave the senior generation behind or it can enable them to lead an ambitious and productive life. This festive season, give this a thought as you spend time with family.

To make one of Lenovo’s laptops a part of the family, see here.

This article was produced on behalf of Lenovo by the Scroll.in marketing team and not by the Scroll.in editorial staff.