Subrata Roy gets relief in fraud case

February 8th, 2011 - 9:23 pm ICT by IANS  

New Delhi, Feb 8 (IANS) The Delhi High Court Tuesday stayed the proceedings against Sahara India group’s chairman Subrata Roy and four other officials in a Delhi court on a complaint that they duped investors in a proposed housing project.Justice Ajit Bharihoke said: “The proceedings and the execution of the warrants against Roy and four other company officials would remain stayed till May 10, the next date of hearing.”

A Delhi court last month issued a bailable warrant against Roy and the four officials on a complaint that they duped investors in the project of Rs.25,000 crore, holding that there was enough prima facie material to proceed against them.

A statement issued by the Sahara India group, however, said the “entire complaint is based on false and frivolous allegations”.

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