SC grants four weeks parole to Sahara group chief

New Delhi: The Supreme Court on Friday granted a four week parole to incarcerated Sahara Group chief Subroto Roy to attend the last rites of his mother who passed away on Thursday night.

An apex court bench headed by Chief Justice T.S. Thakur, while granting parole, said that Roy will remain under the protection of policemen in plainclothes during the parole period.

The court also granted parole to Roy's son-in-law, Ashok Roy Choudhary, for the same period.

Roy is in jail for more than two years for his failure to comply with the top court's orders to return investors' money that his two companies of the Sahara Group -- Sahara India real estate corporation and Sahara Housing Investment Corporation Ltd. --- collected through OFCDs (Optionally Fully Convertible Debentures) in 2008 and 2009.