HC stays proceedings against Subrato Roy
Posted on: 06:39 PM IST Feb 08, 2011
New Delhi: The Delhi High Court today stayed the proceedings against Subrato Roy, Chairman of Sahara India Group, before a lower court which had issued a bailable warrant against him in a case of alleged cheating and forgery in a housing project launched by his company.
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.
Earlier, the court of Chief Metropolitan Magistrate had directed the Delhi Police to execute the warrant against Roy and others by February 9. The warrant was issued on a complaint filed by Neeraj Pandey who alleged the company has not started the housing project despite getting a payment of Rs one lakh in 2003.He has alleged the company launched the scheme Sahara Swarn Yojna for developing 217 townships all over the country including the NCR region.