A day after Sahara group lawyers told the Supreme Court that it was “virtually impossible” to deposit ₹10,000 crore as bail surety for group head Subrata Roy, the Employees Society of the Group has issued an appeal to all staff members seeking contributions of ₹1 lakh and over to secure his release.

Roy has been in jail since March 4 for not appearing in a contempt case.

The letter, dated March 28, requests employees to contribute generously in order to face “adverse and challenging” times. Issued on behalf of the board of directors of Saharian E-Multipurpose Society Ltd and all employees, the letter introduces the society as a medium to run various “highly profitable” schemes for employees, well wishers and associates. The effort is to collect ₹5,000 crore and all contributors will be allotted society shares, it says.

The group has over 12 lakh employees.

The letter noted that the Supreme Court had banned asset sales and that many bank accounts had been frozen. “Even if these restrictions are removed and we sell movable or immovable assets… we will not get appropriate price,” it says.

A Sahara official clarified that the letter was not an ‘instruction’, and was not from the Chairman or management.

(This article was published on March 28, 2014)
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