Sahara supremo Subrata Roy was arrested on Saturday and will be in Uttar Pradesh police’s custody till March 4.

Meanwhile, the Supreme Court declined to hear a plea to recall the non-bailable warrant issued against Roy for failing to appear before the court in a case related to non-refund of crores of rupees to its investors. On Friday, Roy surrendered in Lucknow after issuing a two-page note declaring that he was not absconding and was ready to “unconditionally follow” the court’s direction.

His appeal to the Supreme Court to allow him “to be with his ailing mother under house arrest till March 3, 2014” was turned down. The group has also been defending its position saying it has handed over documents to SEBI.

In Delhi, Executive Director of Sahara India Pariwar, Seemanto Roy, said his father’s arrest would not impact the group’s business, which spans mass media, para-banking, and hospitality.

(This article was published on February 28, 2014)
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