NEW DELHI: India’s market regulator has petitioned the Supreme Court to direct tycoon Subrata Roy to immediately pay 626 billion rupees ($8.4 billion) meant for poor investors immediately, or cancel his parole.
The Securities and Exchange Board of India said the outstanding liability of the Sahara India Parivar group’s two companies and the conglomerate’s chief Roy stand at 626 billion rupees, including interest, according to court filings seen by Bloomberg. Roy’s liabilities have ballooned from 257 billion rupees he was ordered to pay eight years ago.
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