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New Delhi, The Supreme Court on Monday granted a 15-day extension to Sahara chief Subrata Roy to use the office complex allotted to him inside the Tihar jail premises.
Roy is attempting to sell overseas assets such as Grosvenor House in London to raise about Rs 10,000 crore to pay back investors in two Sahara group firms.
The Supreme Court has made part repayment to investors a condition bail for Roy and two other company directors from jail, where they have been held for the past six months for failing to make a scheduled court appearance.
The apex court had on August 1 allowed Roy and two directors of his group to use the conference room in Tihar jail complex for 10 days from August 5 to hold negotiations with potential buyers. The time period was further extended for 15 days on August 14.
Last weelk, Roy told the court that he was the final stages of a deal to sell three luxury hotels in New York and London but had hit a roadblock had hit a roadblock and was on the verge of collapsing. To finalise the deal, he asked the court for an additonal 15-day use of the office to be able to sell the properties.
Roy is trying to sell the Dream Downtown and The Plaza hotels in New York and Grosvenor House in London.
