ALSO READSahara proposes to pay over Rs 11,000 crore to ensure 'absolute' release of Subrata Roy Sebi Vs Sahara: This saga enters another chapter Pay up or go back to jail: SC rejects Subrata Roy's parole extension plea Supreme Court extends Sahara chief Subrata Roy's parole till April 17 Supreme Court orders Aamby Valley auction, summons Subrata Roy
The warrant was also quashed on grounds that Roy will appear in all hearings now as the court asked him to submit an undertaking for the same.
The next hearing in this matter will take place on May 18 when the argument on framing of charges will begin.
The Supreme Court on April 17 ordered the auction of Sahara's Aamby Valley over the business conglomerate's alleged failure to deposit money for refunding to its investors.
Taking strong note of non- submission of over Rs 5,000 crore by the Sahara group, the apex court bench warned Roy from further toying with the court's order, and issued an ultimatum that non-compliance of its order will leave Roy in massive trouble.
On March 21, the apex court had warned Sahara, saying it would auction Aamby Valley project if the latter fails to deposit the amount of Rs. 5000 crore (approx.)
The apex court had in its last hearing asked the Ghaziabad Development Authority to deposit Rs. 1,100 crore to the apex court registry for acquiring land from Sahara.
Roy was sent to the Tihar Jail on March 4, 2014 for not complying with the apex court's orders in connection with a long dispute with the market regulator SEBI.
SEBI alleged that Roy failed to comply with the apex court's order directing him to return the investors' money.
Sahara, once among India's high-profile firms, has in the past made several failed attempts to raise the bail money using its prized overseas hotels that include the Plaza in New York and Grosvenor House in London.