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Subrata Roy skips SEBI court trial on medical grounds

ANI  |  New Delhi [India] 

Sahara chief Subrata Roy on Thursday did not appear before the Securities and Exchange Board of (SEBI) after filing an exemption application on medical grounds.

However, the special rejected Roy's plea.

The was to frame charges in the case against Roy and his three group firms' directors - Ravishankar Dubey, Ashok Roy Choudhary and Vandana Bhargava

On April 21, a had cancelled the non-bailable arrest warrants against Roy and three of his group firms' directors after they appeared before it in a case filed by the against them.

The cancelled the NBWs against them after they furnished fresh bail bonds of Rs. 2 lakh each and gave undertakings to the that they would attend its trial proceeding against them regularly.

The had registered a case against Sahara Real Estate Corporation, Sahara Housing Investment, their promoter Subrata Roy and the three directors in 2012, alleging that these companies had collected a huge sum of money from investors without listing the securities on the stock exchanges.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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