NEW DELHI (Reuters) - The head of Sahara conglomerate will remain in custody until further orders from the Supreme Court, three lawyers involved in the matter said on Tuesday, after a hearing in a case over the refund of money to investors in an outlawed bond scheme.
Subrata Roy was arrested on Friday after failing to appear at a Supreme Court hearing related to a multi-billion-dollar Sahara investment scheme that was later ruled to be illegal.
The Supreme Court has asked Sahara to come up with a concrete plan to refund investors, said the lawyers, who declined to be named ahead of the official court order. The court did not immediately say when it will next hear the case, they said.
(Reporting by Suchitra Mohanty; Editing by Tony Munroe)
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