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The Supreme Court on Friday set fresh terms for releasing troubled conglomerate Sahara's founder Subrata Roy, jailed for more than a year in a long-running dispute over issuance of illegal bonds.
The court said Sahara, which has assets ranging from a Formula One team to TV channels, will have to pay Rs 3,000 crore ($470.59 million) in nine installments after Roy's release from jail.
Roy will also have to submit his passport to the court after his release on bail, the court said.
Roy was arrested in March last year after the company failed to comply with a court order to refund money it had raised from millions of small investors by selling them bonds later ruled to be illegal.
The court on Friday said Sahara owes as much as Rs 36,000 crore ($5.7 billion) to the bond investors. Sahara previously said it had repaid 95% of the amount due to the investors.
($1 = 63.7500 rupees)
