“On compliance, the contemnors be released forthwith and the amount deposited be released to SEBI,” the bench said.
The bench, however, said that it agreed to grant interim bail only to facilitate Roy to raise the money which is to be deposited with SEBI.
“We make it clear that this order is passed in order to facilitate the contemnors to further raise the balance amount so as to comply with the Court's orders mentioned above,” it said.
Sahara counsel then pleaded with the court to defreeze the bank accounts to raise the money which was accepted by the bench.
The court asked the group to give details of the bank accounts tomorrow and then they will pass the order.
It also noted in its order that fresh proposal filed by the group was not in compliance with its earlier order and asked the SEBI to file its response.
SEBI opposed the proposal saying it was not workable.
The group, in its proposal, assured the apex court that it will deposit Rs 2,500 crore within three working days and pay three installments of Rs 3,500 cr each at the end of June.
September, December and the remaining Rs 7,000 crore by March 31, 2015.
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