“With the incarceration, things have gone worse. People expect nothing in return from a man inside jail. We can the best solution of the problem only if he comes out. Nobody is going to help us if I remain in jail,” Jethmalani said adding “Bail is my right and Don't make things difficult for me”.
The bench, however, refused to grant relief saying that it had given Roy enough time for the last one and half years and asked SEBI's counsel to argue on the maintainability of petition.
Agreeing to hear Roy's petition, the bench said “We have corrected our order many times even in disposed of matters but we wonder whether it can be done on a writ petition.
While opposing Roy's plea against his detention, SEBI submitted that his petition is not maintainable and the incarceration order is valid and legal.
“What other order could be passed if the man behaves like this. The order is fully justified and it (passing such order) is a tool to force obedience of court's order,” senior advocate Arvind Datar submitted.
He submitted that a person can be detained for six months by IT department in case of default of Rs 250 and in this case the amount is Rs 25,000 crore.
Senior advocate Rajeev Dhawan, appearing for the group, said that there is “substantive and procedural” mistake in the March 4 order by which Roy was sent to jail.
He said that there was a grave error on the part of the bench in passing such an order in which the bail bond was virtually fixed at Rs 22,500 crore.
