Roy was arrested on 28 February, 2014 on orders of the Supreme Court after he failed to appear before it in connection with the Rs 24,000 crore deposits his company had not refunded to investors.
The Supreme Court also directed Sahara chief to pay Rs 1,500 crore in SEBI-Sahara account on or before June 15.
The Bench ended its order with the direction that if the first of the two cheques was not encashed by June 19, the contemnor would straightway be sent to jail and the property would be sold.
The bench asked the official liquidator, attached with the Bombay High Court, to auction the Aamby Valley properties, estimated to be worth Rs 34,000 crore, and directly report to it. The court also warned that he may be sent to jail again if the amount is not paid.
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Swamy had filed an affidavit on behalf a foreign firm expressing his intent to buy Sahara's New York-based hotel. The bench also asked Subrata Roy to be present in the court on 19 June, the next date of hearing. Asking Roy to be present in the court today, the bench had said, "Now we are exhausted". The bench also cautioned Roy from playing with the court's order and said non-compliance of its order would invite the wrath of the law and ultimately he will be at his own peril. It has paid about 12,000 crores, while it has to pay Rs 11,169 crore to SEBI as per the directive of the Supreme Court.
Swamy had earlier told the court that US-based MG Holding was buying Sahara's Plaza Hotel, following which the court has asked him to deposit Rs 750 crore in Sahara-SEBI account to prove their bona fides.
It had on May 6, 2016 granted a four-week parole to Roy to attend the funeral of his mother. His parole has been extended by the court ever since. Roy would be sent to jail if the cheques are dishonoured. The Sahara group has submitted three cheques of Rs 1500 crore and the other two are of Rs 500 crore and Rs 3000 crore.
The court further chose to frame charges in the SEBI case against Roy and his three group firms' directors - Ravishankar Dubey, Ashok Roy Choudhary and Vandana Bhargava on May 18.
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