Supreme Court to resume Subrata Roy hearing on Wednesday

NEW DELHI Tue Mar 25, 2014 5:55pm IST

The Sahara group chairman Subrata Roy (C) arrives at the Supreme Court in New Delhi March 4, 2014. REUTERS/Anindito Mukherjee/Files

The Sahara group chairman Subrata Roy (C) arrives at the Supreme Court in New Delhi March 4, 2014.

Credit: Reuters/Anindito Mukherjee/Files

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NEW DELHI (Reuters) - The Supreme Court will resume hearing on Wednesday a petition filed by the head of the Sahara group seeking his release from custody.

Sahara Chairman Subrata Roy, 65, was arrested on February 28 after failing to appear at a contempt hearing in a long-running legal battle between the group and Securities and Exchange Board of India (SEBI) over refund of billions of dollars to investors in outlawed bonds.

He has been held in a Delhi jail since March 4.

(Also read, Investors fear for their deposits after Sahara chief's arrest click here)

(Reporting by Suchitra Mohanty; Writing by Devidutta Tripathy; editing by Malini Menon)

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