SC extends Subrata Roy's release till July 11

The Supreme Court on Wednesday extended the release of Sahara India chairman Subrata Roy till July 11 on condition that he would deposit Rs. 200 crore.

The apex court while extending Roy's release said that the failure to deposit Rs. 200 crore by July 11 shall land him back in the Tihar jail.However, the apex court permitted Roy's movement within the country.

The court directed the Securities and Exchange Board of India (SEBI) to continue with auction of properties. Roy submitted list of his immovable assets to the Supreme Court and requested that the details should be kept in a sealed cover.

The apex court observed that the value of Sahara assets is many times more than its dues. Roy was released from the Tihar jail on May 6 on four-week parole to attend the last rites of his mother. The court also sought an assurance from Roy's counsel Kapil Sibal that he would not try to escape or run away.

Roy was in the Tihar jail since March 2014 in relation with a long running dispute with market regulator SEBI.