The Supreme Court has ordered the Sahara Group chief Subrata Roy to remain in jail over his company's failure to refund investors in an outlawed bonds scheme.
The court also rejected Sahara's latest proposal to pay, in instalments, the Rs 100 billion ($1.7 billion) bail the court has asked for to secure its chairman release. The court also asked Sahara to make a new proposal.
Roy has been in Delhi-based Tihar Jail since March 4 after failing to appear at a contempt hearing in a long-running legal battle between his group and the Securities and Exchange Board of India.
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