Sahara chief Subrata Roy has informed the Supreme Court about his willingness to pay an additional Rs 300 crore to secure an extension of his parole till September 16 according to reports. A bench headed by Chief Justice TS Thakur directed that the matter be listed next week after senior advocate Kapil Sibal, appearing for Roy, mentioned the matter before it.  "I am ready to pay additional Rs 300 crore but this amount should be adjusted as a bank guarantee," Sibal told the bench that also comprised Justices A M Khanwilkar and DY Chandrachud.

"It goes without saying that you will go back (to jail) if you don`t deposit Rs 300 crore," Chief Justice Thakur observed as Kapil Sibal, appearing for Roy, urged the apex court not to say in its order that default in depositing Rs 300 crore would result in the return journey to jail. Earlier on July 11, the apex court had extended his parole, on humanitarian grounds following the death of his mother, with a strict condition that he would have to deposit the balance of Rs 300 crores out of the Rs 500 crores promised by him.

Roy was granted parole on May 6 this year which was extended by two months on May 11. The Sahara chief was sent to jail on May 4, 2014, for his failure to comply with 2012 order directing him to return investor’s Rs 17,600 crores with 15 percent interest that his two companies Sahara India Real Estate Corp Ltd and Sahara Housing Finance Corp Ltd had raised through optionally fully convertible debentures (OFCD) in 2007 and 2008.