• Arrest for Roy

Subrata Roy, owner of the London Grosvenor House and New York Plaza hotels, has been arrested. Roy surrendered to police after a warrant for his arrest was issued, after he failed to appear in front of India’s Supreme Court to answer questions, reports the BBC.

Firms in Roy’s Sahara group had raised GBP2.3bn from small investors in a bond issue, later judged to be illegal with refunds ordered by a court. Roy claimed he could not attend the hearing, as his mother was ill, but the court rejected his request.
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