• Roy stays inside

Subrata Roy, the head of Indian hotel group Sahara, has again been refused bail by the Indian Supreme Court. Roy remains incarcerated for failing to repay Indian investors after a fundraising scheme was judged illegal, reports Reuters.[img]/sites/all/modules/contrib/wysiwyg/plugins/break/images/spacer.gif[/img]
Judges have lifted a restriction, allowing Sahara to liquidate Indian property holdings, securities and bonds, to raise cash. Roy, whose group owns the New York Plaza and Grosvenor House in London, has offered to sell the hotels to help with repayments.
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