Lali Modi helping Sahara, says US-based property broker to SC

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Former Indian Premier League (IPL) Commissioner Lalit Modi is brokering a deal to help facilitate the release of Sahara Chief Subrata Roy, a US-based property broker informed the Supreme Court. The company told the Supreme Court that it would buy Sahara’s Plaza hotel and Dreams Downtown hotel in New York. 67-year-old Roy, who is in jail since March 2014 for not complying with court order to return Rs 24,000 crore to investors, have to deposit Rs 5,000 crore in cash and a bank guarantee of equal amount for interim relief. The Supreme Court had also referred Roy to make payment of the entire Rs 36,000 crore, which includes interest, in 18 months to SEBI-Sahara account.

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