MUMBAI: Subrata Roy, head of Sahara group, was arrested in Lucknow today by the Uttar Pradesh police following the Supreme Court’s non-bailable warrant against him for failing to appear in the court on Wednesday.
The Sahara group businesses include Sahara One Media & Entertainment and real estate development.
In New Delhi, Roy’s lawyer Ram Jethmalani informed the Supreme Court that Roy has surrendered in Lucknow.
Police had visited Roy’s residence on Thursday but did not find him at home. Before surrendering, Roy issued a statement saying he was not absconding and was ready to "unconditionally follow" any Supreme Court directions.
The Supreme Court is hearing a case against Roy for non-compliance with its directive to refund money back to investors in the Sahara’s group financial services company.