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Head of India's Sahara group surrenders to police over payment delays

Published on Feb 28, 2014 4:39 PM
 
India's Sahara group's chairman Subrata Roy (centre), surrounded by bodyguards, leaves the Securities and Exchange Board of India (SEBI) head office in Mumbai, on April 10, 2013. The head of India's giant Sahara group surrendered to police on Friday, Feb 28, 2014, two days after the Supreme Court ordered his arrest over delays in repaying billions of dollars illegally collected from small investors. -- FILE PHOTO: AFP

NEW DELHI (AFP) - The head of India's giant Sahara group surrendered to police on Friday, two days after the Supreme Court ordered his arrest over delays in repaying billions of dollars illegally collected from small investors.

Mr Subrata Roy "wilfully submitted himself" to police in Lucknow, capital of northern Uttar Pradesh state where the group has its headquarters, Sahara's executive director told a New Delhi news conference.

"As a law-abiding citizen of the country, this morning he wilfully submitted himself to Lucknow police. He is co-operating with the authorities," said Mr Seemanto Roy, who is also the son of Mr Subrata Roy.

On Tuesday, the court ordered the arrest over delays in repaying money collected from rural savers through bond sales.

 
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