The permission came after the court was satisfied that the transactions were in accordance with its June 4 order.
Roy was jailed in March after he failed to appear at a contempt hearing in the long-running dispute with the capital markets watchdog.
Subrata Roy has been held in jail for more than a year.
Shares of two Sahara firms fell by up to 5 per cent on Wednesday, after the group's chief Subrata Roy and two directors were jailed for a week for not complying with the Supreme Court order on refunding around Rs 20,000 crore (Rs 200 billion) of investors money.
The Chief Justice said that some people play with the dignity of the court and there were some lawyers who are disrespectful towards the court.
SC wanted to know how it encashed securities deposited with RBI.
The cause list put on the apex court website on Monday, however, showed that the case, which was listed before a special bench of justices K S Radhakrishnan and J S Khehar "stands deleted and the same is adjourned".
The company wanted to pay off the depositors' money in instalments.
Sahara Counsel told the court that negotiations were underway for selling Sahara Group's offshore properties for raising sufficient fund for Subrata Roy's bail.
More properties are expected to go under the hammer in the coming days.
In a relief to Sahara, a US court has rejected a plea seeking to attach the Indian group's prized Plaza and Dream Downtown hotels.
The bench said it is evident that there was a difficulty for the group to sell its properties to arrange Rs 36,000 crore
Looking to raise funds to ensure release of its chief Subrata Roy from jail, Sahara has sold a big land parcel at the outskirts of the national capital for Rs 1,211 crore to Gurgaon-based developer M3M India Ltd.
The criminal case was registered by the Mumbai zonal office of the agency after it got reports in this regard from the Sebi.
An investment vehicle lining up a $2 billion package to help bail the boss of India's troubled Sahara out of jail said it expects to ultimately take control of landmark hotel assets like New York's Plaza after the conglomerate fails to repay lenders.
The group is selling property to raise a particular sum for the release of its chief Subrata Roy, in Tihar jail since March 4.
Roy and the other two directors of the Group have been in judicial custody since March 4.
With Sahara India chief Subrata Roy behind bars, the country's first seaplane service from the megapolis to Aamby Valley City, which is run by the Sahara group, was today grounded for the time being.
The company has been given time till June by mortgage holders Reuben Brothers
Sahara group, whose chief Subrata Roy who was in jail for over two years in connection with a long-running dispute with markets regulator Sebi is now out on parole
The apex court also asked Sahara Group to provide it within two weeks the list of 'unencumbered properties' which can be put on public auction.
Earlier, the top court said it had been "taken for a ride" by the Sahara group by its past conduct and asked it to submit a roadmap for paying the balance amount
Sahara offers new plan for Subrata Roy's release
The Supreme Court has set conditions on the fund raising, however, and on Friday asked Sahara to obtain necessary approvals from the Indian central bank and other authorities to comply with foreign exchange rules.
Subrata Roy was arrested in March 2014 after the company failed to comply with a court order to refund money raised from millions of small investors by selling them bonds later ruled to be illegal.
The apex court had also asked Sahara Group to provide it within two weeks the list of "unencumbered properties" which can be put for public auction to realise the remaining over Rs 14,000 crore
The Sahara Group had earlier sought 18 months' time to repay around Rs 9,000 crore balance amount of the principal amount of Rs 24,000 crore.
Lawyers said that assets are being sold and the group is depositing the money with Sebi.
Sahara group has been engaged in a long-running regulatory and legal battle with Sebi.
Senior advocate Rajeev Dhawan, appearing for Sahara, sought release of Sahara chief Subrata Roy on the ground of his "deteriorating" health and the fact that market regulator Sebi has already been authorised to sell 66 properties
Grosvenor House hotel was put on sale by its lender Bank of China earlier this year after a 'technical default'
The Sahara Group has sought Supreme Court's permission to sell its shares in the Force India Formula 1 team as part of its effort to raise funds for the release of conglomerate's jailed chief Subrata Roy.
Sahara had initiated legal action against the US-based firm.
No reason was given for his resignation.
SC refuses to extend the deadline for Sahara to deposit Rs 600 crore
The Sahara group has accused Mirach of 'cheating and forgery'.
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
Roy was allowed by the Supreme Court to use the jail's conference room to negotiate sale of his hotels in order to collect Rs 10,000 crore (Rs 100 billion) for his bail.
The apex court was irked when Sebi claimed that the group had allegedly obstructed the process by writing a letter to the Pune police raising the issue of law and order at the prime property.
The sale is to generate the bail money for the release of Sahara Group chief Subrata Roy.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances