Sahara's propensity to issue full-page advertisements indirectly targeting the court's wisdom every time it suffered a setback could have hardly helped its cause.
Sahara also sought permission to sell its properties in Bangalore.
The Supreme Court will on Tuesday deliver its verdict on Sahara Chief Subrata Roy's petition challenging its decision to send him to jail for not complying with its order to deposit around Rs. 20,000 crore (Rs 200 billion) of investors money with SEBI.
The Sahara chief was lodged in a guest house of the state forest department at Kukrail
Senior advocate C A Sundaram, appearing for Roy, submitted that his client has some business overseas and he is needed there.
Roy was summoned by the market regulator Sebi on Wednesday to ascertain details of his personal and two company assets that could be sold to generate over Rs 24,000-crore (Rs 240-billion) worth funds required to be returned to the investors.
The Supreme Court has denied to release Sahara Chief Subrata Roy on bail or parole.
The hearing was adjourned to March 25.
The Supreme Court on Friday declined to hear Sahara chief Subrata Roy's plea for recall of the non-bailable warrant (NBW) issued by it against him in a contempt case.
Subrata Roy turned up at a New Delhi stadium, best known for hosting the Commonwealth Games, last week as part of his country wide Abhaar Yatra.
Over seven hours after he was arrested, Sahara Chief Subrata Roy was produced in a court here which directed the UP police to keep him in custody till March 4 when he will be produced before Supreme Court.
The court will hear Sahara case on July 14.
Delhi court to hear Subrata Roy's IT case on June 1.
The story of Sahara India Pariwar founder Subrata Roy, who died in Mumbai on November 14 aged 75, is the stuff of movies - of a spectacular rise and an equally spectacular fall. Born in Araria, Bihar, Roy was 30 when he set up Sahara in 1978. He started with a capital of about Rs 2,000, a peon, a clerk and his father's Lambretta scooter in Gorakhpur, eastern Uttar Pradesh, writes Tamal Bandyopadhyay in his 2014 book, Sahara: The Untold Story. Sahara was not his first venture.
Roy's plea was mentioned before a bench comprising justices K S Radhakrishnan and J S Khehar which said he has to appear on Wednesday.
Tightening its noose around Sahara group, market regulator Sebi on Tuesday asked Sahara group chief Subrata Roy and three other top executives to submit details of their assets, bank accounts and tax returns by April 8 followed by personal hearings on April 10.
Sahara Group chief Subrata Roy and two directors have been in Tihar Jail since March 4.
In a dramatic turn of events, Sahara chief Subrata Roy on Friday said he is not absconding from arrest and is ready to "unconditionally follow" whatever direction the Supreme Court gives him today.
A bench of Justice G S Singhvi and K S Radhakrishnan also issued notice to Roy and his two employees, who were working with his news channel, seeking their response on why probe be not initiated against them.
The group needs to rustle up Rs 5,000 crore in cash and an equal amount in bank guarantees for bail.
The court also issued notice to the Income Tax department.
The lawyer, who threw black ink at Sahara Group chief Subrata Roy in the Supreme Court premises on Tuesday, was today sent to Tihar jail by a Delhi court after he failed to get a surety for his bail.
He wanted 15-day relief to attend aunt's cremation.
Sahara group claims that it has directly paid back most of the investors and the total outstanding liability is less than Rs 5,120 crore (Rs 51.2 billion) already given to Sebi towards refund.
Subrata Roy is in jail since March last year.
The Supreme Court is likely to pronounce on Wednesday its verdict on a plea of jailed Sahara Group chief Subrata Roy seeking modification of an earlier order asking him to pay Rs 5,000 crore (Rs 50 billion) in cash besides a bank guarantee of an equivalent amount for securing his release.
Sahara chief Subrata Roy, who was sent in judicial custody for a week in Delhi by the Supreme Court today, will be kept in high-security Tihar prison where he will sleep on the floor and eat jail food like an ordinary prisoner.
In a setback to Sahara Group chairman Subrata Roy, the company on Thursday informed the Supreme Court that it will not be able to deposit Rs 10,000 crore (Rs 100 billion) to release Subrata Roy from jail.
Sahara Group got other much-needed relief with the apex court lifting its embargo of permitting it to sell only 19 properties.
Roy and the other two directors of the Group have been in judicial custody since March 4.
A bench headed by Justice T S Thakur asked Delhi government to issue notification by August 4 for converting the conference room into jail which can be used by Roy and two jailed directors of Sahara for 10 working days from 06:00 AM to 08:00 PM for holding negotiations with prospective buyers of hotels in New York and London.
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The tycoon had been allowed to use an office, phone, internet connection and three secretaries.
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.
Besides Roy, two other directors, Ravi Shankar Dubey and Ashok Roy Choudhary, were also arrested for the failure of two group companies.
Sahara relied on a letter from bank saying the funds were there.
Jailed chief of Sahara conglomerate Subrata Roy has once again been provided with an AC conference room with services like Internet and video-conferencing at the Tihar prison as per a Supreme court order to complete negotiations for raising funds for his bail.
The apex court had asked Roy to pay Rs 10,000 cr.
Roy, who in compliance with the last order appeared before the court, was told by the apex court that he has to frequently make the payment as per the roadmap approved by the court or face further imprisonment.
The Sahara group on Tuesday told the Supreme Court that its chief Subrata Roy is not liable for refunding Rs 24,000 crore (Rs 240 billion) collected by its two firms from investors, countering the arguments of SEBI, which wanted his passport to be impounded till the contempt plea against him and companies is decided.
'Two esteemed foreign investors with huge funds are coming with us in our real estate and city development businesses.'
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