Saturday, October 25, 2014   

Black day for Indian tycoon Subrata Roy
(03-04 17:13)

A lawyer threw ink at Indian billionaire Subrata Roy (Pictured) today as he arrived at India's highest court to face charges that his company failed to return billions of dollars to investors.
Roy along with scores of police and security guards was entering the Supreme Court building today when the lawyer threw black ink at him. The ink was splashed on his face and the man was later arrested, local media reports said.
Roy's Sahara conglomerate is well known in India because it is a co-owner of a Formula One team and sponsored the Indian national cricket team until recently.
India's securities regulator has accused Roy's group of raising nearly 200 billion rupees (US$3.2 billion) through bonds that were later found to be illegal.
Anger against Roy has been growing as millions of poor Indians lost their life savings after investing in the bonds. Sahara has sold investment products in rural areas.
Roy was arrested Friday after he missed an appearance at the Supreme Court for a hearing on an illegal Sahara investment scheme. He turned himself in to police.–AP/The Standard
   
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