A former New York-based Indian journalist was sent to Tihar jail on April 27, for contempt of court in the matter of the purchase of a Sahara-owned hotel in New York City.
India’s Supreme Court judges had sentenced Prakash Swamy, 64, to one month jail term for contempt of court on grounds that he had failed to keep his word given in an affidavit and put down more than $100 million dollars to prove that the bonafides of the intended purchase of the Plaza Hotel in the Big Apple.
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Swamy has in his affidavit, said that MG Holdings was buying the Plaza Hotel, according to several Indian news reports. The court has demanded him to deposit an amount of around $117 million into the SEBI-Sahara Refund account, to prove the bonafides of the intended purchase.
On April 17, Swamy’s attorney has informed the court that the payment could not be met. The court ordered Swamy’s passport be seized and that he has to deposit an amount of approximately $1.5 million and appear before the court on April 27.
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Swamy, a veteran reporter in the New York for many years, has asked for forgiveness from the judges, who however, said it would send a “wrong signal” if they set him free.
“When you filed affidavit in the court you should have undertaken due diligence. You should have also borne in mind the consequences,” the three-judge bench said. “You should have realised the gravity of the case,” said Justices Dipak Misra, Ranjan Gogoi and A.K. Sikri.
Swamy’s attorney has argued that the New York-based holding company should be held responsible and not Swamy.
By Premji
