The Sahara Group Chief, Subrata Roy has been arrested after he surrendered to police today.
On Wednesday, Roy failed to appear at the Supreme Court in a fraud case. He has been accused of raising 240bn rupees through bonds that were found to be illegal.
Roy is expected to stay in custody until Tuesday 4th March as the Supreme Court said a bail petition was not being permitted at this stage.
His son, Seemanto Roy, told a press conference in Delhi, “Mr Roy wilfully submitted himself before [the northern city of] Lucknow police. He is co-operating with all authorities.”
Earlier today, Roy said he he was not “absconding” from arrest after police raided his house yesterday but failed to find him. Roy told police that he was in Lucknow to take care of his ailing mother.