Sahara India Pariwar chief Subarata Roy on Friday told the Supreme Court that he was ready to pay an additional Rs 300 crore to the Securities and Exchange Board of India as a bank guarantee, PTI reported. This came after the court on August 3 agreed to extend Roy’s parole till September 16 on the condition that he deposit the amount with the financial regulator. A bench of the court headed by Chief Justice TS Thakur has listed the matter for next week.

The Sahara head was granted parole on May 6 on humanitarian grounds following his mother’s death. He was directed to pay an amount of Rs 500 crore to extend his parole. He had also earlier told the court that his conglomerate would be in a position to fulfil all its conditions for granting him interim bail in the case against him by December, adding that the group was also in talks with Canara Bank to for a guarantee of Rs 1,500 crore.

Roy was sent to Tihar Jail in March 2014 after he failed to comply with a court order to refund money raised from investors through the sale of bonds, which was later ruled illegal. The group of companies has said that it is in negotiations to sell three of its overseas hotels, including the Grosvenor House Hotel in London, to raise the money necessary to secure bail. The apex court has so far allowed the Sahara group to sell its properties to raise Rs 5,000 crore as a bank guarantee, which will have to be deposited along with an additional Rs 5,000 crore for its chief to be granted bail.