UPDATE 1-Indian court delays bail decision on jailed Sahara chief

May 14, 2015 1:12 PM

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NEW DELHI May 14 (Reuters) - India's Supreme Court has deferred a decision on media-to-hotels group Sahara's bid to obtain bail for its boss, jailed more than a year ago in a long-running dispute over illegal bonds.

Sahara founder Subrata Roy was arrested after the company failed to comply with a court order to refund money it had raised from millions of small investors by selling them bonds later ruled to be illegal.

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