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Feb 28, 2014 at 04:16pm IST

UP Police arrests Sahara's Subrata Roy, SC to hear case on March 4

New Delhi: Sahara chief Subrata Roy has been taken into custody by Lucknow police, his lawyer Ram Jethmalani informed the Supreme Court on Friday. Roy was arrested on Friday morning at 10:30 in Lucknow. UP Police will produce Roy before a magistrate to seek transit remand to bring him to Delhi.

Jethmalani wanted the Supreme Court to hear the matter on Friday itself but the judges declined the request. The court informed the lawyer that he will be in custody till March 3 and the case will be taken up on March 4.

ALSO SEE Delhi Police reaches Sahara press meet venue, Subrata Roy says he's not fleeing

Earlier on Friday Roy issued a statement where he said that he was not absconding arrest and was indeed in Lucknow. He also requested the Supreme Court to put him under house arrest with his ailing mother in Lucknow.

In the media statement issued on Friday morning, Roy said, "I am not absconding. I am in Lucknow. With folded hands and all humility I ask the honourable judges to leave me under house arrest with my ailing mother."

ALSO SEE Supreme Court to hear Sahara chief Subrata Roy's plea today

Roy's statements come a day after the Uttar Pradesh Police conducted raids at his Lucknow residence but failed to find him.

The Sahara supremo had written to the Supreme Court saying that he should not be arrested till March 3 and allowed to stay with his mother. He said that he was ready to "unconditionally" obey Supreme Court direction and was ready to come to Delhi if asked by the SC.

Accusing the media of character assassination, Roy said that he would never 'forget' the people (in media) if anything happened to his mother in his absence.

"I have informed police to do their duty as per direction of Supreme Court: Sahara chief says in a statement. People advised me to get admitted in hospital to avoid courts on medical grounds. I hate to do such drama, " he added.

Roy on Thursday moved the Supreme Court asking for the recall of the non-bailable warrant. He also tendered an unconditional apology to the court admitting that not turning up at court was an error in judgement. The Supreme Court will hear Subrata's plea later in the day today.

Subrata Roy said that arresting him will hurt his reputation.

Besides seeking recall of Wednesday's order and the NBW, Roy's application sought a stay of the operation of the order during the pendency of this application. He appealed to the "humane side" of the court to consider sympathetically the wishes of his mother and permit him to be with her in her last moments. Roy also said that he believed that the court will in all its magnanimity pardon the "error of judgement" on his part and condone his non-appearance since it was "neither intentional nor deliberate".

He submitted that the non-recall of the NBW order shall cause "grave prejudice" to him and he shall suffer "irreparable loss and injury because without your lordships' merciful favour applicant cannot be with his mother in peace". Roy submitted that he was emotionally and mentally very attached to his mother who has been guiding light in his life since he lost his father 37 years ago.

The court had issued a non-bailable arrest warrant against him on Wednesday when he failed to appear in court in connection with Sahara's failure to refund Rs 20,000 crore to investors.

Newsroom buzz with Amrita Tripathi: Subrata Roy arrest tarnishes the image of the group Chiarman Newsroom buzz with Priyali Sur: Observers are questioning the timing arrest of Sahara Chief
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