Indian diversified group Sahara will soon close an agreement to sell the Grosvenor House hotel in London to Qatar, it told a court in India on Tuesday, said a report.

The group is also negotiating a deal with a lender for refinancing the loans on two New York hotels —The Plaza, and the Dream Hotel Downtown, The Wall Street Journal reported.

Following the sale of Grosvenor House, the proceeds will be used to pay the $1.5 billion in bail that the court has set for Sahara founder Subrata Roy, who has been behind bars for two years.

Roy was charged with contempt of court for allegedly failing to pay $5.5 billion, owed to bondholders in India. Moreover, the country’s capital-markets regulator has accused two Sahara units of having raised money through an illegal private placement of bonds, and has asked Sahara to refund the money to investors, the report said.