Subrata Roy, Head of India’s Sahara Group, Dies at 75

Subrata Roy, the founder and chairman of India’s Sahara Group, died on Tuesday at the age of 75. He had been battling cancer for several years.

Roy was a controversial figure, but there is no doubt that he was a successful businessman. He built Sahara into one of India’s largest conglomerates, with interests in real estate, finance, media, and entertainment.

Roy was born in a small village in West Bengal in 1948. He dropped out of school at a young age to work as a street vendor. He eventually started his own business, selling insurance policies.

In the 1970s, Roy began selling investment products called “Sahara Chit Funds.” These products were similar to mutual funds, but they were not regulated by the government. Sahara Chit Funds quickly became popular, and Roy’s company grew rapidly.

By the 1990s, Sahara was one of India’s largest companies. It had interests in real estate, finance, media, and entertainment. Roy was a billionaire and a celebrity. He was known for his lavish lifestyle and his philanthropic work.

However, Roy’s success came with controversy. In 2012, the Supreme Court of India ordered Sahara to return ₹24,000 crore ($3.3 billion) to investors who had invested in its chit funds. Roy was arrested and held in jail for more than two years.

Roy was eventually released from jail in 2014, but he was still facing legal challenges. He died on Tuesday after a long battle with cancer.

Here is a more detailed look at Subrata Roy’s life and career:

Early life and education

Subrata Roy was born on November 15, 1948, in a small village in West Bengal, India. He was the son of a farmer. He dropped out of school at a young age to work as a street vendor.

Business career

In the 1970s, Roy started his own business, selling insurance policies. He eventually began selling investment products called “Sahara Chit Funds.” These products were similar to mutual funds, but they were not regulated by the government. Sahara Chit Funds quickly became popular, and Roy’s company grew rapidly.

By the 1990s, Sahara was one of India’s largest companies. It had interests in real estate, finance, media, and entertainment. Roy was a billionaire and a celebrity. He was known for his lavish lifestyle and his philanthropic work.

Controversy

However, Roy’s success came with controversy. In 2012, the Supreme Court of India ordered Sahara to return ₹24,000 crore ($3.3 billion) to investors who had invested in its chit funds. Roy was arrested and held in jail for more than two years.

Roy was eventually released from jail in 2014, but he was still facing legal challenges. He died on Tuesday after a long battle with cancer.

Legacy

Subrata Roy was a controversial figure, but there is no doubt that he was a successful businessman. He built Sahara into one of India’s largest conglomerates, with interests in real estate, finance, media, and entertainment.

Roy’s death is a significant loss for India. He was a complex figure who had a major impact on the country’s business and social landscape.

FAQ

**What was Subrata Roy’s cause of death?

Subrata Roy died of a cardiorespiratory arrest following an extended battle with cancer.

**How old was Subrata Roy when he died?

Subrata Roy was 75 years old when he died.

**What was Subrata Roy’s net worth?

Subrata Roy’s net worth was estimated to be around $1 billion.

**What were Subrata Roy’s business interests?

Subrata Roy’s business interests included real estate, finance, media, and entertainment.

**What were Subrata Roy’s controversies?

Subrata Roy was controversial for his business practices, including his use of chit funds.

**What is the legacy of Subrata Roy?

Subrata Roy is remembered as a successful businessman who had a major impact on India’s business and social landscape.

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