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Subrata Roy chief of Sahara Group passes away

Reporter 12
15 Nov, 2023

Subrata Roy passed away at 10.30 pm on Tuesday due to cardiorespiratory arrest.

A business tycoon who started off with a chit fund business in the late 1970s, at the peak of his achievement, Mr. Roy overcame over an kingdom that included an airline, Air Sahara, television channels, finance and real estate, as well as the ambitious Amby Valley scheme near Lonavala in Maharashtra.

The Sahara group was once careful India’s second largest employer after the Indian Railways, with a professed employee base of around 1.2 million, but ran into distress with financial sector regulators over the business model of its finance entity that complicated raising deposits worth thousands of crores from small-ticket investors.

On Mr. Roy’s demise at the age of 75, the Sahara India Pariwar said: “It is with deep sadness that Sahara India Pariwar [group] informs the death of our Hon’ble ‘Saharasri’ Subrata Roy Sahara. Saharasri ji an inspiring leader and visionary, passed away on 14th November 2023 at 10.30 pm due to cardiorespiratory arrest following an extended battle with problems rising from metastatic malignancy, hypertension, and diabetes.”

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