Sahara Group Founder Subrata Roy Passes Away At 75 In Mumbai
The mortal remains of Sahara Group Chairman Roy will be brought to Lucknow, Uttar Pradesh, on Wednesday for the last rites.
New Delhi: Sahara Group founder Subrata Roy passed away at the age of 75 in Mumbai on Tuesday. Roy had been undergoing treatment at a local private hospital for an extended period.
The mortal remains of Sahara Group Chairman Roy will be brought to Lucknow, Uttar Pradesh, on Wednesday for the last rites.
According to the company statement, he passed away at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.
He was hospitalized at Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH) on Sunday following a decline in health.
“It is with profound sadness that Sahara India Pariwar informs the demise of our Hon’ble ‘Saharasri’ Subrata Roy Sahara. Saharasri ji an inspirational leader and visionary, passed away on 14th November 2023 at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes,” Sahara India Pariwar said in a statement.
“His loss will be deeply felt by the entire Sahara India Pariwar. Saharasri ji was a guiding force, a mentor, and a source of inspiration for all who had the privilege to work alongside him,” the group said.
Sahara Group Managing Worker and Chairman Subrata Roy passes away due to cardiorespiratory arrest: Sahara Group pic.twitter.com/ugUdBrxiSp
— ANI (@ANI) November 14, 2023
The Samajwadi Party expressed condolences on social media, writing, ''Sahara Shri Subrata Roy Sahara Ji's demise is extremely saddening. May God grant peace to his soul. May the grief-stricken family receive the strength to endure this immense loss. Heartfelt condolences!''
सहाराश्री सुब्रत रॉय जी का निधन, अत्यंत दुःखद।
— Samajwadi Party (@samajwadiparty) November 14, 2023
ईश्वर उनकी आत्मा को शांति दें।
शोकाकुल परिजनों को ये असीम दुःख सहने का संबल प्राप्त हो।
भावभीनी श्रद्धांजलि ! pic.twitter.com/QO6vAjriAv
Roy was the founder and chairman of the Sahara India Pariwar, a conglomerate with diversified business interests.
Sahara India Pariwar has interests in various sectors, including finance, real estate, infrastructure and housing, media and entertainment, tourism, and hospitality.
Despite achieving success in business, the Sahara boss in 2014 faced legal challenges with market regulator SEBI for some investment schemes that were later found to be illegal. He had to spend more than a year in Tihar Jail after the Supreme Court ordered his detention for failing to appear in court in connection with a dispute with the Securities and Exchange Board of India (SEBI).
The case centered on SEBI's demand for Sahara to refund billions to investors, with the Supreme Court setting up a "Sahara-Sebi refund account" for this purpose.
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