Sahara Group founder Subrata Roy died on Tuesday after a prolonged illness at the Kokilaben Hospital in Mumbai. He was 75.
Roy was suffering from serious health issues for the last five months and died due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes, the company said in an official statement.
“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.
The Sahara Group Chairman is survived by his wife Swapna Roy and two sons Sushanto and Seemanto Roy.
Born to a Bengali Hindu family in Bihar’s Araria, Roy founded Sahara India Pariwar in 1978. Sahara India Pariwar has operated a vast number of businesses such as Aamby Valley City, Sahara Movie Studios, Air Sahara, Uttar Pradesh Wizards, and Filmy, among others.
Roy was named among the 10 Most Powerful People of India in 2012 by India Today. In 2004, Sahara group was termed by Time magazine as ‘the second largest employer in India after Indian Railways’.
The group operates through more than 5,000 establishments spread across India and has a workforce of around 1.2 million (both field and office) under the Sahara India umbrella.
On 26 February 2014, the Supreme Court of India ordered the detention of Roy for failing to appear before it in connection with a legal dispute with Market Regulator – SEBI. Roy was held in custody in the Tihar Jail and was later out on parole in May 2016. Sahara was allowed to sell a part of its assets in India to raise part of the money in question.
Roy had rejected allegations of misconduct and accused the Indian National Congress of witch hunt due to his opposition to Sonia Gandhi over becoming the country’s prime minister.
