Subrata Roy, Founder of Sahara Group, Passes Away At Mumbai Hospital After Prolonged Illness

Sahara India Group Founder Subrata Roy died on Tuesday at the age of 75 in Mumbai after a prolonged illness.

He breathed his last at Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH) in Mumbai where he was admitted on Sunday after his health deteriorated.

Hailing from Bihar’s Araria, Subrata Roy, founded an extensive business conglomerate that extended across diverse industries, encompassing finance, real estate, media, and hospitality.

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In a statement, Sahara India Pariwar said Roy is an inspirational leader and visionary, passed away on November 14, 2023, at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes.

“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,” read the statement.

Born on June 10, 1948, Roy pursued mechanical engineering at the Government Technical Institute in Gorakhpur. He assumed control of Sahara Finance, a chit-fund company, in 1976. Within two years, by 1978, Sahara India Pariwar evolved into one of India’s most extensive conglomerates.

In 2014, Roy encountered legal difficulties, grappling with concerns over financial irregularities and adherence to regulatory requirements. Subsequently, he underwent a period of over a year in jail following Sahara’s non-compliance with a court directive to reimburse billions of dollars to investors involved in a bond program deemed “illegal”.