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Subrata Roy (10 June 1948 – 14 November 2023) was an Indian businessman who founded the business conglomerate Sahara India Pariwar in 1978. Sahara India Pariwar operated a vast number of businesses, such as Aamby Valley City, Sahara Movie Studios, Air Sahara, Uttar Pradesh Wizards, and Filmy, among others.
Nov 14, 2023 · Sahara Group founder Subrata Roy died on Tuesday in Mumbai after combating a prolonged illness. He was 75.
- India Today Web Desk
- Business
Nov 15, 2023 · Subrata Roy, the embattled head of Sahara, once one of the country’s largest conglomerates, died on Tuesday, his company said in a statement. He was 75.
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Nov 14, 2023 · Sahara Group chief Subrata Roy died in a Mumbai hospital Tuesday of a cardiorespiratory arrest following, what a company statement said, had been an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes. He was 75.
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- With the rising popularity, Subrata Roy in 2012 was named one of India's most influential businessmen by India Today magazine. Also Read | ‘Pride of Lucknow’: Netizens react to passing away of Subrata Roy Sahara.
- In 2004, Time magazine named the Sahara Group as “the second-largest employer in India" for its 1.2 million workforce. The top position in India was held by the Indian Railways.
- Subrata Roy had created a huge business empire across retail, real estate and financial services sectors but the tragedy struck when his companies were embroiled in a legal tussle with SEBI after the market regulator in 2011 ordered Sahara India Real Estate Corporation Ltd (SIRECL) and Sahara Housing Investment Corporation Ltd (SHICL) to refund the money raised from investors through certain bonds known as Optionally Fully Convertible Bonds (OFCDs) that was later ruled to be illegal.
- After months of legal battles, in 2012, the Supreme Court upheld Sebi's ruling asking Subrata Roy's two firms to refund the money collected from investors with 15 per cent interest i.e., ₹24,000 crore.
Subrata Roy, the founder of Sahara Group, passed away in Mumbai on Tuesday night at the age of 74 after battling a prolonged illness. He was admitted to Kokilaben Dhirubhai Ambani Hospital ...
Nov 15, 2023 · One of India's most controversial businessmen, Subrata Roy, died on Tuesday at the age of 75 in Mumbai, the country's financial capital. Roy was the founder of Sahara Group - a...
