On November 14, the business world mourned the loss of Subrata Roy, the visionary founder of Sahara India Pariwar, who succumbed to prolonged illnesses at the age of 75.
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Roy’s health had been a concern, leading to his admission to a Mumbai hospital on Sunday. Tragically, complications arising from metastatic malignancy, hypertension, and diabetes eventually claimed his life, as confirmed by the company.
The legacy of Sahara, once a prominent sponsor of India’s national cricket team, is intertwined with the legal battles Roy faced.
The company found itself in a protracted dispute with market regulator SEBI over the repayment of billions to investors involved in an alleged illegal bond scheme.
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Photo Credit: The Economic Times
Notably, Roy, as the founder and chairman of Sahara, faced a tumultuous period. His arrest in March 2014, stemming from failure to attend a contempt of court hearing, marked a significant chapter.
Despite being on bail since 2016, Roy consistently denied any wrongdoing.
The Sahara Group, under Roy’s leadership, held a diverse portfolio, including iconic properties like New York’s Plaza Hotel and London’s Grosvenor House.
Additionally, Roy left his mark on the sporting arena as the co-owner of the former Force India Formula One team.
In 2020, Sahara and Roy sought legal intervention to halt the release of Netflix’s series “Bad Boy Billionaires,” which featured Roy among other business figures. The court eventually lifted the injunction, allowing the show’s release.
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