Sahara Group Founder Subrata Roy Passes Away At 75
Subrata Roy, the founder of the Sahara Group, passed away on Tuesday at the age of 75 in Mumbai. Roy had been receiving treatment at a local private hospital for some time.
The mortal remains of Sahara Group Chairman Roy will be brought to Lucknow, Uttar Pradesh, for final rites on Wednesday.
According to the company statement, he passed away at 10.30 p.m. due to cardiorespiratory arrest after a long battle with complications from metastatic cancer, hypertension and diabetes. Following a decline in health, he was admitted to Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH) on Sunday.
“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.
Roy was the founder and chairman of Sahara India Pariwar, a business conglomerate with diverse interests. Finance, real estate, infrastructure and housing, media and entertainment, tourism and hospitality are all areas in which Sahara India Pariwar has an interest.
Despite business success, the Sahara founder faced legal challenges with market regulator SEBI in 2014 for some investment schemes that were later found to be illegal. 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), he spent more than a year in Tihar Jail.
