Sahara Group Chief Subrata Roy Passes Away in Mumbai

Sahara India Group chief Subrata Roy died at 10.30 pm on Tuesday, November 14, in a private hospital in Mumbai. Sahara Group issued a statement saying that he was fighting diseases like hypertension and diabetes and had suffered cardiac arrest. He died due to.

The statement said that on November 12, due to ill health, he was admitted to Kokilaben Dhirubhai Ambani Hospital in Mumbai. On Wednesday, his body will be brought to Sahara city in Lucknow, where his last tribute will be paid.

Subrata Roy was born on 10 June 1948 in Araria, Bihar. His early education took place at Holy Child School, Kolkata, after which he studied mechanical engineering in Gorakhpur, Uttar Pradesh.

According to the group’s website, it has 9 crore investors and customers. The company says that his total assets are Rs 2 lakh 59 crore. Apart from this, he has five thousand campuses and 30 thousand 970 acres of land.

Subrata Roy connected with him millions of poor and rural Indians who did not have banking facilities and with their help, he established Sahara Group, but when the market regulator SEBI took steps against him, the empire built over decades started shaking.

This case was related to Sahara Group companies, which had raised about Rs 24 thousand crores from more than three crore investors in the name of investment in real estate. There was a time when Subrata Roy owned an airline, a Formula One team, an IPL cricket team, and luxurious hotels in London and New York. He sold his airline, Air Sahara, to Jet Airways, which itself later closed down.

At one time it was believed that Sahara Group had the highest number of employees after Indian Railways. The number of these people was said to be around 12 lakhs. Subrata Roy had friends from film stars to all political parties, but he was considered closer to former Samajwadi Party President and former Chief Minister of Uttar Pradesh Mulayam Singh Yadav.