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Subrata Roy (born 10 June 1948 – died 14 November 2023, Aged: 75 years old) is one of the most influential and controversial businessmen in India. He is the founder and chairman of Sahara India Pariwar, a conglomerate that has interests in various sectors such as finance, media, real estate, hospitality, sports, and entertainment.

He is also known for his philanthropic activities and his involvement in legal disputes with the authorities. In this article, we will take a look at his life, family, achievements, net worth, and more.

Early Life, Parents, and Education

Subrata was born on 10 June 1948 in Araria, a small town in Bihar. His father, Sudhir Chandra Roy, was a mechanical engineer who worked for the Indian Railways. His mother, Chhabi Roy, was a homemaker who instilled in him the values of hard work and honesty.

Subrata Roy was a bright student who excelled in academics and sports. He completed his elementary education at Holy Child School in Kolkata and then moved to Gorakhpur, Uttar Pradesh, where he pursued his diploma in mechanical engineering from the Government Technical Institute.

Career and Business

Subrata started his career as a clerk in a small firm in Gorakhpur. He soon realized that he had a knack for business and decided to venture into the field of finance. In 1978, he founded Sahara India with a capital of Rs. 2,000 and a staff of three people. He began by offering small deposits and loans to the rural and semi-urban population, who were largely ignored by the mainstream banking system. He also adopted a unique model of door-to-door service and personalized attention, which earned him the trust and loyalty of his customers.

Over the years, Roy expanded his business into various domains such as construction, media, retail, IT, hospitality, health care, education, and automobile. He also diversified into sports and entertainment, owning franchises in cricket, hockey, football, and badminton, as well as producing and distributing films and television shows. He also launched his own news channel, Sahara Samay, and his own newspaper, Rashtriya Sahara. He also acquired prestigious properties such as the Plaza Hotel and the Dream Downtown Hotel in New York, the Grosvenor House Hotel in London, and the Aamby Valley City in Maharashtra.

Subrata Roy’s vision was to create a family and not just a company. He called his employees “workers” and treated them as his own children. He also called his customers “members” and considered them as his extended family. He named his conglomerate as Sahara India Pariwar, which means Sahara India Family. He also initiated various social and charitable initiatives under the banner of Sahara Welfare Foundation, such as providing health care, education, housing, and employment to the underprivileged sections of the society.

Achievements and Awards

Subrata is widely regarded as one of the most successful and influential businessmen in India. He has been conferred with several awards and honors for his contribution to the Indian economy and society. Some of them are:

• Baba-E-Rozgar Award (1992) for generating employment opportunities for the masses.
• Udyam Shree (1994) for his excellence in entrepreneurship and innovation.
• Karmaveer Samman (1995) for his outstanding social service and philanthropy.
• National Citizen Award (2001) for his exemplary citizenship and patriotism.
• The Best Industrialist Award (2002) for his remarkable achievements in the industrial sector.
• Businessmen of the Year Award (2002) for his outstanding performance and leadership in the business world.
• Global Leadership Award (2004) for his visionary and inspirational leadership in the global arena.
• ITA – TV Icon of the Year (2007) for his contribution to the Indian television industry.

• Vishisht Rashtriya Udaan Samman (2010) for his exceptional achievements in the aviation sector.
• Vocational Award for Excellence (2010) by Rotary International for his vocational excellence and service to humanity.
• Business Icon of the Year award (2011) by the Powerbrands Hall of Fame Awards in London for its iconic status and brand value in the international market.
• Honorary Doctorate in Business Leadership from the University of East London (2013) for his distinguished leadership and management skills.
• Honorary Degree of D. Litt. by Lalit Narayan Mithila University, Darbhanga for his academic excellence and scholarly pursuits.

Death Cause

According to the information I found, Roy died due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes on 14 November 2023, at the age of 75. He was hospitalized in Mumbai after his health declined on 12 November 2023. 

He was the founder and chairman of Sahara India Pariwar, one of the largest conglomerates in India, which was embroiled in controversies related to financial irregularities and fraud. He is survived by his wife Swapna Roy and two sons Sushanto Roy and Seemanto Roy.

Net Worth, House, and Income

Subrata Roy’s net worth is estimated to be around $200 million as of November 15, 2023, according to various sources. However, his actual net worth may be much higher, as he owns several assets and businesses that are not publicly disclosed.

His income sources include his shareholding in Sahara India Pariwar, his earnings from his media and entertainment ventures, his returns from his investments in real estate and hospitality, and his royalties from his books and publications.

Subrata Roy Wiki/Bio

Marriage, Wife & Kids

Subrata is married to Swapna Roy, who is also the deputy managing worker of Sahara India Pariwar. She is in charge of the personnel and welfare department of the company. They have two sons, Sushanto Roy, and Seemanto Roy, who are both executive directors of the company. They are involved in various businesses of the group, such as real estate, media, sports, and entertainment. Roy also has four grandchildren, who are his pride and joy.

Subrata Roy is a devout Hindu who follows the teachings of the Vedas and the Bhagavad Gita. He is also a follower of the spiritual guru, Sri Sri Ravi Shankar, and the founder of the Art of Living Foundation. He believes in the philosophy of “Shanti, Sukh, Santushti”, which means peace, happiness, and satisfaction. He is also an avid reader and writer, who has authored several books on topics such as life, business, and spirituality. Some of his books are:

• Shanti, Sukh: Santushti (1994), a collection of essays on peace of mind and happy living.
• Maan, Samman, Atmasamman (2000), a book on self-respect and dignity.
• Life Mantras (2016), a book on the principles and values of life.
• Think With Me (2016), a book on the issues and challenges facing India and the world.

Legal Troubles and Controversies

Subrata Roy’s meteoric rise and success have also been marred by several legal troubles and controversies. He has been accused of various charges such as fraud, money laundering, tax evasion, and violation of regulations. He has also been involved in several disputes with the authorities, such as the Securities and Exchange Board of India (SEBI), the Reserve Bank of India (RBI), the Income Tax Department, and the Supreme Court of India.

The most prominent and long-running case against him is the Sahara-Sebi case, which started in 2010. The SEBI alleged that Subrata and his two companies, Sahara India Real Estate Corporation Limited (SIRECL) and Sahara Housing Investment Corporation Limited (SHICL), had raised over Rs. 24,000 crore from nearly 3 crore investors through illegal and unregulated schemes. The SEBI ordered Roy and his companies to refund the money to the investors with interest and penalties. Subrata challenged the order in various courts, claiming that he had already repaid the money to the investors and that the SEBI had no jurisdiction over his companies.

The case reached the Supreme Court of India, which upheld the SEBI’s order and directed Roy and his companies to deposit the money with the SEBI by February 2013. However, Subrata failed to comply with the order and sought more time and relief from the court. The Supreme Court issued a non-bailable warrant against him and ordered his arrest in February 2014. Subrata was arrested by the Uttar Pradesh Police and taken to the Tihar Jail in Delhi, where he remained for over two years.

In May 2016, the Supreme Court granted him a four-week parole to attend the funeral of his mother, who had passed away. He was also allowed to stay out of jail on bail, on the condition that he would deposit Rs. 5,000 crores in cash and Rs. 5,000 crores in bank guarantees with the SEBI. He was also required to report to the police every fortnight and seek permission from the court for any travel outside Delhi. Roy has been trying to arrange the money by selling his assets and properties, both in India and abroad. He has also been negotiating with various investors and creditors to settle his dues and liabilities.

Subrata Roy has maintained his innocence and claimed that he is a victim of conspiracy and injustice. He has also appealed to the public and the media to support him and his cause. He has also expressed his faith in the judiciary and the law of the land. He has also vowed to clear his name and reputation and to restore the glory and honor of his Sahara India Pariwar.

Subrata is a man of many facets and contradictions. He is a visionary and a leader, who has built a business empire from scratch and has provided livelihood and welfare to millions of people. He is also a philanthropist and a patriot, who has contributed to the development and progress of the nation. He is also a rebel and a fighter, who has challenged the system and the status quo. He is also a prisoner and a fugitive, who is facing the wrath of the law and the authorities. He is also a human and a family man, who has his own joys and sorrows, hopes and fears

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