Subrata Roy had built a business worth crores, did not get the support of his wife and children in the last moments, know the whole story.

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Subrata Roy Death: Indian industrialist and Sahara Group chief Subrata Roy died on Tuesday due to a heart attack at the age of 75. But the sad thing is that even his wife and children were not with him in his last moments. Subrata Roy had built a huge business in the retail, real estate and financial services sectors in the country. However, later he also remained at the center of a big controversy. He faced several regulatory and legal battles in relation to his group companies, which were accused of circumventing rules to create multi-level marketing schemes. Subrata Roy saw many ups and downs in his life. The story of his reaching the floor from the throne is quite interesting.

Admit was done in Mumbai

According to the statement issued by Sahara, he was admitted to Kokilaben Dhirubhai Ambani Hospital in Mumbai on Sunday after his health deteriorated. Subrata Roy, who was suffering from various diseases including high blood pressure and diabetes for a long time, died at 10.30 pm due to a heart attack. The group said in the statement that Sahara India Parivar is deeply saddened to inform about the demise of the Managing Worker and President of our Sahara India Parivar, Honorable ‘Saharashree’ Subrata Roy Sahara. Describing him as an inspirational leader and visionary, the statement said that the loss caused by his demise will be deeply felt by the entire Sahara India family. Saharashree ji was a guiding force, a mentor and a source of inspiration to all who had the privilege of working with him.

Sahara India was established in 1978

Sahara chief Subrata Roy was born on 10 June 1948 in a Bengali family of Araria, Bihar. His father’s name was Sudhir Chandra Roy and mother’s name was Chhavi Roy. His father was the richest landowner in his area. Subrata wanted to do business from the beginning. He established a small finance company in 1978 which worked only in the finance sector. After this, Subrata Roy, with his hard work and dedication, took the company to new heights. He established the company’s reach in strong sectors like media, aviation, real estate, hospitality etc. There was a time when Sahara India became the largest employer in the private sector in India. Subrata Roy chose Lucknow, the capital of Uttar Pradesh, as the headquarters to expand his business. He established the headquarters of Sahara India Pariwar here in 1990. He was among the biggest industrialists of this decade. Because of him, there used to be a crowd of leaders and actors in Lucknow. Amitabh Bachchan, former SP leader Amar Singh and Samajwadi Party founder Mulayam Singh Yadav were considered among his close people.

Bad days of the company came after 2008

Subrata Roy’s Sahara India family had a huge business in the real estate sector. The company raised Rs 24 thousand crore from about three crore investors to invest in this sector from 2008 to 2014. Meanwhile, in the year 2009, Sahara India tried to launch an IPO to raise more money from the market. For this, application was made to SEBI and documents were submitted. SEBI found many financial irregularities while examining the documents. After this, SEBI imposed a fine of Rs 12 thousand crores. SEBI accused him of raising money from the market without IPO. After this the matter reached the Supreme Court. The court further increased the troubles of Subrata Roy. The court ruled that the company should return Rs 24,000 crore to investors by charging 15 percent interest on Rs 12,000 crore. Later, Subrata Roy was arrested in February 2014 for not obeying the Supreme Court order. After this he had to stay in jail for about two years.

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