Rise and Downfall of a Business Magnate
Born into an affluent land-owning family in Bihar in 1948, Roy’s life took a tumultuous turn after the demise of his father. Despite facing financial hardships, his entrepreneurial acumen became evident. When he took charge of a struggling finance company, Sahara, in his twenties. He redefined its financial model, propelling it to unprecedented success. What started with the meagre capital burgeoned into one of India’s largest conglomerates by the 1990s. It employs over a million people across various sectors.
The Glorious Heights and Controversies
While the Sahara Group soared to remarkable heights under Roy’s leadership, criticism arose regarding his autocratic management style and the firm’s alleged exploitation of investors. The group’s association with prestigious entities like the Indian cricket team, Formula One racing, and iconic international properties added to Roy’s larger-than-life image.
Legal Troubles and Personal Life
However, the glory was tarnished as Sahara faced legal battles. Accusations of fraudulent practices led to investigations by India’s Securities and Exchange Board, culminating in Roy’s arrest in 2014. He spent over two years in jail before being released on bail in 2016. Despite maintaining a lower profile afterwards, Roy made headlines again in 2020 due to his appearance in a Netflix series that explored the downfall of successful Indian business figures.
Sahara’s Media Empire and Sports Ventures
Sahara’s media arm once operated multiple Hindi channels and had a stake in Bollywood productions. Additionally, the group ventured into sports by owning the Pune Warriors India franchise in the Indian Premier League and sponsoring India’s national cricket team, although these associations eventually dissolved.
Remembering a Controversial Figure
Following Roy’s passing, numerous notable figures, including veteran actor Amitabh Bachchan, expressed their condolences, marking the end of a complex and controversial chapter in Indian corporate history.
Our deepest sympathies and heartfelt condolences go out to his family and loved ones for this irreplaceable loss. May he rest in peace.
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