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Subrata Roy, the visionary behind Sahara Group, has passed away at the age of 75 following an extended period of illness.

Subrata Roy, the founder of Sahara India Pariwar, breathed his last on Wednesday, November 14, at the age of 75. In an official statement, the Sahara Group expressed, "Saharasri ji, an inspiring leader and visionary, passed away on November 14, 2023, at 10:30 pm due to cardiorespiratory arrest after a prolonged struggle with complications arising from metastatic malignancy, hypertension, and diabetes. He was admitted to Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH) on November 12, 2023, following a deterioration in health."

Born on June 10, 1948, in Araria, Bihar, Roy emerged as a significant presence in the Indian business scene, creating an expansive empire that extended across diverse sectors such as finance, real estate, media, and hospitality.

Subrata Roy

Commencing his path with a mechanical engineering education at the Government Technical Institute in Gorakhpur, Roy initiated his business endeavors in Gorakhpur. In 1976, he assumed control of Sahara Finance, a struggling chit fund company. Remarkably, by 1978, he had successfully revitalized it into Sahara India Pariwar, evolving it into one of India's most expansive conglomerates.

Guided by Roy's leadership, Sahara diversified its portfolio across various industries. In 1992, the group introduced the Hindi language newspaper Rashtriya Sahara, embarked on the ambitious Aamby Valley City project near Pune in the late 1990s, and entered the television realm with Sahara TV, subsequently rebranded as Sahara One. During the 2000s, Sahara garnered international attention through notable acquisitions, including London's Grosvenor House Hotel and New York City's Plaza Hotel.

Time magazine once recognized Sahara India Pariwar as the second-largest employer in India, trailing only Indian Railways, boasting a workforce of approximately 1.2 million individuals. The group asserted a substantial investor base of over 9 crores, representing a significant segment of Indian households.

However, alongside his business triumphs, Roy confronted legal hurdles. In 2014, the Supreme Court of India ordered his detention for non-compliance with a court summons related to a dispute with the Securities and Exchange Board of India (SEBI). This initiated a protracted legal battle, during which Roy spent time in Tihar Jail before eventually being released on parole. The dispute revolved around SEBI's insistence on Sahara refunding billions to investors, leading the Supreme Court to establish a "Sahara-Sebi refund account" for this purpose.

Despite these legal challenges, Roy's impact on the business landscape remained notable. He received various awards and accolades, including an honorary doctorate in business leadership from the University of East London and the Business Icon of the Year award at the Powerbrands Hall of Fame Awards in London. Regularly featured in the India Today list of the country's most influential figures, Roy's legacy extended beyond his legal battles.

Subrata Roy, the pioneering force behind Sahara India Pariwar, left an indelible mark on India's business landscape. Born on June 10, 1948, in Araria, Bihar, Roy's journey began with a mechanical engineering education at the Government Technical Institute in Gorakhpur. It was there that he initiated his business ventures before taking the reins of Sahara Finance in 1976. Transforming the struggling chit fund company into Sahara India Pariwar by 1978, Roy navigated the conglomerate to unprecedented heights. Time magazine once hailed Sahara India Pariwar as the second-largest employer in India, and despite legal challenges in 2014, including a stint in Tihar Jail, Roy's contributions were recognized with awards such as an honorary doctorate from the University of East London and the Business Icon of the Year at the Powerbrands Hall of Fame Awards in London. His later years saw ventures like Sahara Evols and plans for Edunguru in the online education sector, marking Subrata Roy as a visionary leader with an enduring impact.

In his later years, Roy directed his focus towards the future with endeavors like Sahara Evols, offering a range of electric vehicles, and plans to venture into the online education sector with Edunguru, targeting small towns and villages.


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