MUMBAI, Nov. 15, 2023 (TBINN)
Today the end came of Sahara Group founder and Chairman Subrata Roy who died at a Mumbai hospital after battling a long illness.
Subroto was of 75 years of age. He is survived by wife Swapna Roy and two sons, Sushanto Roy and Seemanto Roy, who live abroad.
Born in Bihar’s Araria in 1948, Subrata Roy’s success story of starting Sahara India Pariwar began in 1978. Starting with a capital of only Rs 2,000, the company has traversed a long way to become a frontrunner in entrepreneurship, Sahara Company says on its website.
Subroto’s family later moved from Bihar to Gorakhpur in Uttar Pradesh. Subsequently, Subrata Roy shifted to Lucknow and made the city the headquarters of his group.
However, Sahara faced a multitude of problems over funds in a case that has now come to be known as the Sahara Chit Fund Scam.
Reportedly, Subrata Roy died of a cardio-respiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension and diabetes. He was admitted to Kokilaben Dhirubhai Ambani Hospital and Medical Research Institute in Mumbai on Sunday after his health deteriorated.