Subrata Roy, the founder and chief of Sahara Group, passed away at the age of 75 in Mumbai’s Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute on November 14, 2023. According to a statement released by Sahara India, Roy’s death was due to cardiorespiratory arrest after a prolonged battle with health issues, including metastatic malignancy, hypertension, and diabetes.
Subrata Roy, an alumnus of the Government Technical Institute in Gorakhpur with a degree in mechanical engineering, embarked on his business journey in Gorakhpur. His major business breakthrough came in 1976 when he took over Sahara Finance, transforming it into Sahara India Pariwar by 1978. Under his leadership, the conglomerate diversified into various sectors, including media, with the launch of Rashtriya Sahara in 1992 and Sahara TV, later renamed Sahara One.
Starting with a mere capital of Rs 2000 in 1978, Roy expanded Sahara India into a massive empire, claiming on its website to have 9 crore investors and customers, a net worth of Rs 259,900 crore, 5,000 establishments, and a land bank of 30,970 acres. Roy’s business ventures included owning an airline, a Formula One team, an IPL cricket team, and luxury hotels in London and New York. However, his airline, Air Sahara, was eventually sold to Jet Airways.
Legal challenges marred Subrata Roy’s later years. In a statement, Sahara India Pariwar announced with profound sorrow that its esteemed founder, Saharasri ji, succumbed to a cardiorespiratory arrest at 10:30 pm on November 14, 2023. Before his passing, he was under medical care at Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute, where he was admitted on November 12, 2023, due to deteriorating health conditions. His passing marks the end of a significant chapter in the Indian business landscape.
