Subrata Roy, Sahara Group Chairman, passes away

Subrata Roy, Founder and Chairman of Sahara India Group, passed away late on Tuesday (November 14, 2023) in Mumbai. He was 75. Roy, who had been ailing for some time now, passed away due to a cardiorespiratory arrest, as per media reports.

A statement issued by Sahara India Group said that Roy was admitted to the Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute in Mumbai on Sunday, November 12, 2023, after his health deteriorated.

Popularly referred to as Saharasri, Roy founded Sahara India in 1978 and over the years turned it into a major business conglomerate in India, with diversified business interests, including financial services, housing finance, mutual funds, life insurance, City development, real estate activities, print and television media, film production, power, information technology, health care, tourism, hospitality, Sports and Consumer Merchandise Retail Products.

Born on June 10, 1948, in Bihar’s Araria, Roy started Sahara India with a capital of just Rs 2,000. In the 1990s, Roy shifted to Lucknow and set up the headquarters of Sahara India Group in UP’s capital.

In the statement issued, the company said, “His loss will be deeply felt by the entire Sahara India Pariwar. Saharasri ji was a guiding force, a mentor, and a source of inspiration for all who had the privilege to work alongside him.”

Though Roy faced legal challenges, his contribution to India’s business landscape as well as the media and entertainment industry has been substantial.