Sahara Group chief Subrata Roy passed away at the age of 75 after a long illness- CMB College

Sahara Group chief Subrata Roy passed away at the age of 75 after a long illness

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The Sahara India family released a statement- ,It is with great sadness that the Sahara India family has to inform that our Managing Worker and Chairman ‘Saharashree’ Subrata Roy Sahara has passed away. Saharashreeji was an inspiring and visionary personality. He died of cardiorespiratory arrest on 14 November 2023 at 10.30 pm after a long battle with metabolic malignancy, high blood pressure and diabetes. After his health deteriorated, he was admitted to the Kokilaben Dhirubhai Ambani Hospital and Medical Research Institute (KDAH) on 12 November 2023.

His loss will be deeply felt by the entire Sahara India family. Saharashree Ji was a guiding force, mentor and source of inspiration to all who had the privilege of working with him.

Funeral details will be communicated in due course.

The Sahara India family is committed to upholding the legacy of Saharashri. We will continue to honor his vision in moving our organization forward.”

Born in Araria, Bihar, started business in Gorakhpur
Subrata Roy was born on June 10, 1948 in Araria district of Bihar. After completing his initial studies in Kolkata, he studied mechanical engineering from a government college in Gorakhpur. Subrat Roy started his first business from Gorakhpur itself.

A case was going on in Patna High Court against Subroto Roy
A case is pending in the Patna High Court against Sahara India for not paying people’s money for many years. People invested this money in many schemes of the company, but later Sahasree got a big relief from the Supreme Court in this matter. Last year, the Supreme Court immediately stayed the arrest order of the Patna High Court.

The Supreme Court gave this order
The court ordered that status quo be maintained on any further proceedings against Subroto Roy. Subroto Roy was out on bail in the case. At the same time, Sahara India claimed to have deposited the amount with SEBI to return the money to the investors.

In fact, on March 29 this year, the central government had said that 10 crore investors of four cooperative societies in Sahara would be refunded within 9 months. Then the Supreme Court from the refund account of Sahara-Sebi Rs. 5 thousand crores was asked to be transferred to the account of the Central Registrar and to distribute this money among the depositors of the Sahara Group of Cooperative Societies. Under this order, Ministry of Cooperation launched Sahara Refund Portal.

Akhilesh Yadav condoled his demise
Samajwadi Party and its National President Akhilesh Yadav have condoled the demise of Subroto Roy Sahara. Wrote on Samajwadi Party

What did Akhilesh Yadav say?
Akhilesh Yadav said that the death of Mr. Subrat Roy ji is an emotional loss for Uttar Pradesh and the country as he was a very successful businessman as well as a very sensitive person with a big heart who helped and supported countless people. A heartfelt tribute!

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