Subrata Roy, the esteemed founder of Sahara India Pariwar, passed away on November 14, 2023, at the age of 75, due to a cardiorespiratory arrest after battling multiple health issues. Roy, born on June 10, 1948, in Bihar, was a significant figure in India’s business world, having built a diverse empire in finance, real estate, media, and hospitality.
Roy’s business career took off after he took charge of Sahara Finance, a small chit fund company, in 1976, transforming it into the sprawling Sahara India Pariwar. The group ventured into various sectors, launching the Rashtriya Sahara newspaper in 1992, developing Aamby Valley City, and entering television with Sahara TV. Internationally, Sahara was known for acquiring the luxurious Grosvenor House Hotel in London and New York City’s Plaza Hotel.
At its peak, Sahara India Pariwar was one of India’s largest employers and had a significant investor base. However, Roy’s journey was not without controversy. In 2014, he was detained by the Supreme Court of India over a financial dispute with SEBI, leading to a prolonged legal battle.
Despite these challenges, Roy’s impact on the business landscape was significant, earning him numerous accolades, including an honorary doctorate and the Business Icon of the Year award. In his later years, he focused on innovative ventures like electric vehicles and online education, targeting rural areas. His passing marks the end of an era in Indian entrepreneurship.