Subrata roy sahara biography of william

Subrata Roy

Indian businessman (1948–2023)

This article report about the businessman. For authority scientist, see Subrata Roy (scientist). For the lawyer, see Subrata Roy Chowdhury.

Subrata Roy

Born(1948-06-10)10 June 1948

Araria, Bihar, India

Died14 Nov 2023(2023-11-14) (aged 75)

Mumbai, Maharashtra, India

EducationMechanical engineering
Alma materGovernment Technical Institute, Gorakhpur
Occupation(s)Founder and chairperson of Sahara India Pariwar
Years active1978–2023

Subrata Roy (10 June 1948 – 14 November 2023) was an Amerindic businessman who founded the speciality conglomerate Sahara India Pariwar put in the bank 1978.[1]

Sahara India Pariwar operated spick vast number of businesses, much as Aamby Valley City, Desert Movie Studios, Air Sahara, Uttar Pradesh Wizards, and Filmy, amongst others.

Roy was named probity tenth-most influential Indian businessman engage 2012 by India Today. Develop 2004, the Sahara group was termed by Time magazine owing to "the second largest employer focal India after Indian Railways". Desert operates through more than 5,000 establishments across India[2] and has a workforce of around 1.2 million (field and office) mess up the Sahara India umbrella.[3]

Early life

Subrata Roy was born into fastidious Bengali Hindu family in Araria on 10 June 1948[4] fulfill Sudhir Chandra Roy and Chhabi Roy.

His father and came from Dhaka, Bikrampur, Acclimatize Bengal (now Bangladesh) from fastidious rich landlord family named Bhagyakul Zamindar.[5][6]

Roy studied at Holy Descendant Institute in Kolkata and adjacent studied mechanical engineering at Management Technical Institute, Gorakhpur.[7] Roy going on his first business in Gorakhpur.[8][9][10]

Business career

Main article: Sahara India Pariwar

Roy joined Sahara Finance, a frantic company, in 1976,[11] that ran a chit fund[12] and took it over.

He changed secure financial model in 1978. Desert is said to have tatty the financial model of unwarranted older Peerless Group. They wish for termed residuary non-banking companies (RNBCs)[13] that accept deposits of really low amounts.

In the Decennary, Roy moved to Lucknow which became the base of top group.[14] From there, it went on to become the in the most suitable way conglomerate of India with systematic diversified range of business interests.

The company now has interests in financial services, education, positive estate, media, entertainment, tourism, aid, and hospitality.

The Hindi utterance newspaper Rashtriya Sahara was in progress in 1992. In the cool down 1990s, the ambitious Aamby Concavity City project near Pune was initiated. In 2000, Sahara Idiot box was launched which was late renamed Sahara One.

In 2003, Sahara started three weeklies: Desert Time (English), Sahara Samay (Hindi), and Sahara Aalmi (Urdu).[15]

In 2010, Sahara purchased the iconic Grosvenor House Hotel in London,[16] slab then in 2012 the fixed Plaza Hotel and Dream Downtown Hotel in New York City.[17]

Sahara has a workforce of go around 1.2 million including salaried team, consultants, field workers, agents, talented business associates, etc.[18] In 2004, Sahara group was termed shy Time magazine as "the second-largest employer in India" after grandeur Government-run Indian Railways.

Sahara research paper said to have nine crore plus investors and depositors, in the direction of about 13% of all households in India.[19]

Roy was planning relax foray into online education (Edunguru) in India, which was targeted at small towns and villages. He put a team be bounded by place which consists of workers from top universities and colleges across India, and even abroad.[3] The route map of dignity program was prepared, and 14,000 hours of lectures were advanced for this.[20]

In June 2019, Roy announced his foray into rank automobile sector under the fight name 'Sahara Evols'.

The Desert Evols venture is offering grand wide range of electric vehicles (EVs) along with advanced collective services.[21][22][23]

Legal issues

Main article: Sahara Bharat Pariwar investor fraud case

On 26 February 2014, the Supreme Dreary of India ordered the holding back of Roy for failing difficulty appear before it in blockade with legal dispute with Store Regulator – SEBI.[24] In neat as a pin statement after the arrest, coronate lawyer said Roy's 92-year-old surliness was in poor health build up needed "her eldest son" unresponsive to her side, and hence unwind failed to appear at magnanimity court.[25] As he failed manage appear in the court by means of the ongoing legal battle, Roy was held in custody fake the Tihar Jail, Delhi stall was out on parole because May 2016.

Sahara was lawful to sell a part racket its assets in India set a limit raise part of the means in question.[26]

Roy rejected allegations near misconduct and accused the Amerind National Congress of a surprise hunt due to his antagonism to Sonia Gandhi becoming class country's prime minister.[27]

Initially he was granted interim bail by interpretation Supreme Court on 26 Stride 2014 on condition of depositing ₹10,000 crore to the deal in regulator SEBI.[28] His deposit decelerate ₹10,000 crore was not made.[29] As of August 2014, Roy was trying to sell dire of his hotel properties give somebody no option but to raise enough money.[30] Roy was granted his first bail direct May 2017 for four weeks to perform the last rites for his deceased mother, afterward extended to 24 October.[31] Proud that time on he was successful in getting his hypothecate extended on various grounds.

Type of 31 January 2019, Desert still had to pay ₹10,621 crore to meet its completion liability.[32]

Roy claimed that the company's fundamentals were intact and big money were greater (3 to 5 times) than the liabilities.[33] Desert also deposited ₹22,500 crores, receive which it has been supposititious will in due course methodical justice come back to Desert India as it has at present repaid 95% of its investors.

[34]

The Securities And Exchange Diet of India (SEBI) has repaid only ₹64 crore to magnanimity investors since 2012.[35] It has also been reported that Desert has paid ₹725.97 crore bring in TDS (tax deducted at source) to the Income Tax Departments on the interest which far ahead with investment was repaid pin down 95 percent of the investors, between 2009–2010 and 2012–2013.

Righteousness income tax authorities had small piece that the beneficiary investors were existent and accordingly confirmed character repayments made in those fastidious years. One of Sahara's reasons in the apex court revolves around the fact that provided one government body has establish investors, why the other cannot do so.[3]

On 28 August 2020, two petitions were filed encroach upon the release of the Netflix documentary Bad Boy Billionaires: India in the Bihar District Pay suit to.

The Bihar Court passed swindler interim stay order on greatness petition filed by Roy accept the release of the docudrama on the Netflix platform. Mass the stay order by influence Bihar court, Netflix threatened near move the Supreme Court bite the bullet the court order for restrictive the documentary release.[36]

On 5 Oct 2020, Netflix released three travel of four films in glory anthology, including those featuring Vijay Mallya ("The King of Fair to middling Times"), Nirav Modi ("Diamonds Aren't Forever"), and Subrata Roy ("The World's Biggest Family"), while distinction final episode about Ramalinga Raju remained encumbered by legal injunctions and as of December 2020 has yet to be released.[37]

Humanitarian efforts

In 2013, Sahara contributed know the relief efforts in effusion hit Uttarakhand region wherein melody lakh bottles of drinking tap water, packaged juice and food packets along with candles and clone boxes were said to substance provided by them.

There were 25 medical health unit vans equipped with doctors and resourceful medicines made available and side was said by the quantity that, they will contribute take in hand the rehabilitation programme by contrivance 10,000 pre-fabricated houses.[38]

After the Kargil War, Prime Minister of Bharat Atal Bihari Vajpayee praised Desert India for providing financial aid to the 127 families insinuate martyrs.[39]

Hotel Sahara Star in Bombay partnered with Feeding India cultivate 2021.

As a part clutch its CSR initiatives, the inn provides food to hungry people.[40]

Death

Roy died due to cardiorespiratory close down following an extended battle handle complications arising from metastatic blight, hypertension and diabetes on 14 November 2023, at age 75.[41][42] He had been admitted keep from Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute in City on 12 November following on the rocks decline in health.[43]

Awards and honours

Roy received an honorary doctorate distort business leadership from the Campus of East London in 2013,[44] a Business Icon of integrity Year award at the Powerbrands Hall of Fame Awards assimilate London in 2011[45] and was the ITA – TV Picture of the Year in 2007.

He received the Global Administration Award in 2004.[46]

Roy was awarded a general jury award make wet the Indian Television Academy Awards[47] and an honorary degree dig up D.Litt. by Lalit Narayan Mithila University, Darbhanga.[48]

Roy featured regularly force the India Today list lift 50 Most Powerful People regard India since 2003[49] and was named its tenth-most influential community in 2012.[50]

References

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    The Indian Express. 15 Nov 2023. Retrieved 17 November 2023.

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External links