Subrata Roy was an Indian businessman and the founder and chairman of the Sahara India Pariwar.
Early Life and Career: He started his business career in Gorakhpur and later moved to Lucknow. He founded Sahara India Pariwar, which became a significant conglomerate with interests in finance, real estate, media, and hospitality.
Sahara India Pariwar: Under Roy's leadership, Sahara India Pariwar grew to encompass various ventures, including Aamby Valley City, Sahara Movie Studios, and Air Sahara (later Jet Lite). The group also made significant investments in sports, including sponsoring the Indian cricket team.
Legal Issues and Controversies: Roy and Sahara India Pariwar faced significant legal challenges, primarily related to financial irregularities and allegations of not repaying investors. The Securities%20and%20Exchange%20Board%20of%20India (SEBI) was heavily involved in investigating and pursuing action against the group.
Imprisonment: Subrata Roy was imprisoned in 2014 after failing to comply with court orders related to the repayment of investors. He was granted parole on several occasions but remained entangled in legal proceedings for years.
Death: Subrata Roy died on November 14, 2023, at the age of 75, due to cardio-respiratory arrest after an extended illness.
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