Subrata Roy , the embattled head of Sahara, once one of the country’s largest conglomerates, died on Tuesday, his company said in a statement. He was 75. Subrata Roy : The man who built an empire – until it fell apart From a chit fund business that he started in Gorakhpur in 1978, Roy spread his footprint to aviation, real estate, media, film production, manufacturing and retail trade. The story of a spectacular rise and a sensational fall Mumbai: Subrata Roy , the founder of Sahara India Group, passed away on Tuesday due to cardiorespiratory arrest, said the business group in a statement. He was 75 years old. The story of Subrata Roy unfolds like an urban legend turned cautionary tale. Beginning with a loan of Rs 2,000 in 1978, he developed a financial empire with contributions ranging from Rs 10 to Rs 20. As it grew to tens of thousands of crores, legal challenges arose. Growing up in India, it’s impossible to be unaware of the famous name Subrata Roy and his infamous story. His story would be difficult to accept if told as a fictional film. He has gone from ‘saviour of the masses,’ a ...
