Subrata Roy, the founder of Sahara group, died on Tuesday following a cardiorespiratory arrest at Mumbai’s Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute (KDAH). He was 75.

Born in Bihar’s Araria in 1948, Roy’s name was synonymous with both entrepreneurial brilliance and financial controversy. He left an indelible mark on India’s business landscape.

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Roy began his journey with a mechanical engineering degree from the Government Technical Institute in Gorakhpur.

In 1978, Roy established Sahara India Pariwar, initially venturing into the transport and courier sector. With a keen eye for expansion, he swiftly ventured into diverse fields, including finance, aviation, media, and infrastructure.

Sahara India Pariwar’s growth was remarkable, becoming one of India’s largest conglomerates, employing over 1.2 million individuals.

Roy’s achievements were not without recognition. In 2012 he became one of India’s 10 most powerful people. The Time magazine also hailed his Sahara group as India’s second-largest employer after Indian Railways.

His journey, however, was also marred with controversies. Roy found himself embroiled in controversies after the SEBI in 2008 alleged that his Sahara India Pariwar illegally raised funds from investors.

This led to his arrest in 2014, confining him to jail for several years. Despite efforts to secure bail, Roy remained behind bars until his release on parole in 2016.

On November 14, Subrata Roy breathed his last, leaving behind a legacy of entrepreneurial triumphs. His body will be brought to Lucknow where last rites will be performed.

According to a statement from the Sahara India Pariwar, Roy was suffering from metastatic malignancy, hypertension, and diabetes.

“It is with profound sadness that Sahara India Pariwar informs the demise of our Hon’ble ‘Saharasri’ Subrata Roy Sahara. Saharasri ji an inspirational leader and visionary, passed away on 14th November 2023 at 10.30 pm due to cardiorespiratory arrest following an extended battle with complications arising from metastatic malignancy, hypertension, and diabetes,” the statement read.

“His loss will be deeply felt by the entire Sahara India Pariwar. Saharasri ji was a guiding force, a mentor, and a source of inspiration for all who had the privilege to work alongside him,” it said.

The group further said that it will uphold his legacy and continue to honour his vision in driving the Sahara India Pariwar. His last rites will be held in Lucknow.