Subrata Roy, the pioneering founder of Sahara Group, passes away at 75: A glimpse into Roy's entrepreneurial odyssey and the obstacles

Subrata Roy, the founder of Lucknow's Sahara group, passed away at the age of 75 on Tuesday. The company stated that he died from cardiorespiratory arrest at 10:30 pm after a prolonged battle with complications related to metastatic malignancy, high blood pressure, and diabetes.

Summery Details:

• Born on June 10, 1948 in Bihar's Araria, Subrata Roy Sahara started his career as a businessman in 1976. 
• 
  
• He established the Sahara India Pariwar, and was known as Sahara Shri by the group's employees. 
• 
  
• Roy's difficulties began when Sahara became involved in a dispute with market regulator SEBI over repaying billions of dollars to investors.

Subrata Roy, the founder of Lucknow-based Sahara Group, passed away at the age of 75 on Tuesday. The company announced that he died from cardiorespiratory arrest at 10:30 pm following an extended battle with complications related to metastatic malignancy, hypertension, and diabetes.

"It is with profound sadness that Sahara India Pariwar informs the demise of Hon'ble 'Saharasri' Subrata Roy Sahara, Managing Worker and Chairman, Sahara India Pariwar," read the statement issued by 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 added further.

Born on June 10, 1948 in Bihar's Araria, Subrata Roy Sahara began his journey as businessman in 1976 with Sahara Finance, a chit fund company. He founded the Sahara India Pariwar, and the group's employees used to address him as Sahara Shri.

Roy, who wrote a well-known rags-to-riches tale in the country, later diversified his business to include finance, housing, manufacturing, aviation, and media, earning widespread recognition. His company also acquired prestigious international properties such as the Plaza Hotel in New York and the iconic Grosvenor House in London, cementing his reputation.

Under Roy's leadership, Sahara also sponsored the Indian cricket and hockey teams and owned a Formula One racing team.

However, troubles for Roy began when Sahara became embroiled in a battle with market regulator SEBI over repaying billions of dollars to investors who put their money in a bond scheme that was later ruled to be illegal.

Roy was arrested in March 2014 for failing to attend a contempt of court hearing and was on bail since 2016. He had denied any wrongdoing.

Sahara and Roy had been in the spotlight in 2020 after they got a district court to stall the release of Netflix's series "Bad Boy Billionaires" featuring Roy, among others, claiming it would damage his reputation.