Subrata Roy Controversial Life: The Dark and Controversial Chapters of Life

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Subrata Roy controversial life : Subrata Roy is an Indian businessman and the controversial founder of the Sahara India Pariwar, which is a conglomerate encompassing numerous businesses. Roy and his conglomerate were one of the 11 big Indian business houses (as identified by the LIC’s “Exposure to Top 11 Business Houses”) that had non-performing assets (NPAs) of 96,500 crores (US$13 billion) in the Indian banking system. Sahara India Pariwar owes over $4.5 billion (33,750 crore) in fines and interest to regulators and investors after failing to repay money deposited by thousands of small investors. Most of the conglomerate’s businesses and assets have been frozen by Indian authorities, and Roy has also spent time in jail during the ongoing legal drama. While Roy and his supporters maintain that the Sahara India Pariwar has repaid 95% of investor money, he remains widely disliked in India and seen by many as a symbol of corruption and corporate greed.

Early life and business career

Subrata Roy controversial life: Roy was born in Kolkata, India, in 1948. He holds a bachelor’s degree from the renowned St. Xavier’s College in Kolkata and a master’s degree from the equally reputed Patna University. He pursued a professional career as a chartered accountant before entering the world of business.

Subrata Roy controversial life: In the early 1980s, Roy established his own company, Sahara India Pariwar, which gradually evolved into a business conglomerate with ventures in areas such as financial services, infrastructure, media, and entertainment. The group made significant gains in the real estate sector. Some of the notable acquisitions of Sahara India Pariwar include the iconic Ambassador Hotel in New York City and the Grosvenor House hotel in London, also known as the venue for the annual Indo-US CEO Forum.

Subrata Roy controversial life: At its peak, Sahara India Pariwar was one of the largest business groups in India, with an estimated net worth of $22 billion. However, Roy’s downfall began in 2008, when the Central Bureau of Investigation (CBI) of India filed charges of bribery and corruption against him in relation to the allocation of 2G spectrum.

Sahara India Pariwar’s financial troubles

Subrata Roy controversial life: In 2012, the Supreme Court of India ordered Sahara India Pariwar to refund nearly $6 billion to investors who had invested in its controversial “optionally convertible debentures” (OCDs). The court also ordered the group to deposit $5 billion in cash with the market regulator, the Securities and Exchange Board of India (SEBI), as part of a compliance exercise.

Roy failed to comply with the Supreme Court’s orders, leading to his imprisonment in 2014. He was released on parole in 2016 after he paid up $1 billion of the $5 billion bond.

Subrata Roy controversial life: In 2018, the Supreme Court ordered Sahara India Pariwar to sell its overseas assets to repay investor money. The group has since sold a number of its overseas assets, including the Grosvenor House hotel in London, for $627 million.

Despite the sale of overseas assets, Sahara India Pariwar remains in serious financial trouble. The group owes over $4.5 billion (₹31,000 crore) in fines and interest to regulators and investors.

Roy’s personal life and net worth

Roy is married and has two children. He lives in a luxurious mansion in Lucknow, India.

Roy’s net worth is estimated to be $1 billion.

Subrata Roy controversial life

Roy has been a controversial figure throughout his career. He has been accused of bribery, corruption, money laundering, and tax evasion. He has also been criticized for his lavish lifestyle and his use of corporate funds to finance his personal interests.

In 2013, Roy was arrested by the CBI on charges of bribery and corruption in relation to the allocation of 2G spectrum. He was released on bail after spending nearly two weeks in jail.

In 2014, Roy was ordered by the Supreme Court of India to refund nearly $6 billion to investors who had invested in Sahara India Pariwar’s “optionally convertible debentures” (OCDs). Roy failed to comply with the court’s orders, leading to his imprisonment in 2014.

In 2016, Roy was released on parole after he paid up $1 billion of the $5 billion bond.

In 2018, the Supreme Court of India ordered Sahara India Pariwar to sell its overseas assets to repay investor money. The group has since sold a number of its overseas assets, including the Grosvenor House hotel in London, for $627 million.

FAQs about Subrata Roy controversial life

Q 1. Why is Subrata Roy a controversial figure in India?

Answer: Subrata Roy is considered controversial due to allegations of bribery, corruption, money laundering, and tax evasion throughout his career. Additionally, his conglomerate, Sahara India Pariwar, faced legal issues, with the Supreme Court ordering substantial refunds to investors and freezing many of the group’s assets.


Q 2. What led to Subrata Roy’s imprisonment in 2014?

Answer: In 2012, the Supreme Court of India ordered Sahara India Pariwar, led by Subrata Roy, to refund nearly $6 billion to investors. Roy’s failure to comply with this order led to his imprisonment in 2014. He was released on parole in 2016 after paying a portion of the required bond.


Q 3. How did Sahara India Pariwar’s financial troubles escalate?

Answer: Sahara India Pariwar faced financial troubles when, in 2012, the Supreme Court mandated the refund of nearly $6 billion to investors. Roy’s non-compliance resulted in legal actions, and the group struggled to meet the court’s orders, eventually leading to the sale of overseas assets, including the Grosvenor House hotel in London.


Q. 4. What is the current financial situation of Sahara India Pariwar?

Answer: Despite selling overseas assets, Sahara India Pariwar remains in serious financial trouble, owing over $4.5 billion (₹31,000 crore) in fines and interest to regulators and investors. The group’s founder, Subrata Roy, spent time in jail, and many of its businesses and assets have been frozen by Indian authorities.


Q 5. How has Subrata Roy’s personal life contributed to his public image?

Answer: Subrata Roy’s personal life has added to his controversial image. Despite legal and financial troubles, he has been criticized for a lavish lifestyle, including a luxurious mansion in Lucknow, India. Accusations of using corporate funds for personal interests have fueled public discontent, making him widely disliked in India.

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