About two months ago he had gone to Mumbai for treatment. He is survived by his wife Swapna Rai and two sons Sushanto and Seemanto. All three have been abroad for many years.
Sahara Shri Subrata Roy neither his son nor his wife were with him in his last moments
About a decade ago, the downfall of Sahara Group, which was the largest employer after Railways, started with the dispute with SEBI. SEBI had objected to the illegal transfer of investors’ money deposited in two Sahara companies to other companies and had ordered the deposit of about Rs 24 thousand crores. Later the matter reached the Supreme Court. The court, using its prerogative, kept Subrata Roy in jail for several months. The sale of Sahara Group’s assets was banned.
Sahara was also ordered to deposit the amount received from the properties sold on the court’s order with SEBI. Sahara paid a major part of the total deposited amount to SEBI in some installments, but could not deposit the entire amount. Meanwhile, hundreds of cases were registered against Sahara Group companies and its directors in many states and the police kept raiding many places including Lucknow in search of Subrata Roy and other directors. However, Sahara Group got some relief when the Central Government started a portal to refund the money of Sahara investors. Sahara Group currently owns properties in several cities of the country which are claimed to be worth more than Rs 2 lakh crore.
