We bring extensively consolidated details in this write-up about the Subrata Roy Scam, Net Worth 2023, Death, Family, Age, Wife, and Jail term.
Subrata Roy was person who started Sahara India Pariwar, a big business in the United States and India. Subrata was born in Araria, Biharon on 10th/June/1948. Sadly,he passed away on 14th/November/2023 in Mumbai,Maharashtra,due to prolonged sickness. Let’s check more about Subrata Roy Scam.
About Subrata Roy Scam:
The Securities and Exchange Board of India (SEBI) accused Sahara of raising funds without proper approvals. In 2011,SEBI directed two Sahara companies to refund the money raised from investors. Sahara argued that the bonds are not under SEBI but under the Registrar of Companies (ROC) under the Ministry of Corporate Affairs.
About Subrata Roy Wife:
Swapna Roy(wife) was a former Board Member of Sahara One Media & Entertainment. The scam involved ₹24,000 crore from three crore individuals. Sahara claimed to have paid 93% of the investors and deposited money to cover the remaining amount.
Subrata Roy in Jail:
Because Roy did not show up in court,he was held in custody at Tihar Jail for two years. Roy was released in May/2016 on parole. Since August 2012,the enforcement directorate has only refunded Rs. 64 crores to investors,despite receiving Rs. 16,000 crores from Sahara and keeping Subrata Roy in Jail. In 2014,only around 4,600 investors claimed refunds from SEBI.
Early life of Subrata Roy:
Subrata Roy was born in a Bengali Hindu family in Araria to Sudhir Chandra Roy and Chhabi Roy. Roy’s parents came from Dhaka,Bikrampur,East Bangladesh. Subrata Roy Family were wealthy landlords named Bhagyakul Zamindar.
Roy attended Holy Child Institute in Kolkata and studied mechanical engineering at Government Technical Institute,Gorakhpur. He started his first business in Gorakhpur with only ₹2,000,and Subrata Roy Net Worth 2023 is estimated to be over $10 billion.
Under his leadership,Sahara India Pariwar became one of India’s biggest companies,employing about 1.2 million people and claiming to have over 9 crore investors,about 13% of all households in the country.
About Subrata Roy Family:
Subrata Roy’s family included Sudhir Chandra Roy(Father),Late Chhabi Roy(Mother),Swapna Roy(wife),Sushanto Roy(son),and Seemanto Roy(son).
Subrata was an average student,and he met Swapna,the university topper,through a mutual friend in Kolkata. It was love at first sight for Subrata,captivated by Swapna’s (Subrata Roy Family) grace and beauty.
After confessing his feelings,Swapna responded positively,and they started dating. Despite living in different cities and meeting only once or twice a year,Subrata expressed his love through long romantic letters.
Subrata Roy Net Worth 2023:
As Subrata worked hard to establish his business,Swapna became his unwavering support. Subrata had to mortgage Swapna’s jewelry during challenging times to overcome financial difficulties. Despite the struggles,Swapna Roy remained a pillar of strength for Subrata,helping billions of dollars of net worth.
Subrata Roy Death:
Subrata Roy was 75 years,5 months,and 5 days old at the time of his death. He was admitted to the Kokilaben Hospital in Mumbai,where he passed away due to cardiac arrest. Roy will be flown to Lucknow as his remains are at the hospital after Subrata Roy Death.
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Subrata Roy denies misconduct allegations,and Sahara argues that if one government body(Income Tax Department) found investors,others should too. Though Subrata Roy Age was 75 years old,he fought legal battles. Despite double payments,Sahara continues to deposit Rs. 22,500+ crore,including interest,in the Sahara-Sebi account.
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