Biography of Subrata Roy
Subrata Roy
Born: June 10, 1948, Araria, Bihar
Occupation/Designation/Founder: Founder, Managing Director, and Chairman of Sahara India Parivar
Subrata Roy, the founder as well as the Managing Director and Chairman of Sahara India Parivar, India’s most renowned industrial conglomerate. Subrata is said to be the main patron of the business and is often referred to as “Saharashree”. In the year 2012 India Today magazine included Subrata in its list of the top 10 most powerful individuals in India. He was the founder of Sahara India Parivar in 1978. In the present, the Sahara Group has expanded its reach into sectors like entertainment, housing, media, and financial services. Based on one estimation, the Sahara Group’s assets in June 2010 were estimated to be around Rs.1,09,224 crores.
Life is the first step.
Subrata Roy was born June 10, 1948, in the Araria district of Bihar. After completing his elementary education at Holy Child School, Kolkata, and completing the Diploma in Mechanical Engineering from the Government Institute of Technology, Gorakhpur and began his business in Gorakhpur in the year 1978.
Biography of Subrata Roy
Life in the professional and career fields
Roy was the founder of his company Sahara India Parivar in Gorakhpur in the year 1978. Currently, he is the Group’s Managing Director and Chairman. Sahara is an enterprise with multiple business lines in India that’s activities include financial services including housing finance mutual funds city development, life insurance real estate, newspaper and television, film production, and sports, as well as information technology. It is spread far and across. Industries like tourism, health, and consumer goods.
In the late 1990s, Subrata moved to Lucknow and the city was transformed into the capital for the Sahara India family. In Lucknow, Sahara constructed “Sahara City” on about 170 acres. The business of the group was growing and, within only a few years, Sahara made its mark in a variety of areas.
The publication of the Hindi daily newspaper ‘Rashtriya Shara was first introduced in 1992. In the latter part of 1990, the company launched its ambitious venture, Ambi Valley, near Pune. Sahara TV (later to become “Sahara One”) was first launched in 2000. In 2003 Sahara launched three newspapers a week: Sahara Time, Sahara Samay, and Sahara Alami.
Sahara Group Sahara Group also sponsors the Indian hockey and cricket teams. In the past Subrata was also the owner of an Indian team Pune Warriors India, a franchise of the Indian Premier League (IPL) however, they dropped it after the Sahara Group dropped it due to a dispute with BCCI. Subrata can also be the owner of the Formula One team “The Sahara Force India Formula One Team. In the year 2010, Sahara bought the Grosvenor House in London, and in 2012, the Plaza Hotel was situated in New York.
Subrata Roy’s Sahara Airlines was acquired by Jet Airways in 2007. The Sahara-Jet partnership has for a long time been a source of controversy as Jet had to cancel the agreement in one instance despite prior announcements. Then came discussions between the two sides that culminated in Jet being able to accept the agreement.
Roy’s Sahara Group as on June 30, 2010, had Rs. 1,09,224 crore in assets. Sahara employs about 10 lakh employees. According to Sahara, about 30 crore customers have invested in the company.
Biography of Subrata Roy
Imprisonment and arrest
On the 26th of February, 2014 The Supreme Court of India ordered the arrest of Subrata Roy for failing to appear in court for a matter of the company’s failure to repay investors’ funds. He was ultimately detained at the request of the Uttar Pradesh Police on a Supreme Court warrant on 28 February 2014 as part of an argument with the regulator of the market (SEBI). Subrata was taken into the city’s Tihar Jail on March 4 in the case.
The bail application was denied by the Supreme Court of India and the court ruled that he could get released only after he makes some of the remaining amounts of the investors. In the end, the Supreme Court granted him interim bail on the 26th of March with the condition that he deposit $10,000, however, Subrata did not deposit the required amount and is currently in prison.
Honors and Awards
Honorary Doctorate (2013, University of East London)
The Business Icon of the Year (2011, London)
Honorary Degree of D Litt (2011, Lalit Narayan Mithila University, Darbhanga)
The year 2012 saw him listed as one of the top ten most influential businessmen from India in the magazine India Today.
The name was given to “India’s second largest employer after Indian Railways” by Time magazine in 2004.
“ITA-TV Icon of the Year” (2007)
“Global Leadership Award” (2004)
“Business of the Year Award” (2002)
“Vishishta Rashtriya Udan Samman” (2010)
Biography of Subrata Roy
“Occasional Award for Excellence” (by Rotary International, 2010)
“Karmveer Samman” (1994)
“Baba-e-Rozgar Award” (1992)
“Udyama Sri” (1994)
“The National Citizen Award” (2001)
“Indian Television Academy Award” (2013).
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