The Rise and Fall of "Sahara Shree" Subrata Roy

The Rise and Fall of Sahara Shree Subrata Roy

Subrata Roy was a businessman who founded Sahara India Parivar in 1978

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Born into a Hindu family of Araria in Bihar in 1948, Subrata Roy did his schooling and higher education from Bengal and Gorakhpur

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Roy first joined Sahara Finance a dying financial company in 1976 and ran a chit fund to make it profitable and then took over it

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Roy later diversified Sahara into airlines, construction, hospitality, tourism, real estate, healthcare etc.

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Once having a 1.2 million workforce, Sahara was named as india's second largest employer by Time Magazine

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Sahara India Parivar claimed to have over 9 crore investors and depositors which is 13 percent of total households in India

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Sahara entered into a legal dispute with Market regulator SEBI leading to his detention

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Sahara has deposited Rs.25000 crore to SEBI for refund to the account investors and the groups claims that it has already refunded 95 percent of its depositors.

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Subrata Roy breathed his last at a hospital in Mumbai on November 14 this year after prolonged illness

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