The Rise and Fall  of  Sahara Shree  Subrata Roy

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

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

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

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

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

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

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

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.

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

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