Sahara Group chief Subrata Roy died due to a cardiorespiratory arrest at a private hospital in Mumbai on Tuesday after a prolonged illness, according to a company statement. He was 75.
He is survived by his wife Swapna Roy and two sons, Sushanto Roy and Seemanto Roy, who live abroad
Having created a huge business empire across retail, real estate, and financial services sectors, Roy was at the centre of a huge controversy and faced multiple regulatory and legal battles in connection with his group firms that were accused of circumventing regulations with Ponzi schemes, allegations his group always denied.
According to the company statement, he was admitted to the Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute in Mumbai on Sunday after his health deteriorated.
