00:00 In news just in, Subrata Roy, the founder and chairman of the Sahara Group, has passed away.
00:06 His demise came around this evening on Tuesday, November 14th. He was 75 years old and his
00:16 demise occurred at the Kokiabin Dhirubhai Amani Hospital and Medical Research Institute in Mumbai,
00:22 where he had been admitted earlier due to a decline in health. The Sahara India Parivar,
00:27 in a statement, announced the sad news attributing the cause of death to cardiorespiratory arrest,
00:33 following a prolonged battle with complications arising from metastatic malignancy, hypertension
00:41 and diabetes. Sahara Parivar, abhi abhi khobar aar rahi hai, ye unke chairman Sahara Shri Subrata
00:49 Roy ka anidhan ho gaya hai. Subrata Roy, obviously, has made headlines due to the controversies that
00:56 erupted because of Sahara and the chit fund that the company ran and now we are learning that
01:08 Subrata Roy has passed away. Subrata Roy was born on June 10th in 1948 in Araria, Bihar,
01:16 and he embarked on a journey that saw him establish an extensive empire spanning
01:22 real estate, finance, media and hospitality. After completing his degree in mechanical engineering
01:29 from Government Technical Institute in Gorakhpur, he ventured into business in the same city.
01:34 In 1976, Roy took over Sahara Finance, transforming it into Sahara India Parivar by 1978. Remember,
01:42 it was a time when television had just made a foray into India. Not many people had the access
01:50 at that time, but Sahara Shri, with that vision, was one of the pioneers as far as the television
01:56 broadcast was concerned in India. Sahara News Channel came into being and so did
02:02 the conglomerate of several companies and Subrata Roy very quickly in the early 80s rose to the
02:12 helm of affairs. Roy's business acumen extended into the media sector with the launch of Rashtriya
02:18 Sahara, a Hindi language newspaper in 1992. Later, the Sahara group entered the television
02:24 space with Sahara TV, later rebranded as Sahara One. His leadership and vision played a pivotal
02:30 role, as many say, in the group's growth and success. So, in this part of the country, in
02:37 Noida NCR, Sahara News established its headquarters. Until date, here in Noida,
02:45 we have that office of Sahara News Channel. And needless to say, a name that definitely
02:54 hogged the headlines in the mid of 2000 due to all the controversies. But nonetheless,
03:02 I mean, for many, Sahara Group became the sole reason for them to rise to the ranks and do well
03:15 in whichever sector they were in. Sahara obviously had lots of companies that were operating under
03:22 the umbrella leadership of Sahara, Subrata Roy, and that was something that many would still
03:30 remember. And with the sad demise of Sahara Shri Subrata Roy, obviously it's an end of era,
03:39 as many would agree. Subrata Roy's life wasn't without challenges. In 2014, the Supreme Court
03:45 of India ordered his detention for failing to appear in court in connection with the dispute
03:51 with the Securities and Exchange Board of India, SEBI. This led to a protracted legal battle,
03:57 resulting in Roy spending time in Tehar jail in New Delhi. Eventually, he was released on parole.
04:04 And despite the legal challenges, Roy remained an influential figure in the business world.
04:10 The Sahara Group, under his guidance, became a prominent player in various sectors. And in 2004,
04:16 he earned the distinction of being termed by Time Magazine as the second largest employer in India
04:24 with a workforce of 1.2 million. And the announcement of Subrata Roy's passing prompted
04:32 condolences also from various quarters. The Samajwadi Party expressed its sorrow on social
04:40 media, offering heartfelt tributes to the departed businessman. Subrata Roy is survived by his wife,
04:46 son, and brother. The Sahara Group statement on Roy's demise reflected on his role as a guiding
04:54 force, mentor, and source of inspiration for all within the Sahara India Parivar. His death marks
05:00 the end of an era, no doubt about that, leaving behind a legacy of entrepreneurial spirit,
05:06 innovation, and resilience in the face of adversity. As the nation mourns the loss of a
05:12 business tycoon, obviously, many would call him a daunted star, as mentioned earlier,
05:21 from 2004-05 onwards until 2010, when the company ran into trouble. It was,
05:28 Sahara Sri also faced a lot of flak, public ire was also there, but nonetheless, he carried on.
05:36 And as far as the last rites of Subrata Roy is concerned, the details will be shared shortly.
05:45 His contribution to the Indian business sector, the business landscape of India,
05:50 will undoubtedly be remembered for years to come. Sahara Sri, with his sheer charisma,
05:58 if I may use that word, gave the dream to a lot of Indians that with a small savings,
06:09 they could also achieve their bigger dreams. Later on, the legal trouble also came Sahara
06:17 Sri's way. People were also angry about the money not being paid. The financial troubles also kicked
06:25 in, but nonetheless, a man who was born in 1948, obviously, a long journey, 75 years,
06:36 changed the business landscape of India, cut out a name for himself. And today, on November 14th,
06:46 at the age of 75, the news that has just been received that the founder and chairman of Sahara
06:53 Group, Subrata Roy, is no more, his breath is last, at Mumbai's Kokilaben-Dhirubhai Ambani
07:03 Hospital and Medical Research Institute. He was admitted there earlier due to a decline in health.
07:10 The Sahara India Parivar has issued a statement announcing the sad news and attributing the cause
07:16 of death to a prolonged illness.
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