Subrata Roy, chairperson of Sahara India Pariwar passed away on Tuesday due to cardiorespiratory arrest after a prolonged illness. Roy was a renowned businessman who was named the tenth-most influential Indian businessmen in 2012 by India Today. In 2004, the Sahara group was termed by Time magazine as "the second largest employer in India after Indian Railways".
But after Subrata Roy, a question arises as to who will take the legacy and the giant business forward. Roy is survived by wife Swapna Roy and their two sons, Sushanto and Seemanto. So, it is highly prospective that the vast business empire Sahara Group will be inherited by his family.
However, the successor of Sahara Group was never declared by Roy or any representative of the company.
Talking about the business, Roy joined Sahara Finance, a struggling company, in 1976, that ran a chit fund and took it over and changed the financial model in 1978.
As per the claims made on the Group's official website, they have 9 crore investors and customers, a net worth of Rs 259,900 crore, 5,000 establishments and 30,970 acres of land bank. According to Reuters, Sahara's assets at one point in time included New York's Plaza Hotel and the Grosvenor House in London.
Roy was admitted to Kokilaben Dhirubhai Ambani Hospital & Medical Research Institute in Mumbai on Sunday after his health started getting worse.
