During his early youth, Roy was forced by harsh circumstances to sell salted snacks, or "namkeen," in Gorakhpur on his scooter. He gave his business the name Jaya Products.
On Wednesday, November 14, Subrata Roy, the creator of Sahara India Pariwar, died at age of 75. He spent a considerable amount of time receiving care at a private hospital in Mumbai. Numerous companies, including Aamby Valley City, Sahara Movie Studios, Air Sahara, Uttar Pradesh Wizards, and Filmy, were run by Sahara India Pariwar.
Who was Subrata Roy?
On June 10, 1948, Subrata Roy was born into a Bengali Hindu family in Araria, Bihar. His parents were Chhabi and Sudhir Chandra Roy. His mother and father were from the wealthy Bhagyakul Zamindar landlord family who lived in Dhaka, Bikrampur, East Bengal (now Bangladesh).
After attending Holy Child Institute in Kolkata, he continued his education at Government Technical Institute in Gorakhpur, where he earned mechanical engineering degree. In Gorakhpur, Roy opened his first business.
Following the death of his father, Roy had to give up his initial desire to work to support his family. During his early youth, Roy was forced by harsh circumstances to sell salted snacks, or "namkeen," in Gorakhpur on his scooter. He gave his business the name Jaya Products.
When Subrata Roy launched Sahara in 1978, he had just Rs 2000 in his pocket. According to those who have known Subrata since the 1970s, he used to ride a scooter around Gorakhpur at that time. In 1976, Roy took over the chit fund operated by Sahara Finance, a faltering business.
In 1978, he modified its financial framework. It is said that Sahara employed the much older Peerless Group's financial system. These entities, known as residuary non-banking companies (RNBCs), take very small deposits.
Roy relocated to Lucknow in the 1990s, where his group's headquarters were located. From then on, it developed into India's biggest conglomerate, encompassing a wide variety of business ventures. Currently, the company's holdings include financial services, real estate, education, media, healthcare, and more .
The famous Grosvenor House Hotel in London was acquired by Sahara in 2010, and the Dream Downtown Hotel and the historic Plaza Hotel in New York City were acquired in 2012. Sahara is estimated to have over 9 crore depositors and investors, or roughly 13% of all Indian households.
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