|Subrata Roy sahara|
10 June 1948 |
Araria, Bihar, India
|Occupation||Founder and Chairman of the Sahara India Pariwar|
|Years active||1978 – present|
|Known for||Owner of Pune Warriors India, Grosvenor House, Aamby Valley City, Plaza Hotel, Dream Downtown Hotel|
Subrata Roy Sahara (born 10 June 1948) is an Indian businessman who is the founder and chairman of the Sahara India Pariwar, an Indian conglomerate with diversified ownership interests that includes Pune Warriors India, London's Grosvenor House, New York's Plaza Hotel, Aamby Valley City and Force India. Roy founded the company in 1978.
Subrata Roy was born in Araria in Bihar, India 1948 to Sudhir Chandra Roy and Srimati Chhabi Roy. He studied at Holy Child School in Kolkata and later studied diploma in mechanical engineering from Government Technical Institute, Gorakhpur. Roy started his first business in Gorakhpur.
Roy joined Sahara Finance, a struggling company, in 1978, that ran a chit fund and took it over. He changed its financial model. Sahara is said to have used the financial model of much older Peerless Group. They are termed residuary non-banking companies (RNBCs) that accept deposits of very low amounts.
In 1990s, Roy moved to Lucknow which became the base of his empire. His Sahara City project covering 170 acres was launched in 1990s. From there, it went on to become the largest conglomerate of India with a diversified range of business interests. The company now has interests in real estate, media, entertainment, tourism, healthcare, and hospitality.
The Hindi newspaper Rashtriya Sahara was started in 1992. In late 1990s, the ambitious Aamby Valley City project near Pune was initiated. In 2000, Sahara TV was launched which was later renamed Sahara One. In 2003, Sahara started three weeklies: Sahara Time (English), Sahara Samay (Hindi) and Sahara Aalmi (Urdu).
In 2010, Sahara purchased the iconic Grosvenor House Hotel in London, and 2012 the historic Plaza Hotel in New York City. In 2013, Sahara made a bid for Oakley Court Hotel, in Windsor, but was not successful.
Sahara claims to have a workforce of more than a million, including salaried employees and field workers. In 2013, 121,653 of its employees gathered in Lucknow to sing the India's national anthem, setting a world record
Sahara is said to have 29.6 million investors. This represents about 8.5% of all the households in India. Sahara collected sums as small as Rs. 20 rupees a day from people like rickshaw pullers, dhobis and tire repairmen. Agents working on commission promise to return an agreed-upon amount after a specified period
On February 26, 2014, the Supreme Court of India ordered the arrest of Subrata Roy for failing to appear before it in connection with the Rs.24,000-crore deposits his company has not refunded to its investors. He was eventually arrested on 28 February 2014 by Uttar Pradesh police on Supreme Court's Warrant, in a dispute with Market Regulator - SEBI. In a statement after the arrest, his lawyer said Mr. Roy's 92-year-old mother was in poor health and needed "her eldest son" by her side, and hence he failed to appear at the court.
Awards and honors
Subrata Roy Sahara has received an honorary doctorate in business leadership from the University of East London (2013).
He also received the Business Icon of the Year award at the Powerbrands Hall of Fame Awards in London in 2011. He has been the ITA – TV Icon of the Year 2007. He has received the Global Leadership Award in 2004. He received Businessmen of the Year Award in 2002, the Best Industrialist Award in 2002, Vishisht Rashtriya Udaan Samman (2010) by a daily from India’s top most publication house, Vocational Award for Excellence (2010) by Rotary International, Karmaveer Samman (1995), Udyam Shree (1994), Baba-E-Rozgar Award (1992) and the National Citizen Award in 2001. He won the Academy Award in the Indian Television Academy Awards for his contribution to Indian television. He has been also awarded with honorary degree of D. Litt. by Lalit Narayan Mithila University, Darbhanga. Moreover, he has been featured regularly in the India Today (India’s leading magazine) list of 50 Most Powerful People of India, since 2003.
Roy has propounded the corporate philosophy of ‘Collective Materialism’, that advocates collective growth through collective sharing and caring.
He has written two books.
- "Shanti, Sukh: Santushti" 1994, Essays on peace of mind and happy living.
- "Maan, Samman, Atmasamman"
- "Sahara India Pariwar". Sahara.in. Retrieved 2011-09-12.
- "India's Sahara Group". thedailystar.com. 2012-05-24. Retrieved 2012-05-27.
- বাঙ্গালীর বিত্ত সাধনা সাহারার ইতিকথা, (Bangalir Vitta Sadhana: Saharar Itikatha), Mani Shankar Mukherjee, 2003
- "Subroto Roy Biography". mapsofindia.com. 2011-02-23. Retrieved 2011-02-27.
- "Subrata Roy". timesofindia.com. 2003-07-10. Retrieved 2004-07-11.
- "Sahara India". newagebd.com. 2012-05-24. Retrieved 201-05-27.
- "Owner of Pune Warriors runs Sahara India Pariwar as managing worker". THE AUSTRALIAN. 2010-05-06. Retrieved 2011-09-12.
- "Subrata Roy Sahara". businessweek.com. Retrieved 2011-09-12.
- Sahara chief, money all safe and well, Amrit Dhillon, 11 June, 2005, South China Morning Post
- RBI eases pressure on Sahara, Peerless, Sugata Ghosh, TNN May 18, 2005
- Subrata Roy, Sahara chief, has friends across political, glamour spectrum, Manmohan Rai, ET Bureau, 1 Mar, 2014
- Subrata Roy's 'Sahara City' Stands on Scandalous Base, Shobhit Kalra, 07 Jul 2013
- Sahara India launches 3 news weeklies PTI May 11, 2003
- Sale of Plaza Hotel had to happen, Steve Cuozzo, November 18, 2013
- Indian Conglomerate Buys New York’s Plaza Hotel, NEHA THIRANI, AUGUST 1, 2012
- The Oakley Court Hotel, Windsor – SOLD!
- Sahara India under PF Department's scanner; company asked to submit all employee details, Vikas Dhoot, ET Bureau Jan 12, 2013
- Over one lakh Sahara employees break world record for largest group to sing national anthem By MAIL TODAY REPORTER, 7 May 2013
- Sahara’s phantom investors: Why Subrata Roy’s numbers don’t add up, R Jagannathan Mar 1, 2014
- India Shadow Banker Fights to Keep Empire Built on Poor, Anto Antony and Bhuma Shrivastava, Dec 2, 2013
- "Subrata Roy Sahara surrenders before Police in Lucknow". IANS. news.biharprabha.com. Retrieved 28 February 2014.
- Roy, Subrata. "Profile of Subrata Roy". Profile. BBC. Retrieved 28 February 2014.
- "UK university confers honorary doctorate on Subrata Roy". timesofindia.indiatimes.com. 2013-07-10. Retrieved 2013-07-11.
- "Grand lounch of Powerbrand". indianfoline.com. 2011-12-15. Retrieved 2011-12-16.
- "Mithila varsity confers D Litt on Subrata Roy - Times Of India". Articles.timesofindia.indiatimes.com. 2011-05-17. Retrieved 2011-08-05.
- "High and Mighty-2012". Indiatoday.intoday.in. Retrieved 2012-04-07.
- Perry, Alex (2004-12-06). "A Tale of Two Indias". TIME. Retrieved 2011-08-05.
- "Wearing Nationalism On His Sleeve". Business Standard. 2002-09-18. Retrieved 2011-09-12.
- The quirks and eccentricities of 'Saharasri' Subrata Roy, Jency Jacob, March 1, 2014
- Subrata Roy: Confident of swimming the troubled waters, AMRITA NAIR-GHASWALLA, September 8, 2012