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Roy founded the Sahara Group in 1978,<ref>{{cite web|url=http://www.theaustralian.com.au/business/in-depth/owner-of-pune-warriors-runs-sahara-india-pariwar-as-managing-worker/story-e6frgaho-1225863044409 |title=Owner of Pune Warriors runs Sahara India Pariwar as managing worker|publisher=THE AUSTRALIAN |date=2010-05-06|accessdate=2011-09-12}}</ref><ref>{{cite web|url=http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=30295315&privcapId=10851474&previousCapId=20375105&previousTitle=Sahara%20Housingfina%20Corporation%20Ltd |title=Subrata Roy Sahara|publisher=businessweek.com |accessdate=2011-09-12}}</ref> with a [[chit fund]]<ref>[[http://www.scmp.com/article/503996/sahara-chief-money-all-safe-and-well Sahara chief, money all safe and well, Amrit Dhillon, 11 June, 2005, South China Morning Post]]</ref> with an an initial asset base of just Rs. 2000 (US$43). Sahara is said to have used the financial model of much older [[Peerless Group]]. They are termed residuary non-banking companies (RNBCs)<ref>[http://articles.economictimes.indiatimes.com/2005-05-18/news/27494539_1_discretionary-investments-rnbcs-risk-weightage RBI eases pressure on Sahara, Peerless, Sugata Ghosh, TNN May 18, 2005]</ref> that accept deposits of very low amounts. 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]], [[Mass media|media]], [[entertainment]], [[tourism]], [[healthcare]], and [[hospitality]].
Roy founded the Sahara Group in 1978,<ref>{{cite web|url=http://www.theaustralian.com.au/business/in-depth/owner-of-pune-warriors-runs-sahara-india-pariwar-as-managing-worker/story-e6frgaho-1225863044409 |title=Owner of Pune Warriors runs Sahara India Pariwar as managing worker|publisher=THE AUSTRALIAN |date=2010-05-06|accessdate=2011-09-12}}</ref><ref>{{cite web|url=http://investing.businessweek.com/businessweek/research/stocks/private/person.asp?personId=30295315&privcapId=10851474&previousCapId=20375105&previousTitle=Sahara%20Housingfina%20Corporation%20Ltd |title=Subrata Roy Sahara|publisher=businessweek.com |accessdate=2011-09-12}}</ref> with a [[chit fund]]<ref>[[http://www.scmp.com/article/503996/sahara-chief-money-all-safe-and-well Sahara chief, money all safe and well, Amrit Dhillon, 11 June, 2005, South China Morning Post]]</ref> with an an initial asset base of just Rs. 2000 (US$43). Sahara is said to have used the financial model of much older [[Peerless Group]]. They are termed residuary non-banking companies (RNBCs)<ref>[http://articles.economictimes.indiatimes.com/2005-05-18/news/27494539_1_discretionary-investments-rnbcs-risk-weightage RBI eases pressure on Sahara, Peerless, Sugata Ghosh, TNN May 18, 2005]</ref> that accept deposits of very low amounts. 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]], [[Mass media|media]], [[entertainment]], [[tourism]], [[healthcare]], and [[hospitality]].

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 of India|Supreme Court's]] Warrant, in a dispute with [[Securities and Exchange Board of India|Market Regulator - SEBI]].<ref>{{cite web|title=Subrata Roy Sahara surrenders before Police in Lucknow|url=http://news.biharprabha.com/2014/02/subrata-roy-sahara-surrenders-before-police-in-lucknow/|work=IANS|publisher=news.biharprabha.com|accessdate=28 February 2014}}</ref> 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.<ref>{{cite web|last=Roy|first=Subrata|title=Profile of Subrata Roy|url=http://www.bbc.com/news/world-asia-india-26349549|work=Profile|publisher=BBC|accessdate=28 February 2014}}</ref>


==Awards and honors==
==Awards and honors==

Revision as of 06:14, 1 March 2014

Subrata Roy
File:Subrata Roy Sahara.jpg
Born (1948-06-10) 10 June 1948 (age 76)
Araria, Bihar, India
NationalityIndian
Other namesSaharasri
Occupation(s)Founder and Chairman of the Sahara India Pariwar
Years active1978 – present
Known forOwner of Pune Warriors India, Grosvenor House, Aamby Valley City, Plaza Hotel, Dream Downtown Hotel
SpouseSwapna Roy
ChildrenSushanto Roy (son), Seemanto Roy (son)
Websitewww.sahara.in/saharasri/

Subrata Roy (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.

He was named among the 10 Most Powerful People of India in 2012 by India Today. In 2004, the group was termed by the Time magazine as ‘the second largest employer in India' after the Indian Railways.

Early life

Subrata Roy was born in Araria, India 1948[1] to Sudhir Chandra Roy and Srimati Chhabi Roy.[2] [3]He studied at Holy Child School in Kolkata and later studied diploma in mechanical engineering from Government Technical Institute, Gorakhpur.[4] Roy started his first business in Gorakhpur.[5][6]

Business career

Main article: Sahara India Pariwar

Roy founded the Sahara Group in 1978,[7][8] with a chit fund[9] with an an initial asset base of just Rs. 2000 (US$43). Sahara is said to have used the financial model of much older Peerless Group. They are termed residuary non-banking companies (RNBCs)[10] that accept deposits of very low amounts. 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.

Awards and honors

Subrata Roy Sahara has received an honorary doctorate in business leadership from the University of East London (2013).[11]

He also received the Business Icon of the Year award at the Powerbrands Hall of Fame Awards in London in 2011.[12] 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. [citation needed] He has been also awarded with honorary degree of D. Litt. by Lalit Narayan Mithila University, Darbhanga.[13] Moreover, he has been featured regularly in the India Today (India’s leading magazine) list of 50 Most Powerful People of India, since 2003.

In 2012, Roy was named among the 10 most influential businessmen in India by the news magazine India Today.[14]

In 2004, the company he founded was termed by Time magazine as "the second largest employer in India" after Indian Railways.[15]

Work philosophy

Roy has propounded the corporate philosophy of ‘Collective Materialism’,[16] that advocates collective growth through collective sharing and caring.

Controversies

Sahara Group chief Subrata Roy was on Friday sent to police custody till March 4, 2014 hours after he was arrested by the Uttar Pradesh police. Mr. Roy surrendered before the police on Friday morning, two days after the Supreme Court issued a non-bailable warrant against him for failing to refund Rs. 20,000 crore to investors.

References

  1. ^ "Sahara India Pariwar". Sahara.in. Retrieved 12 September 2011.
  2. ^ "India's Sahara Group". thedailystar.com. 24 May 2012. Retrieved 27 May 2012.
  3. ^ বাঙ্গালীর বিত্ত সাধনা সাহারার ইতিকথা, (Bangalir Vitta Sadhana: Saharar Itikatha), Mani Shankar Mukherjee, 2003
  4. ^ "Subroto Roy Biography". mapsofindia.com. 23 February 2011. Retrieved 27 February 2011.
  5. ^ "Subrata Roy". timesofindia.com. 10 July 2003. Retrieved 11 July 2004.
  6. ^ "Sahara India". newagebd.com. 2012-05-24. Retrieved 201-05-27. {{cite web}}: Check date values in: |accessdate= (help)
  7. ^ "Owner of Pune Warriors runs Sahara India Pariwar as managing worker". THE AUSTRALIAN. 6 May 2010. Retrieved 12 September 2011.
  8. ^ "Subrata Roy Sahara". businessweek.com. Retrieved 12 September 2011.
  9. ^ [Sahara chief, money all safe and well, Amrit Dhillon, 11 June, 2005, South China Morning Post]
  10. ^ RBI eases pressure on Sahara, Peerless, Sugata Ghosh, TNN May 18, 2005
  11. ^ "UK university confers honorary doctorate on Subrata Roy". timesofindia.indiatimes.com. 10 July 2013. Retrieved 11 July 2013.
  12. ^ "Grand lounch of Powerbrand". indianfoline.com. 15 December 2011. Retrieved 16 December 2011.
  13. ^ "Mithila varsity confers D Litt on Subrata Roy - Times Of India". Articles.timesofindia.indiatimes.com. 17 May 2011. Retrieved 5 August 2011.
  14. ^ "High and Mighty-2012". Indiatoday.intoday.in. Retrieved 7 April 2012.
  15. ^ Perry, Alex (6 December 2004). "A Tale of Two Indias". TIME. Retrieved 5 August 2011.
  16. ^ "Wearing Nationalism On His Sleeve". Business Standard. 18 September 2002. Retrieved 12 September 2011.

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