Subrata Roy passed away on Tuesday evening. He passed away at his residence in Mumbai after a long-term illness. Subrata’s company account of over 25,000 crore rupees is again being discussed. The order to distribute the money among the customers. A new practice has started after Subrata’s death.
However, Subrata Roy got into legal trouble. His company was accused of misappropriating lakhs of rupees by setting up chit fund organizations. Subrata Roy went through a long litigation process with SEBI.
In 2011, the Securities and Exchange Board of India (SEBI) ordered two companies belonging to the Sahara group to refund Rs. 3 crores to customers. The Supreme Court upheld the order of SEBI. The apex court also imposed 15 percent interest on the companies.
Sahara has been asked to deposit Rs.24,000 crores in total. The amount has now risen to Rs.25,000 crores, which is presently in the account. Subrata Roy’s death has raised fresh questions regarding the future of this money. According to reports, Roy was undergoing treatment at a private medical facility in Mumbai. He breathed his last on Tuesday night at 10:30 pm. His body will be cremated on Wednesday at Sahara town, Lucknow. The last rites will be performed there. He suffered from high blood pressure, diabetes, and metastatic cancer.