Subrata Roy, the Saharasri, died on Tuesday, November 14, after prolonged illness. His last rites areto take place in Lucknow's Baikunth Dham Cremation Ground, along the Gomti, around 2 pm.
According to a report, his 16-year-old grandson Himanc Roy, who flew in on Tuesday itself after the death of Subrata Roy, will be performing his last rites. Himanc is a student in London, and reportedly went from the airport straight to the Kokilaben hospital where Roy breathed his last.
Himanc Roy is the elder son of Subrata Roy's younger son, Sreemanto.
- The 75-year-old is survived by his wife Swapna Roy and two sons, Sushanto and Seemanto.
- As per media reports, they have businesses overseas and are not expected to attend the funeral rites in Lucknow.
- According to an India Today story from 2004, Sreemanto's marriage in Lucknow was flocked by the who's who of India, including the former PM Atal Bihari Vajpayee, Laloo Prasad Yadav, the Kapoor family, etc.
- The family and the mortal remains of Roy reached Lucknow on Wednesday, November 15, the report said.
Where are Subrata's sons?
- Reportedly, Roy's wife, Swapna Roy, and son, Sushanto Roy, renounced their Indian citizenship to opt for Macedonian citizenship to evade legal issues in India.
- His sons, at one point, held key offices in the Sahara group of companies, known as the Sahara Pariwar.
- This move was made due to pending cases against the Saharasri related to the non-repayment of investors' funds.
- Macedonia, an offshoot of the former Yugoslavia in South Eastern Europe, offers citizenship in lieu of investments made there.
- Reportedly, individuals seeking Macedonian citizenship need to only declare a 4 lakh euro investment (INR 3.6 crore) and employ 10 local workers.
- Additionally, foreigners investing over 40 thousand euros in Macedonian real estate gain one-year residency rights.
- Roy had strong ties with Macedonia, having been a state guest multiple times.
- He reportedly suggested erecting a large Mother Teresa statue and proposed a casino project in the country.
Roy's legal troubles began in 2010 when the Securities and Exchange Board of India (SEBI) prohibited two Sahara Group entities from raising funds from equity markets. Roy faced further challenges, culminating in his 2014 arrest on Supreme Court orders due to non-repayment of over Rs 20,000 crore to investors. Although he obtained bail, his business woes persisted.