Cricketer Yuvraj Singh in the early hours of Wednesday mourned the demise of the founder of Sahara India Group, Subrata Roy. Yuvraj, in his post on Instagram, mentioned the special connection he shared with Sahara, who was instrumental in aiding Yuvraj when he was diagnosed with mediastinal seminoma, a rare form of cancer in his lungs, back in 2011, and thanked the business icon for his continued support through the rough period. Taking to Twitter Yuvi, shared a picture which he captioned, "Saddened to hear of the passing away of Mr. Subrata Roy, a real stalwart. He was a true testament of someone who never gave up no matter what the odds. When I got diagnosed with cancer, he was one of the few people who stood by me and supported me. He was always very close to me and my family, and someone we looked up to. He was a fighter who despite facing tough times himself, fought with every ounce of his being till the very end. A huge loss and a very difficult void to fill. RIP sir 🙏🏻 my prayers for the strength of his family and well-wishers.
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The Sahara group also owned the now-defunct Pune Warriors India, in cricket’s lucrative Indian Premier League. Yuvraj was also the captain of the side in 2011, and was diagnosed with cancer during his tenure with the team in 2012. Hours after, Yuvi posted about how Subrato Roy stood by him during his cancer fight, the two time World Cup winner, got trolled brutally and soon had to disable the comments section. Roy's Sahara group became a household name with ambitious projects like Aamby Valley City and acquisitions such as the iconic Grosvenor House Hotel in London and the Plaza Hotel in New York City. The group also made significant strides in the media industry with ventures like Sahara TV, later renamed Sahara One, and the Hindi language newspaper Rashtriya Sahara. Subrata Roy's illustrious career was not without controversy. In what came to be known as the Sahara Scam, Roy faced allegations of fund mismanagement amounting to Rs 24,000 crore. The Securities and Exchange Board of India (SEBI) accused Sahara of raising funds through Optionally Fully Convertible Debentures (OFCDs) without proper approvals. This led to a directive from SEBI in 2011 for two Sahara companies to refund the money raised from investors. The legal battle culminated in Roy's arrest in March 2014, and he spent time in Tihar Jail before being released on parole in 2017. The scandal tarnished the reputation of the Sahara group and Roy, who once enjoyed a larger-than-life status, hosting lavish events and rubbing shoulders with celebrities and politicians.
