Confident Group owner C J Roy dies by suicide during Income Tax raid in Bengaluru

BENGALURU: Renowned Malayali businessman C J Roy (57), owner of the Confident Group and a name on India’s billionaire list, committed suicide by shooting himself while an Income Tax Department raid was in progress. He headed a business empire with assets worth Rs 9,500 crore.

The tragic incident occurred at around 3.15 pm on Friday at the Confident Group’s corporate office near Rich Mount Circle on Hosur Road, close to Anekal in Bengaluru. His wife Lini Roy and children Rohit and Ria were at their residence in Bengaluru at the time.

The Income Tax Department was conducting raids in connection with fund mobilisation for real estate projects. Officials from Kerala had carried out the first raid on December 28. They returned on January 22, continued the raid, and sealed the office room. The team arrived again three days ago and began procedures to take custody of documents. During this period, Roy was questioned several times.

According to sources, there was concern that he might be taken into custody when the inspection ended on Friday evening. Roy went into his chamber to retrieve the key of a sealed locker, where he allegedly shot himself in the chest.

Employees rushed in after hearing the sound and found him lying dead in a pool of blood. With police assistance, he was taken to the nearby Narayana Hrudayalaya Hospital. The Income Tax officials continued the inspection even as the incident occurred and reportedly left the premises soon after the death, taking documents with them in two Innova cars.

Following the incident, Bengaluru City Police, led by Commissioner Seemanth Kumar Singh, took control of the site. CCTV footage, mobile phones, and social media activity are being examined. Police said relatives, business partners, and family members would be questioned. Income Tax officials stated that there was no verbal argument and that they had not behaved provocatively.

Employees told Ashok Nagar police that Roy had been under severe mental stress due to the raids and had been questioned by officials since morning.

Over 200 projects

Roy, the son of Joseph of Chiriyamkandath in Thrissur, was brought up in Bengaluru. After completing a degree in mechanical engineering, he earned a doctorate in business administration from SBS Business School, Switzerland. He founded the Confident Group in 2005 after resigning from a job at the multinational company HP.

The group has completed over 200 residential and commercial projects. Its operations expanded into hospitality, aviation, entertainment, education, and retail. Roy produced four films, was a production partner in two others, and made appearances in two films.