In a shocking turn of events, Dr. C.J. Roy, the 57-year-old founder and chairman of the Confident Group, died by suicide at his Bengaluru office on Friday afternoon while Income Tax Department officials were conducting raids linked to alleged tax irregularities.
Police and company sources said Roy was found with a self-inflicted gunshot wound and was immediately taken to a hospital in HSR Layout, where he was declared dead. Preliminary reports indicate that the suicide occurred between 3:00 pm and 3:30 pm, during ongoing searches by tax authorities into alleged discrepancies in his business's financial records.
Income Tax Scrutiny and Ongoing Investigation
Income Tax officials had been questioning Roy and searching Confident Group premises for several days, probing allegations of assets disproportionate to known income, a source of mounting pressure on the real estate magnate. His brother later publicly blamed the intensity of the tax raids for contributing to Roy's state of distress, demanding answers from the authorities.
Police officials stressed that while the death is being treated as suicide, the investigation is ongoing. A forensic examination and post-mortem report are expected to provide more clarity on the exact circumstances. Authorities are also examining whether any legal liabilities or potential allegations of abetment to suicide may arise from the case.
Legacy of C.J. Roy and Confident Group
Dr. C.J. Roy was a prominent business figure in South India, having built Confident Group into a major real estate player with projects across Karnataka, Kerala, and other regions. Under his leadership, the company diversified into hospitality, entertainment and film production, gaining wide recognition and media visibility.
Beyond realty, Roy was known for his luxury lifestyle, including an extensive collection of exotic automobiles and active involvement in regional film projects. His contributions to real estate development and entertainment made him an influential and often controversial public figure.
Industry and Public Reactions
News of Roy's death has sent ripples through both business and corporate communities. Industry analysts are highlighting the pressures faced by entrepreneurs under legal scrutiny, especially in sectors with tight regulatory oversight. Mental health advocates have also underscored the need for support systems for corporate leaders under extreme stress.
The Confident Group issued a statement mourning the loss of its chairman, describing Roy as a "beloved leader" whose vision guided the company's expansion and operations.
What's Next?
Law enforcement agencies continue to investigate the case, with senior officials set to review all evidence from the Income Tax Department’s searches and the circumstances of Roy's death. Further updates are expected as authorities release official findings.
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