Under Income Tax Scrutiny, Confident Group Chairman C.J. Roy Dies by Suicide in Bengaluru

Bengaluru Real Estate Tycoon C.J. Roy Found Dead Amid IT Raids- Key Highlights

• Confident Group Chairman C.J. Roy died by suicide at his Bengaluru office
• Incident occurred during an ongoing Income Tax Department search
• Police registered a case of unnatural death; probe underway
• IT officials halted raids and seized documents after the incident

Confident Group Chairman and renowned real estate developer C.J. Roy (57) reportedly shot himself to death at his office in Bengaluru's Richmond Circle area while Income Tax raids were being conducted, police sources revealed. The news has deeply shaken the city's business and real estate community.

As per police, the incident happened in Ashok Nagar Police Station jurisdiction during an Income, Tax Department search operation. Roy was found to have a self, inflicted gunshot wound. Subsequently, the police took him to the hospital, but the doctors there declared him dead on arrival.

“Today in Ashok Nagar Police Station limits an incident has taken place wherein the Confident Group Chairman shot himself. He was immediately shifted to nearby hospital where doctors declared him brought dead,” Bengaluru Police Commissioner Seemanth Kumar Singh said, as per NDTV.

Income Tax officials had been conducting searches at premises linked to Roy and his companies over the past two to three days. Sources said the raids were part of an investigation into alleged financial irregularities, including assets reportedly disproportionate to his known sources of income.

“The Income Tax team was searching the premises for last 2–3 days. Police are in touch with the family members who are not in India. As of now, it’s a case of self-shooting,” the Police Commissioner added.

Officials present in the office said that Roy was in his chamber at the time of the incident and the officers were checking the papers. After the shooting, the Income Tax Department went on to stop the raid and took several bags of documents, which were transported in official vehicles for further scrutiny.

A pistol, which is believed to be the one used in the incident, has been found at the spot and sent for forensic examination. The police have registered a case of unnatural death and have announced a thorough investigation to be carried out to determine the exact sequence of events and how the incident took place. Also, statements of Income Tax officials and office staff present at the time are being taken.

C.J. Roy was a household name in the southern real estate market. The Confident Group has an extensive footprint in both Kerala and Karnataka, with a portfolio of residential and commercial projects. Roy, a local of Kochi, was instrumental in turning the company into a well known brand over the years.

Besides real estate, Roy was involved in the Malayalam film industry. He had backed a number of films, among them actor Mohanlal's big, budget 2012 movie Casanova. The Confident Group has also been the title sponsor of several seasons of the popular television reality show Bigg Boss Malayalam, hosted by Mohanlal.

Insiders revealed that Roy had been quite stressed due to repeated Income Tax actions. Officials have urged people to remain calm and not to speculate until the investigation is over.

Further details are awaited as forensic reports and official findings emerge.

More abot CJ Roy

• Roy C.J., a native of Kerala brought up in Bengaluru, was the founder and chairman of Confident Group, a real estate developer brand having a presence in Bengaluru, Kochi, other parts of India, and the Middle East.
• He was a PhD holder, spent his studies in France and Switzerland, and had an early career stint at Hewlett, Packard. CJ Roy started Confident Group in 2006,.
• According to the company's website, he has managed to build the company into a debt free real estate company, delivering 165+ projects, covering more than 43 million square feet and serving 15, 000+ customers over the years.
• He took the Confident Group brand beyond real estate into hospitality, infrastructure and entertainment. He was also famous for sponsoring popular television shows such as Idea Star Singer.
• He  was personally involved in various philanthropic works, such as rebuilding 100 homes in Kerala after the extreme floods and also virtue of donations for heart surgeries of poor patients that gained him respect transcending the business community.

Although the exact figures of CJ Roy's net worth have not been officially released to the public, Confident Group being a private entity, numerous rports have suggested that his net worth might be more than $1 billion.

Citing a report from Cartoq.com, Roy besides being a renowned luxury car addict, had a remarkable collectionof posh cars both in India and Dubai. His car collection supposedly comprised shared Rolls, Royces, Lamborghinis and a Bugatti Veyron, costing several millions of dollars. He had just bought his 12th Rolls, Royce, a Phantom VIII, in November last year.

CJ Roy was also the Honorary Consul for the Slovak Republic in Karnataka and Kerala,