Bengaluru Real Estate Tycoon, Under Tax Scrutiny, Dies By Suicide In Office

Bengaluru, Jan 31: Confident Group Chairman CJ Roy died by suicide on Friday by shooting himself in the head at his Bengaluru office while Income Tax raids were underway, the police said. He was 57.

Earlier on Thursday morning, the Income Tax Department had conducted raids on companies linked to him. During the raids, it was allegedly revealed that he possessed assets disproportionate to his known sources of income.

“Today, under the Ashoka Nagar police station limits, a shooting incident occurred. Prima facie, it appears that the Confident Group chairperson and founder, C J Roy, shot himself dead. His body is at Narayana Hospital in HSR Layout,” Bengaluru Police Commissioner Seemant Kumar Singh told reporters after inspecting the spot.

The commissioner said the incident occurred between 3 pm and 3.30 pm. 

“According to our initial reports, the searches have been ongoing for the past three days. The I-T team was questioning him even today. Only investigation will reveal what actually happened,” Singh said.

When asked whether the case could be treated as abetment to suicide, he said the investigation will proceed based on the complaint.

Singh added that the searches were led by an I-T team from Kerala, and the police are yet to speak with them.

“Presently, none of the I-T officers are here. We will speak to them,” he said.

Roy’s brother told a Malayaman news channel that the Income Tax team from Kerala first came on December 3 last year, and stayed in Bengaluru for a few days.

They then came again on January 28 after calling him back from Dubai, he said.

In a message posted on its Facebook page, the company paid tribute to its chairman, calling him its “beloved leader”.

“Our beloved leader has departed from us, but not from the path he showed us. The values he lived by and the vision he entrusted to us will continue to guide our journey forward,” it said, adding that the entire Confident Group family mourns the “sudden and irreparable loss” of its chairman.

A prominent real estate developer, the Confident Group has a significant presence across several southern Indian states, most notably Kerala and Karnataka.

According to sources, Roy was distressed due to repeated IT raids. 

A native of Kerala’s Kochi, Roy was known for his collection of high-end vehicles.

He has also produced Malayalam films, including Mohanlal’s big-budget movie Casanova (2012). 

The real estate Group was also the title sponsor for a few seasons of the Malayalam TV reality show Bigg Boss Malayalam, hosted by Mohanlal.

The death of Roy has sent shockwaves through the real estate community and among thousands of customers of the Confident Group.