Bengaluru: Confident Group Chairman CJ Roy Shoots Himself Dead After Income Tax Raid

New Delhi: Confident Group Chairman CJ Roy allegedly shot himself dead in Bengaluru on Friday. This shocking development comes only a few hours after the Income Tax Department carried out searches at his office in the city. 

What was the incident?

C.J. Roy, founder and chairman of the real estate company Confident Group, committed suicide on Friday at his office near Richmond Circle in Bengaluru. He shot himself during an income tax raid. The news has sent shockwaves through the business community. What exactly happened to this man who started his life's journey with a Maruti 800 car and became a multi-billionaire? What was the empire of luxury cars like? Here are the details.

The incident took place at the Confident Group office near Richmond Circle in the heart of Bengaluru. According to reports, C.J. Roy suddenly shot himself inside his office. He had gone to hand over documents to the authorities during the IT raid, but instead, he shot himself in the chest. Hearing the gunshots, the office staff and IT officials rushed in and found him lying in a pool of blood.

He was immediately rushed to Narayana Hospital in HSR Layout. But it was too late. Doctors confirmed that C.J. Roy had died due to lack of timely treatment. Upon receiving information about the incident, the police arrived at the scene and began an investigation. He is survived by his wife Lini Roy and two children, Rohit and Rhea. His son Rohit manages the international business and design department of the Confident Group. The death of this stalwart, who made a name for himself in the real estate industry and built a debt-free company, has now raised hundreds of questions.

What do we know about his life?

Dr. Roy C.J., or C.J. Roy, did not have an easy journey. He was born in Kerala but grew up in Bengaluru. He went abroad at a young age and completed his studies in France and Switzerland. He also earned a doctorate in Business Administration. Initially, he worked for a Fortune 500 company like HP and gained corporate experience. But his dream was bigger.

In 2006, he started the Confident Group in Bengaluru. Surprisingly, they succeeded in the capitalist real estate industry by introducing a zero-debt model. Today, their empire spans across Kerala, Bengaluru, and internationally, including Dubai. They have built over 165 projects and buildings spread across 43 million square feet. According to one estimate, they owned properties worth ₹28,000 crore. On the other hand, it is also said that they own properties worth ₹9,000 crore.

C.J. Roy is remembered for his craze for luxury cars. He is one of the people in India with the most expensive and largest car collection. You have to believe that he owned more than 200 luxury cars. There is no car that wasn't in his garage. Most importantly, he owned 12 Rolls-Royce cars! Yes, what you are hearing is true. Recently, he bought his 12th Rolls-Royce Phantom 8 car from Big Boy Toyz. Its price is said to be around ₹10 crore.

His collection includes an electric blue Bugatti Veyron worth ₹15 crore. Not only that, he owns hypercars like the Koenigsegg Agera, Pagani Huayra, Porsche 918 Spyder, and McLaren 720S. His garage is worth crores of rupees or millions of dollars. Along with his son Rohit Roy, he built a car empire in Dubai.

C.J. Roy, who owns so many cars worth crores, also attracted attention with an emotional story about an old car. In 1994, at the age of 25, he bought a Maruti 800 car for ₹1.10 lakh. That was his first car. Over time, he became wealthy and sold that car. But no matter how many Bugattis and Ferraris he acquired, the memory of that first car always haunted him.

Recently, he made a video on social media, stating that he was willing to pay ₹10 lakh for his old car. Luckily, the car was found. Although it was in very poor condition, due to his emotional attachment to it, he bought it back for ₹10 lakh, which was 10 times the amount he had paid for it in 1994. He said that he owned a Bugatti, but the Maruti 800 held a special place in his heart, a statement that went viral.

Moreover, CJ Roy was not just a builder. He also made a big name for himself in the entertainment field. He had invested in Malayalam superhit films like Marakkar and I Am Moosa. He sponsored popular reality shows like Star Singer. Besides this, his social service was equally significant. Recently, he had given scholarships worth ₹1 crore to 201 underprivileged students in Kerala and Karnataka. His dream was to increase this number to 300 students by 2026. He is credited with rebuilding more than 100 houses during the Kerala floods. He was also serving as the Honorary Consul of the Slovak Republic. But this is where it all ended.

What are Confident Group's Controversies and Allegations?

No matter how high CJ Roy rose, controversies never left him. Between 2013 and 2016, customers turned against the Confident Group. People used platforms like MouthShut to call the project a major fraud for failing to provide amenities like clubhouses and parks and for delays in handover. In 2022, allegations of violating CRZ (Coastal Regulation Zone) rules were leveled against the Maradu apartment project. However, the company denied these allegations and clarified that they had acted in accordance with the law. Despite customer complaints, CJ Roy's Zion H Emaar was back in the news with a major project worth Rs 3,000 crore, such as the Hills Golf County.