Confident Group Chairman C.J. Roy committed suicide on January 30 during an income tax raid. His 9-page note revealed financial losses and mental pressure. SIT is investigating the case.
Bengaluru: Dr. C.J., Chairman of Confident Group, who shook the industry of Kerala and Karnataka. The investigation into Roy’s death is at a critical juncture. On January 30, an Income Tax Department raid was going on at his head office in Bengaluru, when he committed suicide with his own gun. Let us see what was revealed in the investigation after the death of CJ Roy and what important developments happened.
CJ Roy’s note
A note has been found indicating that Dr CJ Roy, Chairman of Confident Group, had already decided to commit suicide. A detailed 9-page note prepared before his death has been received by his family members. In this note, he had made many important revelations about the future of his business empire and the difficulties faced.
The note mentions huge financial losses associated with foreign investment. Roy has also told in the note what kind of mental pressure he had to face due to the investigation by agencies like Income Tax Department. He has very emotionally apologized to the family members. He has specifically said that those who have invested money trusting him, should not be abandoned under any circumstances. He also explained how to take the company and investments forward in the future. Due to such a note being prepared four days before his death, the Special Investigation Team (SIT) is probing whether Roy had committed suicide in a planned manner. The information in this note is very important in the investigation.
Petition against income tax raid withdrawn
More information has come to light regarding the petition filed in the court by Confident Group in connection with the income tax raid. CJ Roy had withdrawn the petition filed against the Income Tax Raid action only after two days. The Karnataka High Court closed the case considering the request to withdraw the petition. This petition was against the raid conducted by Income Tax officials on December 3 last year. The petition demanded that the raid be declared illegal. It was argued in the petition that Kochi officials do not have the right to conduct raids in Bengaluru.
In the petition, CJ Roy had also argued that the documents seized in the raid were illegal. This petition was filed in the Karnataka High Court on 16 December. CJ Roy and eight other companies of Confident Group had approached the court. But, on December 18 itself, an application was given to withdraw the petition. It is not clear why the petition was withdrawn before a detailed hearing. With the withdrawal of the petition, the court closed the case.
Chief Minister’s letter
C.J. Chief Minister Pinarayi Vijayan had sent a letter to Union Finance Minister Nirmala Sitharaman demanding a judicial inquiry into Roy’s sudden death. The Chief Minister said in the letter that the suicide of a businessman during the raid by Income Tax Department officials is a very serious matter. C.J. There should be a fair and transparent judicial inquiry into the circumstances under which Roy died. It should also be investigated whether there was any mental pressure or violation of rules on the part of Income Tax Department officials. The letter also said that such actions of the tax administration are a blow to the business-friendly environment of the country.
BJP’s allegation
BJP state president B.Y. Vijayendra has raised the question as to why the Karnataka government formed a Special Investigation Team (SIT) in such a hurry to investigate. Speaking to the media in Shivamogga, he expressed doubt over the formation of SIT. Vijayendra said that the government hastily constituted the SIT before Roy’s family got a chance to perform the last rites or lodge a complaint, which raises suspicion. Vijayendra sarcastically said that SIT stands for “Siddaramaiah Investigation Team”. Siddaramaiah government forms SIT for two reasons – to save its position and to suppress the opposition. Vijayendra said, ‘I suspect that in this case, the SIT has been formed only to hide the failures of the Home Department.’ He also asked whether Deputy Chief Minister D.K. What special interest do senior Congress leaders including Shiv Kumar have in this matter?
Funeral and the future of business
C.J. Roy’s funeral took place at the Confident Cascade Resort in Bannerghatta, Bengaluru. He had already got a special grave prepared there for himself. His brother C.J. Babu said that even in his absence, all the projects of Confident Group will continue without any interruption.
Many big things have come to light after this suicide that shocked the business world. During investigation, officials have found that CJ Roy was under immense pressure for the last six months. The SIT has received information that investors were demanding their money back and had suffered huge losses in some investments. The investigation team says that soon more things will become clear in this case.