News Flash Daily
25 February
Investigators suspect intense pressure over explaining Rs. 500 crore in alleged hawala funds, along with ongoing Income Tax scrutiny, may have driven Confident Group chairman C J Roy to suicide in Bengaluru
Bengaluru: The suicide of prominent businessman C J Roy, Chairman of the Confident Group, earlier this month has taken a dramatic turn, with investigators now probing whether intense pressure over accounting for nearly Rs. 500 crore in alleged illegal funds may have pushed him to the extreme step, sources familiar with the investigation said.
The incident, which occurred in Bengaluru, had initially sent shockwaves across business and real estate circles. Early reports suggested that repeated raids and questioning by the Income Tax Department may have contributed to Roy’s distress. Subsequently, police also questioned IT officials as part of the preliminary inquiry.
The case is now being investigated by a Special Investigation Team (SIT), and sources indicate that key findings could be made public in the coming days.
Rs. 500 Crore Accounting Pressure Under Scanner
According to highly placed sources, on the day of his death, Roy was expected to submit explanations and records related to nearly Rs. 500 crore in suspected hawala or illegal funds during questioning by tax authorities. Investigators believe that Roy was under extreme mental pressure as he allegedly failed to provide satisfactory documentation for the funds.
Officials involved in the probe said that Roy had reportedly not taken bank loans for any of his major projects, yet had managed to build a vast business empire. This unusual financial structure reportedly raised red flags, prompting closer scrutiny and multiple searches by tax officials.
“The inability to account for such a large sum appears to have intensified the pressure on him. This angle is being examined closely by the SIT,” a senior official associated with the investigation said, requesting anonymity.
Mental Health Concerns and Events Before Death
Sources further revealed that Roy had been undergoing counselling for mental health issues and was reportedly on medication for depression in the days leading up to the questioning. Investigators are examining whether the cumulative pressure of the inquiry and the impending explanation of the alleged funds may have overwhelmed him.
There are also claims under verification that Roy may have made an earlier attempt at a private hotel where he was staying, before the incident at his office. The recovery of certain materials from the hotel room has added another layer of suspicion, and this aspect is also part of the ongoing probe.
C J Roy’s Diary Remains Confidential
One of the most sensitive elements of the case is Roy’s personal diary, which police recovered on the day of his death. At the time, sources had indicated that the diary contained references to influential political figures and personalities from the film industry.
Unconfirmed reports suggested that the diary mentioned the names of two sitting MLAs and a former Member of Parliament, along with details of business associations. More recent inputs claim that names of actresses, models, and politicians, as well as alleged dealings with influential leaders from Bengaluru and Kolar district, are also recorded in the diary.
Despite widespread speculation, authorities have not officially disclosed the diary’s contents, maintaining that it is a crucial part of the SIT investigation and cannot be made public at this stage.
Investigation at a Critical Juncture
With multiple angles now under scrutiny—financial irregularities, mental health factors, and politically sensitive disclosures—the SIT probe has reached a crucial phase. Officials insist that all claims remain allegations until corroborated by evidence, and a clearer picture will emerge once the investigation is concluded.
