Karnataka SIT rules Confident Group founder C.J. Roy's suicide due to depression amid IT raids

Bengaluru: A Special Investigation Team (SIT) has concluded that Confident Group founder and chairman C.J. Roy died by suicide from depression during Income Tax (IT) raids at his Bengaluru office on 30 January.

The probe, ordered after Roy's family alleged pressure from IT officials, found no evidence of external coercion. Instead, it revealed Roy had long suffered from depression, was on medication, but stopped taking it about a month before his death. The exact cause of his depression remains unclear.

Roy shot himself in the chest while alone in his first-floor office chamber, after about an hour of questioning and handing over documents. IT officials heard the gunshot, rushed him to hospital, but he was declared dead.

Police sources noted Roy faced severe financial stress from investor pressures and scrutiny over funding for his large-scale projects. The SIT reviewed raid procedures, financial records, family testimonies, and statements from officials and associates.

Karnataka Home Minister G. Parameshwara had promised a thorough probe into all circumstances, including family claims of tax authority pressure. “Everything will be ascertained once the probe is completed,” he said earlier.

With findings complete, the SIT will file a chargesheet in court. The case gained attention amid Kerala elections due to Roy's business ties.

(Inputs from IANS)