Jan 30 (Reuters) – C.J. Roy, the founder and chair of real-estate firm Confident Group, died by suicide in the southern city of Bengaluru on Friday, local police said.
Roy shot himself and was pronounced dead at a nearby hospital, Bengaluru city police chief Seemanth Kumar Singh told the media in a briefing.
Initial reports suggest that there was an ongoing tax raid, Singh said, without disclosing further details.
Authorities were conducting income tax raids against the group in Bengaluru when Roy shot himself and was rushed to Narayana Hospital, several Indian media outlets said.
Founded nearly two decades ago, Confident Group is one of the top property developers in India’s southern state of Kerala as well as in Bengaluru, according to its website.
Reuters could not immediately contact the company, and authorities at Narayana Hospital were not immediately available for comment.