CJ Roy’s Death Not Linked to I-T Search, Says Confident Group MD

Confident Group on Sunday rejected allegations that harassment by Income Tax officials led to the death of its chairman C. J. Roy, and said it had full faith in the ongoing police investigation.

Roy died on January 30 while officials of the Income Tax Department were conducting searches at the company's premises. Police have been probing the alleged suicide.

Addressing the media on February 9, Managing Director T.A. Joseph said the department was carrying out official duties and there was no pressure or intimidation during the search.

"If there had been any harassment, the company would have immediately responded formally," Joseph said, adding that claims linking the search directly to Roy's death were unfounded.

'Emotional reaction, not factual conclusion'

Joseph responded to statements made by Roy's brother alleging that I-T department harassment forced the chairman to take the extreme step. He described the remarks as an emotional reaction rather than a conclusion based on verified facts.

According to Joseph, Roy was not facing financial stress, health issues or family disputes to the company's knowledge.

Joseph also clarified that a petition filed by Roy before the Karnataka High Court challenging the I-T searches was withdrawn on his advice. He said the company did not see the need for a legal confrontation with a government authority over the search proceedings.

Smear campaign allegations

The Managing Director criticised certain online platforms for what he termed a smear campaign against the late chairman and the organisation. He denied allegations of illegal conduct and dismissed what he called sensational claims, including reports about celebrity investments in the company.

Financial stability reaffirmed

Seeking to reassure homebuyers and investors, Joseph said Confident Group remains financially stable and debt-free, with no outside investors involved in its business operations.

He stated that work on all ongoing real estate projects has resumed at full pace and that the company continues to cooperate fully with police authorities in the investigation into Roy's death.

Police officials have not yet announced any final conclusions in the case.