Tragic End for Real Estate Tycoon: Family Points Finger at Tax Authorities
The business community in Bengaluru has been shaken by the tragic suicide of Roy Chiriankandath Joseph, widely known as CJ Roy, the prominent owner of Confident Group. The circumstances surrounding his death remain under active investigation, creating a cloud of uncertainty and grief. In a heartbreaking development, his family has publicly blamed income tax officials from Kerala for creating the immense pressure that they believe led to this devastating outcome.
A Social Media Presence Silenced
Roy maintained a significant digital footprint, boasting an impressive 1.3 million followers on Instagram. Interestingly, he had chosen to disable the comment section on his profile. His final post was a heartfelt Republic Day wish, featuring a photograph of him with a broad smile, dressed in a sharp blue blazer, accompanied by the message 'A Very Happy Republic Day'. This post alone attracted nearly 5 lakh views, highlighting his substantial online influence. His feed was a vibrant chronicle of his luxurious lifestyle, frequently showcasing his collection of high-end cars and helicopters, documenting his extensive travels, sharing precious moments with his wife and two children, and promoting his ambitious real estate ventures.
Family's Allegations Against Tax Officials
CJ Babu, Roy's brother and the owner of WhiteGold, has spoken to the media, making serious allegations. He stated that a team of income tax officials from Kerala had been conducting intensive searches in Bengaluru for three consecutive days prior to the incident. "He shot himself with a pistol. The I-T officials are solely responsible for his death," Babu asserted emphatically. According to his account, although Roy's immediate family resides in Dubai, he had returned to Bengaluru specifically after being summoned by the investigating officers to be present. The family is anticipated to arrive in the city early Saturday to handle the aftermath of this profound loss.
Background of the Tax Scrutiny
The 57-year-old entrepreneur, who was actively promoting several upscale real estate projects in Kerala, had recently come under the scrutiny of the Income Tax Department. This was part of a broader, intensified crackdown targeting builders in the region. Official records indicate that a specialized team from Kerala conducted searches at his business premises on December 3 and December 6 of last year, followed by another raid on January 28, just days before the tragic event.
The Spark That Ignited His Real Estate Success
Roy's journey in real estate had a remarkable turning point. His initial foray involved purchasing two plots of land in Kakkanad, Kerala. Despite designing 100 flats and investing heavily in promotional roadshows, initial sales were completely stagnant. However, fortune changed during a chance meeting in Mumbai with an executive from a popular Malayalam television channel. Roy ingeniously offered one of his flats as the grand prize for the winner of a reality show on the channel. This innovative marketing strategy propelled him into the spotlight; he became the show's brand ambassador and a household name. The surge in popularity translated directly into successful flat sales, marking the beginning of his significant rise in the competitive real estate sector.
