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Op-Ed

ON THE RECORD

Subrata Roy Founder, Sahara Group

'Mayawati is a strong administrator, and her return as CM with a majority is what Uttar Pradesh needed'

Posted online: Monday, August 27, 2007 at 0000 hrs Print Email

For one who started with no more than Rs 2,000 in 1978, Saharasri Subrata Roy Sahara has come a long way. He's known for his friends in politics and Bollywood and his sponsorship of the Indian cricket team. In an interview with The Indian Express Editor-in-Chief Shekhar Gupta on NDTV 24x7's Walk the Talk, the reclusive Subrata Roy talks about how he built Sahara, how he never mixes friendship with business, his disinterest in politics, and why ICL is good for cricket. Excerpts . . .

 Today's guest is somebody who tries very hard to stay out of headlines. But there are millions of rumours about him. He's someone who's almost a recluse, but paints really big on our social, corporate, and political scene, the real Saharasri Subrata Roy Sahara.

Thank you.

It's taken a long time, and this is the real Mr Subrata Roy. There have been so many rumours about you . . . body doubles . . . illusions.

I don't know why that happened. But you're right. I'd also heard the rumours in those years. Actually, I had some problems with my blood pressure. I used to take tablets and feel fine, but doctors told me I should change my lifestyle and I just tried to change my lifestyle. I didn't disappear. I was in Lucknow, I was very much on the phone, very much with my boys, I was there for video-conferences, I attended whatever meetings I needed to attend. People from outside used to come for them.

But you heard the rumours and speculations.

I heard them. When doctors strictly said I must maintain myself, my wife became very strict. She said not to give my any news of this sort (the rumours) or he'll start running and forget his lifestyle change.

Some of your friends even got phone calls that you were no more.

(Laughing) Haan, Ram naam satya ho gaya tha mera!

Kis kis ko khabar mili Ram naam satya hone ki?

Bahut logon ney kaha. Jab Ram naam satya hone ki khabar aayi , I said enough is enough and came out.

There was talk of all kind of sickness . . . stroke, AIDs . . .

And the Times of India said he doesn't have AIDS. That was a good certificate (Laughing).

But for someone from the corporate sector, who has high-profile friends, who is not socially shy, who owns media groups, you have rarely given interviews. This is a rare interview. Why?

From 1978, my work was almost 18-20 hours a day and I used to get by on three, four or five hours of sleep. Now, I'm sleeping more than six hours daily. There's been a change in my life. I take food on time, exercise on time. After so much involvement in my work, which I really enjoy, it's difficult to circulate socially. I want to be everywhere, meet people, but it's not possible.

You love the world of glamour too.

Yes, I always loved it. I love those who are self-made, whether from sports, cinema, business, journalism. I'm very comfortable with them.

Tell us a few names, people you see as great examples of self-made success.

Dhirubhaiji (Dhirubhai Ambani) was one. I always admired him. And I've been very much influenced by Mahatma Gandhiji, whom I really worship.

Before Munnabhai came out?

Of course, much before Munnabhai . It happened after I saw Gandhi (by David Attenborough).

You started with almost nothing, and at some point you mortgaged your wife's jewellery.

Yes, I started with just Rs 2,000. And I had to mortgage my wife's jewellery. And that's the reason that after every occasion, birthday or marriage anniversary, I give her lots of gold jewellery. And she tells me now to stop it. And I say, that's psychology working in me.

So there's whole room (pointing to Roy's bungalow) filled with all that (Both laugh). It's a lovely house. There are stories about your house, also about Sahara Shehar. It's grand, but the stories make it sound grander.

It's good naa , if that's the story, then it's good.

For someone who started with Rs 2,000, you now have crores. And crores of depositors, many of them poor people. Do you feel a certain sense of responsibility?

Very much. That's the first responsibility I have because we are custodians of public money. I tell you, people go for all speculative type of investments. We never went for such investments. We never went for investment in the share market or unsecured loans, right from the beginning -- for I've always said it's better to have sukha daal and roti . We are custodians of public money.

How many depositors do you have?

Six crore plus. One in 17 Indians.

And is that why you are under the scanner all the time. From RBI, from the Income Tax Deparment. Or is that because of your friendships?

RBI is fine, because it is their responsibility, their duty to control and take care of such an organisation, the largest in deposit mobilisation in the private sector. We've crossed the levels of many private banks. So RBI has every reason to check us.

What's the total amount being held with Sahara?

Around Rs 19,000 crore. That's the size of the balance sheet. If I talk of deposits, we probably have collected Rs 50,000 crore and discharged the liabilities.

Some of your friends were ranged against this UPA Government. Mr Amar Singh, Mr Mulayam Singh Yadav . . . you are close to them.

Let me be very clear: apart from personal friendships, we don't have any political relations with anybody. We don't have any business relations with anybody. Personal relationship has nothing to do with anybody becoming vindictive.

The stories about Sahara laundering Mulayam Singh Yadav's money?

They are like film stories. Let me use an expression -- chandukhaney ki kahani hai (a story from an opium den) (Laughs). Not a single rupee of Mr Mulayam Singh Yadav is with us.

Did you finance his government?

Not even a rupee.

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