Confident Group chairman Roy Chiriankandath Joseph, fondly called CJ Roy, died after reportedly shooting himself at his Langford Road office in Bengaluru. Income Tax officials were present at his office at the time.
The incident reportedly occurred in the afternoon at Roy’s office-cum-bungalow.
Roy allegedly used a pistol in his possession. He was first rushed to a private hospital and then transferred to Narayana Hospital, where he was declared dead on arrival.
Roy had given a statement to the Income Tax Department on Thursday. His death came a day later, while officials were on the premises.
Income Tax officials were on another floor, where they were operating a prohibitory order. Roy was on a different floor when the incident occured. I-T officers immediately called off the operations after the incident, a tax official told a section of the media.
Under Section 132(3) of the Income Tax Act, officials can issue a prohibitory order when immediate seizure of items such as books of account, documents, money, bullion, jewellery, or other valuables is not practical. The order prevents the owner from moving or dealing with the items without permission.
Roy ran one of Kerala’s leading real estate firms, known for building projects without bank loans. It’s a zero-debt model, as he called it.
On the Confident Group website, Roy described the firm as a 19-year-old conglomerate with multiple business activities spread across India, UAE and the US. He added that the group had pride in designing and delivering multiple well-appreciated real estate projects and products across Bangalore, Kerala and Dubai.
At the time of his death, Roy was a director in eight companies spanning real estate, entertainment, aviation, construction, and personal care. The Confident Group, founded 20 years ago, had executed 210 projects.
Roy also produced several films and sponsored television shows. His first production was the big-budget Malayalam film Casanova in 2012. In 2021, he co-produced Marakkar: Lion of the Arabian Sea, starring Mohanlal. Last year, he produced Identity, starring Tovino Thomas.
He was known for luxury cars and social welfare activities.
In a certain context, Roy said: “For me, life is a celebration. Every day, I enjoy my life. I go to bed only after 12. When I am flying, if the pilot says that the flight is going to crash, I will not cry. I will be happy. I have nothing left on my list of dreams.”
He built a multi-market enterprise, created brand recognition through entertainment, and combined glamour with philanthropy.
International Profile
Roy’s personal story followed the post-liberalisation Indian success narrative.
Corporate stability traded for entrepreneurship and relentless scale. Born in Kochi and raised in Bengaluru, he studied at St Joseph’s Indian High School. He began his career at BPL, TVS Electronics, and Hewlett-Packard in planning roles across test equipment, measurement, and printer divisions. In 1997, he resigned despite rapid promotions.
He completed an MBA and weighed options for years before entering real estate. His entry was shaped by personal conviction and family influence.
In 2001, amid the dot-com crash, he bought land in Sarjapura, then peripheral to Bengaluru. Its value appreciation helped build the platform for Confident Group.
Roy cultivated an international profile. He earned a Doctorate in Business Administration from SBS Business School, Zurich, and studied in France. In 2017, he was appointed Honorary Consul of the Slovak Republic for Karnataka and Kerala. The appointment was ratified in India and coincided with the opening of a consulate in Bengaluru.
Roy’s public image blended aspiration and flamboyance. He owned a well-known automobile collection, including multiple Rolls-Royce vehicles, supercars, and hypercars, maintained across India and Dubai with family involvement.
He also repurchased his first car, a red Maruti 800 bought in 1994, paying many times its original price. The gesture showed his emotional attachment to early life symbols despite his wealth.
After the 2018 Kerala floods, he pledged to rebuild homes. He also gave a high-profile housing gift to a celebrated Indian athlete.
Modest beginning
The early days of the Confident Group, which started around 2005–2006, deserves mention.
Roy chose the name to project reliability and strength. The company began modestly, at one point with a single staff member in Kerala, before expanding rapidly. TA Joseph joined as co-founder and managing director and helped scale operations.
Over two decades, Confident Group completed over 150 projects, developed tens of millions of square feet, and served thousands of customers in Bengaluru and Kerala, later expanding to Dubai and the United States.
In Kerala, the firm focused on 2–3 BHK residential apartments. Bengaluru saw both residential communities and premium projects.
A signature project was Zion Hill Golf County near Kolar, a luxury community with a golf course and high-end villas, positioned near Bengaluru’s airport corridor.
Roy framed debt-free growth as resilience. Downturns might slow sales but would not threaten survival.
As a private company, detailed financial disclosures were limited. The company’s assets were reported at around Rs 2,039 crore as of 31 March 2025. Public insight into debt, profitability, or cash flow was limited.
In Kerala, Confident Group highlighted RERA compliance, number of registered projects, and timely completion. This reassured buyers in a market with frequent delays and disputes.
Roy diversified into hospitality, aviation, and other property-related services. The diversification added complexity, compliance demands, and reputational risk.
Meanwhile, he produced films, including Casanova (2012). Though the film’s commercial outcome was disappointing, Roy continued producing Malayalam and Kannada cinema.
Television became a key strategy. Confident Group sponsored large-scale reality programmes and music shows in Kerala. Prizes included apartments and other high-value awards. Roy preferred brand association with mass-viewed entertainment over conventional advertising. This created familiarity and aspiration, even for those who never visited a sales office.
Intense Pressure
His death raises questions about enforcement practices, the pressure of prolonged scrutiny, and the mental-health cost of being under investigation in a sector long treated as a regulatory hotspot.
Members of his family alleged that Roy had faced intense pressure, including multiple days of questioning and searches. Reports described the inquiry as focusing on assets allegedly disproportionate to known income. Police said they would examine circumstances thoroughly, including potential abetment, but determinations require evidence.
As experts have rightly pointed out, real estate in India carries unique vulnerability to scrutiny. Cash transactions, layered corporate structures, large land banks, project-specific entities, and long timelines create regulatory exposure. Even compliant companies face intense oversight.
Enforcement actions have legal, financial, and reputational consequences. For founder-centric organisations, pressure concentrates on the individual. In Roy’s case, he embodied the brand: its visibility, philanthropy, and media presence.
The episode raises questions about safeguards when investigations intersect with acute stress. India’s system allows sweeping powers, but the human impact can be invisible until it becomes catastrophic.
As it stands now, the damage has been done on multiple fronts. The world has lost a great mind and thinker. His death creates an immediate leadership test for the Confident Group. His sudden absence can destabilise decision-making, fundraising, buyer confidence, and employee morale, especially during an ongoing investigation.
Customers face urgent questions about project continuity and delivery. Competitors may see openings. The wider business community is reminded that visibility and success magnify vulnerability.
The lesson is not that success has a price, but that systems can be strong without being cruel. Investigations must never become intimidation. India’s growth story requires enforcement that is firm, fair, and humane. Mental health under scrutiny must be taken seriously.
For tax administration, the case raises questions about interrogation practices, duration, pressure calibration, and welfare protocols when investigations become psychologically destabilising.
Confident Group’s future will depend on legal, operational, and reputational developments. The deeper question is whether this death will prompt reforms that prevent similar tragedies.
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