Investors have no reason to worry following the death of businessman C.J. Roy, according to Confident Group MD T.A. Joseph. The company’s operations will continue uninterrupted, Joseph assured, adding that Confident Group holds no illicit funds and is not under investigation by either the Enforcement Directorate or the Central Bureau of Investigation.

Roy primarily oversaw the company’s Bengaluru operations, Joseph clarified, while he maintains full control of projects within Kerala. The MD stated he will be present at the Kochi office starting tomorrow, marking the first public statement from the Confident Group since Roy’s death.

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Meanwhile, a Special Investigation Team (SIT) from the Karnataka Police, investigating Roy’s suicide, will travel to Kochi to gather evidence and examine Confident Group’s transactions in Kerala. Following an Income Tax Department raid, the team also learned Roy had been receiving treatment for depression at a hospital in Bengaluru.

The SIT’s investigation will focus on family issues, Roy’s recent treatment for depression, financial dealings, and the circumstances surrounding the Income Tax Department’s inspection. Family members testified that Roy had been under psychiatric care for over four months at a prominent hospital in Bengaluru’s Jayanagar Eight Block. Recent setbacks in some projects, coupled with demands for repayment from investors, reportedly contributed to his distress, with indications of investments linked to political figures.

The Income Tax Department is also investigating potential underreporting of project costs in Kochi. Roy consistently maintained that all projects were funded without borrowing, and the investigation aims to determine the source of funds for these large-scale ventures.

ENGLISH SUMMARY:

In his first official statement after the death of CJ Roy, Confident Group MD TA Joseph assured investors that the company’s operations remain stable and unaffected. Joseph categorically denied rumors regarding black money, stating that no central agencies like the ED or CBI are investigating the group. He clarified that while CJ Roy managed operations in Bengaluru, all Kerala-based projects are under his direct supervision. Joseph condemned the “fake narratives” spread by certain YouTube channels and accused them of harassing Roy even after his passing.