The police reported that Confident Group Chairman CJ Roy died by suicide at his Bengaluru office by shooting himself in the head during Income Tax raids. He was 57.

The Income Tax Department conducted raids on companies linked to him on Thursday morning. The authorities discovered during the raids that he owned assets which exceeded his documented income sources.

A shooting incident took place today at Ashoka Nagar police station area. The initial evidence shows that C J Roy who is the chairperson and founder of Confident Group shot himself. Bengaluru Police Commissioner Seemant Kumar Singh told reporters that his body currently rests at Narayana Hospital which is located in HSR Layout.

The commissioner has stated the incident took place between 3 pm and 3:30 pm.

"According to our initial reports, the searches have been ongoing for the past three days. The I-T team was questioning him even today. Only investigation will reveal what actually happened," Singh said.

The police will continue their investigation based on the complaint received by them.

Singh reported that an I-T team from Kerala conducted the searches, and the police have not yet interviewed the team members.

"Presently, none of the I-T officers are here. We will speak to them," he said.

Roy's brother told a Malayaman news channel that the Income Tax team from Kerala first came on December 3 last year and stayed in Bengaluru for a few days.

He stated that they returned on January 28 after they summoned him back from Dubai.

The company posted a message on Facebook to honor its chairman whom they called their "beloved leader".

"Our beloved leader has departed from us, but not from the path he showed us. The values he lived by and the vision he entrusted to us will continue to guide our journey forward," it said, adding that the entire Confident Group family mourns the "sudden and irreparable loss" of its chairman.

The Confident Group stands as a major real estate development company with operations that extend throughout southern India while maintaining its primary focus on Kerala and Karnataka.

According to sources, Roy experienced distress because of the continuous IT raids against him.

Roy who came from Kochi in Kerala had a reputation for owning an extensive collection of luxury cars.