Roy C J, 57, chairman of the Confident Group, died by suicide in Bengaluru on Friday. Initial reports suggested he allegedly shot himself to death in his office.

He died while he was being rushed to the hospital. His body is kept at HSR Layout's Narayana Hospital.

Roy sustained a gunshot wound in the chest when an Income Tax raid was underway in his office. I-T officials said that he shot himself, not where the inspection was held, but in another place.

Roy, who was the Honorary Consul of Slovakia, had a consulate office in the building where the search took place. The initial indication is that he went from the room where the search was happening to the consulate office before killing himself.

Sources said that there was no argument during the inspection. That the officials allowed Roy to leave the inspection site for another location indicates that the raid was conducted cordially, they claimed.

Soon after a gunshot was heard, staff members rushed to his room and found him lying in a pool of blood.

Sources said that an Income Tax team from Kochi raided his office two months ago and seized documents. This was a follow-up raid conducted by the team. The Income Tax department hasn't issued any statement so far.

Police said they suspect it to be a case of suicide and added that a conclusion would be drawn after the post-mortem examination.

Roy was a well-known builder and a prominent figure in India's real estate sector. A native of Kochi, he founded the Confident Group and led its expansion, executing projects across multiple cities.

Roy is survived by his wife, Lini Roy, and children Rohit Roy and Ria Roy.