Confident Group Assures Project Completion

Kochi, Feb 9 (PTI) A week after its chairman allegedly died by suicide in Bengaluru, the Confident Group on Monday said it is a zero-debt, zero-investor company and assured customers that all ongoing projects will be completed on time.

Confident Group MD T A Joseph said the recent Income Tax inspection at the company's Bengaluru office was a routine exercise and that there was no "extreme harassment" by IT officials during the search.

His remarks came amid a controversy over chairman C J Roy's alleged suicide during an IT search at the Bengaluru office on January 30.

He added that IT officials are not adversaries, as some people perceive, but are simply implementing government regulations.

Stating that Roy's brother's reaction to the IT officials was an emotional response, Joseph said the company had fully cooperated with the inspection.

"I would say that the IT inspection was just a routine exercise. It was not conducted based on any offence committed. The IT officials interacted with us in a very reasonable manner," he told reporters at a press conference.

He said he could not comment further on Roy's death but expressed satisfaction with the ongoing Special Investigation Team (SIT) probe.

Detailing the company's operations, Joseph said it is a zero-debt, zero-investor firm and that construction activities are funded entirely through sales collections.

He added that the company would pay double if anyone could provide proof of having invested in the Confident Group.

Joseph also said the company's financial foundation is strong and that anyone can verify its operations.

Responding to questions about whether Malayalam superstar Mohanlal or his close associate, producer Antony Perumbavoor, had invested in the company, Joseph rejected such claims as baseless.

"No one has made any investment in the Confident Group. Our association with Mohanlal and Perumbavoor is limited to the film Casanova. They were like family friends to Roy and shared a strong bond with him," he said.

Joseph clarified that neither Mohanlal, Perumbavoor, nor any other film personalities have invested in the company.

"Poor Mohanlal may not even be aware of these claims. These are just false propaganda. No investment has come to our company. We don't accept such investments. We have our own way of functioning," he added.

He strongly criticised a section of online channels for spreading baseless stories regarding the company and Roy's death.

Joseph denied allegations of benami transactions or any wrongdoing by the company and questioned what wrongdoing the deceased chairman had committed.

"Many YouTube channels are spreading false stories that tarnish reputations and destroy families," he said.

The MD further assured customers that all projects would be completed on time, adding that work on all sites has resumed in full swing following the chairman's death.

The founder and chairman of the Confident Group, C J Roy, allegedly died by suicide on January 30 after sustaining bullet injuries from his licensed firearm at his office near Richmond Circle in Bengaluru.

The incident occurred while a team of Income Tax officials from Kerala was questioning him, following searches conducted over the previous three days.

Roy had been under the Income Tax department's scanner since December last year, when his office and other premises were searched.

Details of the searches are yet to be made public, and it remains unclear whether the Income Tax officials have been questioned by the Special Investigation Team.

Sources also said Roy had been consulting a psychiatrist, suggesting he was under stress.