KOCHI: Following the alleged suicide of its chairman in Bengaluru last week, Confident Group reaffirmed on Monday that it is a zero-debt, zero-investor company. The firm reassured customers that all ongoing projects will be completed as scheduled.
Confident Group’s MD, T A Joseph, clarified that a recent Income Tax audit at their Bengaluru office was routine and that IT officials had not engaged in “extreme harassment” during the inspection.
His comments come in light of the controversy surrounding the alleged suicide of chairman C J Roy during the IT inspection on January 30.
Joseph emphasized that IT officials are not adversaries, as some may think, but are fulfilling government mandates.
Addressing Roy’s brother’s emotional reaction to the IT officials, Joseph stated that the company had fully cooperated with the audit.
“This IT inspection was purely a routine check, not the result of any wrongdoing. IT officials interacted with us reasonably,” he informed reporters at a press conference.
While he refrained from commenting further on Roy’s death, Joseph expressed his confidence in the ongoing Special Investigation Team (SIT) inquiry.
Elaborating on the company’s operations, Joseph conveyed that it is entirely debt-free and operates without investors, relying solely on sales collections for funding construction activities. He pledged to double any claims made by individuals claiming to have invested in Confident Group.
Joseph also affirmed the company’s robust financial health, allowing anyone to verify its operations.
In response to inquiries about possible investments from Malayalam superstar Mohanlal or producer Antony Perumbavoor, Joseph categorically denied such claims, deeming them unfounded.
“No one has invested in Confident Group. Our connection to Mohanlal and Perumbavoor is solely through the film Casanova, where they were close friends of Roy,” he noted.
He stressed that neither Mohanlal, Perumbavoor, nor other celebrities have made any investments in the company, stating, “Poor Mohanlal is likely unaware of such false claims. This is mere baseless propaganda. We do not accept investments and operate in our own way.”
Joseph condemned certain online channels for spreading unfounded rumors regarding the company and Roy’s passing.
He rebuffed claims of benami transactions or misconduct, questioning what offense the late chairman could be accused of.
“Numerous YouTube channels are disseminating false information that damages reputations and harms families,” he remarked.
Joseph reiterated his commitment to ensuring all projects will be completed on time and noted that work at all sites has resumed vigorously since Roy’s death.
Roy, the founder and chairman of Confident Group, allegedly took his life on January 30 following injuries from his licensed firearm at his office near Richmond Circle in Bengaluru, during questioning by a Kerala Income Tax team.
This questioning followed a three-day search of his office and premises initiated in December last year, where Roy had been under scrutiny by the Income Tax department.
Details of the search remain undisclosed, and it’s unclear if the Special Investigation Team has questioned the Income Tax officials involved.
Sources indicated that Roy had been consulting a psychiatrist, suggesting he was under significant stress.
