Peerless Group managing director S K Roy, 78, dies after prolonged illness

He is credited with diversifying the Peerless group into hospitality, healthcare and real estate. The group's turnover is about Rs 2,500 crore. In 2009, Roy received the Padma Shri

Peerless group managing director, Sunil Kanti Roy, better known as S K Roy, died on Sunday following a prolonged illness. He was 78.

The Peerless group was incorporated in 1932 when Radheshyam Roy, S K Roy’s father, founded The Peerless Insurance Co Ltd (now, The Peerless General Finance & Investment Co Ltd) in Narayanganj, Bangladesh.

By the time Radheshyam Roy passed away in 1960, the entire business operation had shifted to Kolkata and the baton passed to elder son, B K Roy. The reins of leadership went into S K Roy's hands in 1985 after B K Roy’s demise.

S K Roy joined the board in 1984 and became joint managing director in 1990 and since 1996 had held the position of managing director. He is credited with diversifying the Peerless group into hospitality, healthcare and real estate. The turnover of the group is about Rs 2,500 crore. In 2009, Roy received the Padma Shri.

He is survived by his wife, daughter and son, Jayanta Roy, who is the deputy managing director.