Bengaluru, April 10 : The Special Investigation Team (SIT) has concluded its probe into the high-profile suicide case of Confident Group Founder and Chairman C.J. Roy, which occurred during Income Tax (IT) raids at his Bengaluru office. Officials have concluded that Roy died by suicide due to depression, officials stated on Friday.

The government had handed over the investigation to the SIT following allegations that pressure from Income Tax (IT) officials had led to Royâ??s death.

However, the probe has revealed that Roy had been suffering from depression for a long time and was under medication. He had reportedly stopped taking his medication for some time prior to the incident.

According to the findings, Roy had discontinued his prescribed medication about a month before his death, which officials believe may have been a key factor contributing to his suicide. However, the exact reason behind his depression remains unknown. The investigation also found that there was no evidence to suggest that any external pressure played a role in his death.

With the probe now complete, officials have stated that the SIT is preparing to submit a chargesheet in the case before the court.

C.J. Roy, founder and chairman of the Confident Group, allegedly shot himself at his office in Bengaluru on January 30 while an Income Tax raid was underway. Police said Roy was alone in his first-floor office chamber at the time of the incident. After hearing a gunshot, Income Tax officials rushed in and shifted him to hospital, where he was declared dead.

According to police, the incident occurred after Roy had been questioned for about an hour and was asked to submit additional documents. After handing over one set of records, he reportedly returned to his chamber and shot himself in the chest.

Police sources had indicated that Roy had been under severe financial stress for several months. Royâ??s business dealings came under the scanner of central investigating agencies, with a particular focus on the source of funds used to finance large-scale projects. Police believe the combination of investor pressure and questioning by tax authorities may have contributed to intense mental stress.

The SIT examined all these factors, including procedural aspects of the Income Tax raid, financial records, and testimonies from family members, officials and associates, before submitting its findings. The matter became more complicated in the backdrop of Keralam elections.

Karnataka Home Minister G. Parameshwara had said the SIT investigation will examine all circumstances surrounding the incident, including allegations made by Royâ??s family that pressure from tax authorities led him to take the extreme step. â??Everything will be ascertained once the probe is completed. Until then, it is too early to link the suicide to any specific reason,â?? Parameshwara had said.

He had said police would record statements from family members and others connected to the case and assess all emerging aspects before arriving at any conclusions.

/IANS