Ashok Kumar Jain was the Chairman of Bennett, Coleman & Co. It was a parent company of the Times of India and other large newspapers.
He died on 4 February 1999 in Cleveland, United States at age of 64, following a heart transplant on 10 January.
Even after his death, his contribution to society was noted as the managing trustee of the Bharatiya Jnanpith. It is a leading organization devoted to the promotion and recognition of the best creative writing in Indian languages.
FERA violation charges
Ashok Jain was accused and arrested in 1998, a year before his death, in connection with an alleged violation of the FERA (Foreign Exchange Regulation Act).
Again, the Times was accused of distorting facts about the case, even giving Ashok’s indictment by the Enforcement Directorate the tint of a larger conspiracy against the Jain community in general.
Adding to the controversy were sacked editor H.K. Dua’s claims that his removal was punishment for his refusal to comply with Ashok Jain’s request to help him out by using his editorial position to build up public support besides lobbying with politicians. The ED, Delhi, arrested Jain from his Carmichael Road residence in Mumbai after 18 months in various courts.
>>>Read about History of Newspaper in India