Bengaluru/Thiruvananthapuram | With the alleged suicide of a Bengaluru-based real estate tycoon having its ripple effects in neighbouring Kerala, a police SIT was formed on Saturday to probe the high profile death of C J Roy, with the family alleging "pressure" from the I-T which was probing him.

With both the ruling and opposition blocs in Kerala seeking a comprehensive probe into Roy's death, and hours after Karnataka Home Minister G Parameshwara directed police to investigate the circumstances leading to the Confident Group Chairman allegedly shooting himself to death, the Bengaluru Police announced the formation of the SIT.

"In order to ensure a comprehensive and meticulous investigation into this case, the Commissioner of Police, Bengaluru City, Seemanth Kumar Singh has ordered the constitution of a Special Investigation Team (SIT) and directed that the investigation of the case be transferred to the team," a Bengaluru police statement said.

The SIT will be headed by the Joint Commissioner of Police, West Zone, C Vamshi Krishna.

All aspects of the case will be thoroughly examined, and relevant information will be communicated to the public in the coming days.

Speaking to PTI, Karnataka Home Minister G Parameshwara said, "we will see what the findings are. I can't say anything right now till we find out what factors pushed him to that stage.”

Businessman Roy, who was in his late 50s, suffered bullet injuries from his licensed firearm at his office near Richmond Circle in the city on Friday.

Soon after a gunshot was heard, staff members rushed to his room and found him lying in a pool of blood. He was immediately taken to a hospital, where doctors declared him dead.

I-T sources said searches on Roy's premises had begun about two months ago.

Roy's brother has alleged that he might have taken the extreme step due to pressure from the central agency.

Originally from Kerala, Roy was also the honorary counsel of the Slovak Republic, according to the Bengaluru Police Commissioner.

In Kerala, the ruling CPI(M) and the Congress-led UDF opposition sought a comprehensive probe into the death of Roy, saying that the facts behind the incident should be brought to light.

CPI(M) state secretary M V Govindan, Rajya Sabha MP A A Rahim and Leader of Opposition V D Satheesan were of the view that the reasons behind the death of Roy needs to be investigated.

Govindan, speaking to reporters in Thiruvananthapuram, questioned why central agencies were unable to act in a more humane manner when carrying out raids and other such activities.

He claimed that the raid on Roy's office continued even after his death.

Satheesan said there was a "mystery" behind the death of the businessman and sought a probe into the matter.

"It is not clear what kind of harassment he faced at the hands of the I-T officials," he added.

Superstar Mohanlal also condoled the death of the businessman.

"The loss of my dear friend C J Roy feels unreal and deeply painful. My heart goes out to his family in this time of immense grief."

"He was more than a friend, he will always be remembered with love and warmth," Mohanlal, who has acted in a couple of films produced by the businessman, said in a Facebook post.

In Bengaluru, Parameshwara said the Income Tax Department had earlier conducted searches at Roy's company and was in the process of completing statutory procedures.

"There was a raid in his company in December (last). There is a rule that within 60 days a charge sheet has to be filed in the court. They had to finalise before February 4. Hence, he was summoned," he said.

Roy had recently returned from abroad and was cooperating with the authorities, he added.

"Three days ago, he had returned from Dubai. The I-T officials went to his office to record his statement. He too responded to it," Parameshwara said.

"In the meantime, Roy told the officials that he would be back in five minutes, but he did not return even after 20 minutes. Then his suicide came to notice."

Parameshwara said he has ordered a police inquiry into the incident.

"I have directed police officials to conduct an inquiry into the circumstances that led to the incident. Things will be clear only after the report comes out," he said.

He added that Roy's family has linked the incident to the I-T action.

"Roy's brother has also given a statement that this incident happened due to I-T raids. Our police officers haven't looked into it from that aspect," he said.

When asked whether there was any political angle to the increasing Income Tax raids, the HM declined to speculate.

Karnataka Commerce and Industries Minister M B Patil said economic offence should not be treated like other crimes and it must be handled like a civil matter.

"Creating scare by bringing in CBI, ED, this and that, is not proper. Only investigation will reveal what actually had happened, but my point is that there are clauses of penalty for economic offences and there are solutions for that, but it should not be treated like (a) criminal (incident)," Patil said.

Sources said preparations are being made for the last rite of Roy at Confident Cascade near Bannerghatta.

According to sources, Roy had identified the cremation ground before his death as he made the wish that he should be cremated at Confident Cascade.