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Business tycoon Pallonji Mistry dies at 93

Pallonji Mistry, Chairman of Indian conglomerate Shapoorji Pallonji Group, passed away yesterday night in Mumbai at the age of 93.

Prime Minister Narendra Modi took to Twitter to express his condolences about the demise of the business tycoon.

"Saddened by the passing away of Shri Pallonji Mistry. He made monumental contributions to the world of commerce and industry. My condolences to his family, friends and countless well-wishers. May his soul rest in peace," PM Modi tweeted.

Born in 1929, Mistry was conferred with Padma Bhushan, the country's third-highest civilian award, for his contribution as an industrialist. Indeed, In 2016, he was awarded the Padma Bhushan.

The Mumbai-headquartered Shapoorji Pallonji Group, founded back in 1865, deals in construction, real estate, textiles, engineered goods, home appliances, shipping, publications, power, and biotechnology.

Mistry was the largest individual shareholder in the Tata Group with a total of over 18 per cent holding.
Mistry was the largest individual shareholder in the Tata Group with a total of over 18 per cent holding. Photo courtesy: Twitter

Mistry was the largest individual shareholder in the Tata Group with a total of over 18 per cent holding. His father, Shapoorji Pallonji had bought Tata Sons shares in 1930.

Union Minister Anurag Thakur tweeted: "Shapoorji Pallonji Group Chairman Sh Pallonji Mistry Ji was a pioneer of his industry and passionate about the projects he undertook spanning decades. Saddened to hear about his passing away. I express my condolences to his family and friends."

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CtoI News Desk
CtoI News Desk – CtoI

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