Pallonji Mistry, chairman of Shapoorji Pallonji group, passed away last night at his residence in Mumbai. He was 93.
The largest individual shareholder in the Tata Group with an 18.4 per cent holding in the conglomerate, Mistry, ran the Mumbai-based Shapoorji Pallonji group, along with his family. The group, established in 1865, works across segments such as engineering and construction, infrastructure, real estate, water, energy and financial services, according to its website.
According to news agency PTI, Mistry died mid-sleep at 0100 hrs in the intervening night between Monday and Tuesday at the family residence in South Mumbai. He is survived by four children, including Cyrus Mistry, who succeeded Ratan Tata as Chairman of the Tata Group before being ousted by the board in 2016.
A funeral service will be held on Wednesday morning, which will be followed by the ‘Uthamna’ ritual as per Parsi conventions at the Tower of Silence in South Mumbai’s Kemps Corne, according to officials.
Following the news of his demise, President Ram Nath Kovind tweeted, “I am sad to learn that Pallonji Mistry is no more. He was a doyen of infrastructure and building industry. His contribution to wealth creation and nation-building will be long remembered. Condolences to his family and friends”.
Meanwhile, Prime Minister Narendra Modi, tweeted, “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.”
Union Minister for Women and Child Development, Smriti Irani called it the “end of an era”, in a tweet. “One of life’s greatest joys was to have witnessed his genius, his gentleness at work. My condolences to the family and his loved ones,” Irani said.
In 2016, Mistry was awarded the Padma Bhushan, one of India’s top civilian awards.
— with inputs from PTI
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