Updated: September 7, 2020 1:27:47 pm
The chairman and managing director of Suvarna Group of Companies, P I Varghese, died on Sunday afternoon after a brief illness. He was 74 years old. He is survived by his wife, son and daughter.
Varghese set up Suvarna Fibrotech in Bhosari MIDC area more than 30 years ago, following which he set up branches at Chakan, South India, and even Dubai.
He was hailed as one of the most successful small-scale entrepreneurs from Bhosari-MIDC area. Even during the recession period in 2008, neither did his firm remove employees nor did it introduce pay cut. “We were on top even during the recession,” he had said during a press conference recently. Varghese had employed several jobless youngsters from Pimpri-Chinchwad and Pune city.
Besides running a successful small-scale business, Varghese also contributed to the welfare of different sections of society and gave donations to social and voluntary organisations, said his close associates.
Suvarna Fibrotech, which has won several national awards, first shot into prominence during the tsunami in 2004. The firm manufactured floating houses and donated them to those rendered homeless.
Varghese was honoured by the Kerala government with a special lifetime achievement award. K Harinarayan of Pune Malayalee Federation said, “The death of P I Varghese is a big blow to Pimpri-Chinchwad. Varghese (sir) was not just a successful industrialist but a philanthropist to the core. He helped several poor youngsters and families. His company gave loans to employees to build houses. He was always at the forefront when it came to helping social and voluntary organisations.”
Jayshree Marale, retired principal of a PCMC school, said, “On March 8, Varghese held a function in our area in Kasarwadi and felicitated several women for outstanding work. He told them that if they need any help, they should contact him. He said he will always be there to help them. His death is a shock for all of us. He was the pride of Pimpri-Chinchwad.”
In a statement, the family said, “Arrangements for the public to pay their respects is from 11 am to 2 pm at his residence in Nigdi Pradhikaran on Monday.” The funeral service will be available at St Joseph Church, Akurdi.
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