Former Tata Group chairman Cyrus Mistry passed away on Sunday in an unfortunate road accident near Mumbai. Mistry was travelling in a Mercedes from Ahmedabad to Mumbai. The car crashed into a divider near Charoti on a bridge. There were four people in the car. Mistry and another person died on the spot whereas two others are currently undergoing treatment.
Palghar police said, “Prima facie, it looks like the car driver lost control. Cyrus Mistry’s mortal remains are at a government hospital in Kasa. An accidental death report (ADR) is being filed by the police, as per procedure.”
Mistry’s death is not the only tragedy to hit India Inc and the Pallonji family in recent months. Mistry's father and chairman of the Shapoorji Pallonji Group – Pallonji Mistry—had passed away on June 28, more than two months back. The construction mogul, aged 93, passed away in his sleep at his Mumbai residence.
He was often known as the ‘Phantom of the Bombay House’ in the Tata Group. He was also awarded the Padma Bhushan in 2016 for his contributions in the field of trade and industry. Pallonji Mistry was the largest stakeholder in the Tata Group with 18.4 per cent holding in the conglomerate besides being the chairman of the Shapoorji Pallonji Group through which he owned Shapoorji Pallonji Construction Limited and Forbes Textiles.
He was also the chairman of Associated Cement Companies and Eureka Forbes. Eureka Forbes operates with brands like Aquaguard and Forbes. His first international project was the construction of the royal palace of Sultan of Oman in 1976.
Shapoorji Pallonji Group built some of Mumbai’s iconic buildings such as the State Bank of India (SBI) and Reserve Bank of India (RBI) buildings. The conglomerate had a workforce of around 50,000 employees serving in 50 countries.
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