NEW DELHI – Indian tycoon Cyrus Mistry, who served as the chairman of India’s corporate giant Tata Sons between 2012 and 2016, died in a road accident on Sunday.
Mistry, aged 54, was travelling from Ahmedabad in Gujarat state to Mumbai with three other people in a Mercedes car, Indian media reported, citing police.
Two people, including Mistry, were killed and the other two injured when their car hit a road divider in the Palghar area near Mumbai around 3pm (India time), according to the reports.
Mistry was the youngest of two sons of late billionaire Pallonji Mistry, whose family-owned construction giant Shapoorji Pallonji Group is one of India's leading corporate houses.
With Shapoorji Pallonji being the single largest shareholder, he became Tata Sons’ chairman in 2012.
Before that, he was the managing director of the Shapoorji Pallonji Group.
Mistry lost the top Tata job in 2016 after he fell out with group patriarch Ratan Tata over management issues.
Mistry studied civil engineering at London's Imperial College and obtained a master's degree in management from the London Business School.
Many politicians and business leaders paid rich tribute to Mistry.
“He was a promising business leader who believed in India’s economic prowess.
“His passing away is a big loss to the world of commerce and industry,” Indian Prime Minister Narendra Modi said.
Opposition leader Rahul Gandhi said Mistry was “amongst the brightest business minds of the country”.
“Deeply anguished and shocked by the sudden passing away of Cyrus Mistry.
“Indian industry has lost one of its shining stars whose contributions to India’s economic progress will always be remembered,” Indian Commerce Minister Piyush Goyal said. – Bernama, September 4, 2022
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