 |
| Indian Business Leader Cyrus Mistry |
NEW DELHI -- Indian duo , director of Tata Sons, died in an accident on Sunday after his car crashed into a road boundary in western India, police said. He was 54 years old.
Police officer Prakash Geekwad told journalists the accident occurred along a river in the Palgarh district of Maharashtra, near Mumbai.
Mistry served as managing his director of Tata Sons until October 2016, when he was relieved of that responsibility. He reconsidered the board's decision, but India's Supreme Court upheld his apology.
Legislators and business pioneers were shocked to learn of Mistry's downfall.
President Narendra Modi said Mr Mistry was a promising business pioneer who was confident in India's financial capabilities. "His death is a great tragedy for business and industry," he said.
Indian business pioneer Anand Mahindra said: "Let life have other plans for him. But life itself should not have been taken from him."
Mistry, his organization Cyrus Investments Pvt. In 2018, his total assets were approximately $10 billion.
Mistry joined the family development organization Shapoorji Pallonji and Co.
Lets also know more about his life here;
Cyrus Pallonji Mistry (04/07/1968 - 04/09/2022) was an Indian businessman. From 2012 to 2016, he was the chairman of the Tata Group, an Indian business conglomerate.
He was the sixth chairman of the group and only the second (after Nowroja Saklatwala) not to bear the surname Tata. In mid-2012, he was chosen by a selection committee to head the Tata Group and took over in December of the same year.
In October 2016, the board of Tata Group's holding company, Tata Sons, voted to remove Mistry as chairman because he was not Tata's son.Former chairman Ratan Tata then returned as interim chairman and Natarajan Chandrasekaran was appointed as the new chairman a few months later. However, in December 2019, the National Company Law Appellate Tribunal (NCLAT) declared Chandrasekaran's appointment as executive chairman illegal and reinstated Mistry.
However, the Supreme Court stayed the NCLAT decision on 10 January 2020.Mistry has filed a cross-appeal in the court seeking an explanation of the anomalies in the NCLAT. However, the Supreme Court upheld his appeal.
He owned 18.4% stake in Tata Sons through his company Cyrus Investments Pvt. Ltd. As of 2018, his net worth was approximately $10 billion. He was a member of the National Council for Integration.
