Business

Pallonji Mistry, chairman of Shapoorji Pallonji group, dies at 93

Pallonji Mistry, head of the Shapoorji Pallonji group, passed away late last night at his residence in Mumbai. He was 93 at the time of his passing.

The largest individual shareholder in the Tata Group with an 18.4 percent 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 construction, real estate, textiles, engineered goods, home appliances, shipping, publications, power, and biotechnology, according to its website.

In 2016, Mistry was awarded the Padma Bhushan, one of India’s top civilian awards.

Following the news of his demise, Prime Minister Narendra Modi condolences to his family and friends.

“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,” he tweeted.

Born in a Parsi family in Gujarat in 1929, the Shapoorji Pallonji Group, under Pallonji Mistry’s watch, has built some of the iconic structures in Mumbai, including the Reserve Bank of India building, the State Bank of India building, and The Taj Mahal Palace hotel buildings.

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