Former Tata Sons chairman Cyrus Mistry, 54, was killed in a car crash close to Mumbai's financial district, according to Indian authorities.
In a boardroom takeover in 2016, Mistry was fired as chairman of Tata Sons, the holding company of the $300 billion Tata conglomerate, which produces everything from salt to software. This sparked a protracted legal battle, in which India's top court ultimately decided in favor of Tata Group.On Sunday afternoon, the tragedy happened in Palghar, which is 62 miles (100 kilometers) north of Mumbai. B Patil, the top police official in the Palghar district, claimed that Mistry and three other people were traveling from Gujarat to Mumbai.
According to a top Mumbai police official, Mistry died at the scene when his car collided with a divider.
After hearing of Mistry's passing, a number of well-known politicians and businessmen tweeted their condolences. Mistry's death, according to Prime Minister Narendra Modi, was unexpected and shocking.
He was a bright businessman who had faith in India's ability to prosper economically. The worlds of business and industry have suffered greatly since his passing, Modi said.An inquiry for comment was not immediately answered by Tata Sons or the Mistry family.
The majority-owned Tata Sons company, Tata Consultancy Services, expressed its sorrow over the unexpected passing of its former chairman and sent its "deepest condolences and prayers" to his family and friends.
According to a statement from TCS, "He was a warm, courteous, and cheerful person who created a solid relationship with the TCS family during his term as the company chairman."
Mistry served as the second non-Tata chairman and the group's sixth chairman since the conglomerate's founding more than 150 years ago. He was Ratan Tata's half-brother, Ratan Tata's predecessor as chair, and the brother-in-law of Noel Tata.In the 1930s, Mistry's grandfather made his first investment in Tata Sons stock. The Shapoorji Pallonji (SP) Group, founded by Mistry's father, is today the largest stakeholder in a company that is primarily owned by trusts with a holding of close to 18 percent.Billionaire Pallonji Mistry, who was of Indian descent, passed away in June. According to its website, the engineering tycoon The SP Group, which was founded more than 150 years ago, now employs more than 50,000 people across more than 50 nations. The Reserve Bank of India, the Oberoi Hotel in Mumbai, and the blue-and-gold Al Alam palace for the Sultan of Oman are just a few of its iconic projects.
Following his dismissal, the long-standing partnership between SP Group, one of the largest construction companies in the nation, and Tata Group became strained, and SP Group has since sought to "separate its interests" from Tata Sons.
When Mistry was appointed, fund managers Reuters consulted said he wasn't well-known in the corporate world.Mistry, who earned degrees in management and civil engineering from the London Business School and Imperial College, respectively, described himself as a voracious reader of business literature, an avid golfer, and a horse enthusiast.
Requests for comment on Mistry's passing from Reuters went unanswered by SP Group right away.
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