Mistry family patriarch Pallonji passed away two months ago
Team News Riveting
Mumbai, September 4
Former Tata Sons Chairman Cyrus Mistry died in a road accident Sunday afternoon after his car hit a divider in Maharashtra’s Palghar district.
The 54-years-old businessman was travelling from Ahmedabad to Mumbai in a Mercedes car when the mishap took place at around 3.15 pm. “The accident took place on a bridge over the Surya River. It seems an accident,” said Palghar District Superintendent of Police Balasaheb Patil.
The other two persons travelling with him, including the car driver, were injured. All the injured persons have been shifted to a hospital in Gujarat, he said.
The news is the latest blow for the Mistry family whose patriarch, Pallonji Mistry — Cyrus’s father — died on June 28 at the age of 93. The group had been associated with building luxury hotels, stadiums, palaces and factories across Asia. However, it came to the limelight recently for a corporate feud with the Tata Group.
Pallonji Mistry had accumulated a net worth of almost $29 billion at the time of his death, making him one of the richest men in India.
Cyrus was named Chairman of Tata Sons in 2012. His shock ouster in 2016 triggered a very public, years-long courtroom and boardroom battle between two of India’s most storied corporate clans–the Tatas and the Mistrys.
In the brief period that he helmed the Tata Group, Cyrus had launched a series of actions that renewed salt-to-software conglomerate approach towards consumers. Under his watch, the Tatas looked to find new ways to understand consumers and address their grievances.
