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Business Tycoon Pallonji Mistry Dies At 93; PM Pays Tribute

Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday

Photo Credit : Bloomberg

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Shapoorji Pallonji Group's head Pallonji Mistry died at his residence, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.

He died mid-sleep at his south Mumbai residence on the intervening night of Monday and Tuesday, the officials said.

The business tycoon assisted in the development of the SP With gathering to the Middle East nations, including Abu Dhabi, Qatar and Dubai, in 1970. In 1971, the organisation won its most memorable abroad project to construct the royal residence of the Sultan of Oman, which was finished in 1976. Following this, the organisation fabricated numerous ecclesiastical structure in the area. The organisation turned into a conglomerate under his supervision, and gave arrangements in land, water, energy and monetary administrations.

Prime Minister Narendra Modi, who visited Germany to attend the G7 summit, also paid tribute to Pallonji Mistry. PM Modi tweeted, 'Shocked by the news of Pallonji Mistry's demise. He made a memorable contribution to the world of commerce and industry. My condolences to his family, friends and countless fans. may his soul rest in peace.'