Mistry, aged 93 years old, was the largest individual shareholder in the Tata Group with 18.4 per cent shareholding. 
Mistry, aged 93 years old, was the largest individual shareholder in the Tata Group with 18.4 per cent shareholding. Billionaire Pallonji Mistry, chairman of Shapoorji Pallonji Group, died in the wee hours of Tuesday at his Mumbai residence, as per company officials. Mistry, aged 93 years old, was the largest individual shareholder in the Tata Group with 18.4 per cent shareholding.
Vedanta Resources chairman Anil Agarwal commented on the passing away of Pallonji Mistry. Agarwal said that Mistry was “instrumental in driving India’s growth story”. Agarwal wrote, “Sad day for our Indian business community. Shri Pallonji Mistry has been instrumental in driving India’s growth story. A humble man and creator of prominent infrastructure projects, including in our city of dreams. My sincerest condolences to his family. RIP.”
Here are some more reactions on Pallonji’s death
The reclusive corporate titan, worth over $13 billion, was awarded with Padma Bhushan in 2016. He is survived by four children – Shapoor Mistry, Cyrus Mistry, Aloo Noel Tata and Laila Rustom Jehangir.
Cyrus Mistry succeeded Ratan Tata as the Chairman of the Tata Group before being ousted by the board 2016. Mistrys have been challenging Cyrus’ removal and have also offered to exit their holding in the Tata Group in midst of legal battles.
His funeral service will be held on Wednesday, followed by the ‘Uthamna’ ritual as per Parsi conventions at the Tower of Silence in South Bombay’s Kemps Corner.
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