Veteran industrialist Brij Mohan Khaitan, who was till very recently the chairman of dry cell battery maker Eveready Industries and tea plantation major McLeod Russel, passed away on Saturday at the age of 92 years at his residence in Kolkata. B M Khaitan, the head of the Williamson Magor group, which controls Eveready and McLeod Russel, was suffering from old-age ailments, the report said citing sources.

West Bengal Chief Minister Mamata Banerjee offered her condolences on the demise of B M Khaitan. “Saddened at the passing away of noted industrialist BM Khaitan Ji. He was a much-respected elder statesman of the business community of Bengal. My condolences to his family, his colleagues and his friends,” she wrote in a tweet.

Khaitan was mulling selling the Eveready business, which is a 100-year-old brand, in order to raise money to pare group debt. The group’s other company McLeod Russel is the world’s largest bulk tea producer.

The industrialist had stepped down as chairman of Eveready Industries India in April this year following his resignation from the board of McLeod Russel in March.

Eveready Industries India was incorporated in 1934. The company was a subsidiary of Union Carbide Corporation, US and was acquired by B M Khaitan and the Williamson Magor group of companies in 1993.

B M Khaitan also served as the President of International Chamber of Commerce Indian National Committee between 1986 and 1987 and was a founder Member of the International Management Institute New Delhi. He was also elected as a Fellow of the Institute of Directors UK. He was also the chairman of Williamson Tea Assam since July 13, 2005 and an independent director of CESC from May 1994 till May 2018.

B M Khaitan graduated in Bachelor of Commerce from Calcutta University.