Business tycoon and former Tata Group chairman Cyrus Mistry died in a road accident today, while traveling from Ahmedabad to Mumbai, PTI reported citing a police officer. The accident took place on the Surya River Charoti bridge on the Mumbai Ahmedabad National Highway. Two more people were accompanying Mistry when his Mercedes car hit a divider. Other passengers in the car are reportedly injured and have been taken to a nearby hospital.
“The accident took place around 3:15 pm, when Mistry was travelling to Mumbai from Ahmedabad. The accident took place on a bridge over the Surya river. It seems like an accident,” the police official said. More details will be obtained from them, he said.
Reacting on the incident, NCP MP Supriya Sule tweeted, “Devastating news my brother Cyrus Mistry passed away. Can’t believe it. Rest in Peace Cyrus.”
Cyrus Mistry’s journey with Tata Group
Mistry had joined Tata Group in 2006 as a director and had held non-executive positions on boards of several Tata companies earlier. He, later in 2012, replaced Ratan Tata as executive chairman after the latter stepped down at the age of 75. However, he could retain his position for only four years. In October 2016, Mistry was ousted as Tata Sons Chairman. That was not the end of it. In December 2016, Mistry family-backed investment firm – Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd – moved the National Company Law Appellate Tribunal (NCLAT) against Tata Sons, alleging mismanagement and later in February 2017, he was removed removed as the Director on the board of Tata Sons as well. He was the son of construction major Shapoorji Pallonji group’s owner Pallonji Mistry, who died in June this year at the age of 93 years. Cyrus Mistry was the managing director of Shapoorji Pallonji Group before joining Tata Group.
His early life
Born on July 4, 1968, Cyrus Mistry did his graduation in civil engineering from the Imperial College of Science, Technology and Medicine, London. He also held a Master’s degree in management from the London Business School. In1991, he joined the family business and later in 1992, he married the daughter of Iqbal Chagla, one of India’s most prominent lawyers. During his two decades at the helm of Shapoorji Pallonji & Co., the firm expanded beyond traditional construction to large engineering projects, including the building of power plants and factories. The company also expanded overseas.