Cyrus Mistry was travelling from Ahmedabad to Mumbai in a Mercedes car in Maharashtra’s Palghar on Sunday, said police. He was 54. Mistry is survived by his wife Rohiqa and have two sons, Firoz Mistry and Zahan Mistry.
The accident happened when the car hit the road divider at Charoti area of Palghar, 135 km from Mumbai. The accident took place on a bridge over the Surya river. It seems an accident,” said Palghar district superintendent of police, Balasaheb Patil.
Along with Mr Mistry, Jehangir Pandole, Anahita Pandole and Darius Pandole were present in the car. Jehangir Pandole, a relative of Darius Pandole, is the other person who died in the accident.
Darius Pandole was an independent director in Tata group firms and had opposed the removal of Mr Mistry as the company’s chairman. He also left the Tata group with Mr Mistry. Darius is Anahita’s husband and Jehangir was her father-in-law. Anahita Pandole was driving the car. Anahita and Darius Pandole are being airlifted to Mumbai’s Breach Candy hospital.
“The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace,” tweeted Prime Minister Narendra Modi.
The Mistry family empire – comprising mainly of real estate and its shareholding in the Tata Group- has collectively developed magnificent hotels, stadiums, palaces, and factories throughout Asia. Cyrus Mistry shot to fame after he was named the scion to lead the Tata Group but later this position triggered one of the most talked about corporate rivalries in the country.
Cyrus Mistry 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 Mistrys and Tatas.
The country’s top court ruled in 2021 that Cyrus’s ouster was legal and also upheld Tata Sons’s rules on minority shareholder rights, which made it difficult to sell shares without board approval. That meant the stake, worth almost $30 billion in early 2022, was basically illiquid.N Chandrasekaran, chairman of Tata Sons who succeeded Mr Mistry, condoled the business leader’s “untimely demise”. “I am deeply saddened by the sudden and untimely demise of Mr. Cyrus Mistry. He had a passion for life and it is really tragic that he passed away at such a young age. My deepest condolences and prayers for his family in these difficult times,” Mr Chandrasekaran said in astatement
