Pallonji Mistry, chairman of Mumbai-based conglomerate Shapoorji Pallonji, died on Tuesday morning at his residence in Mumbai. Pallonji was 93 years old at the time of his passing. He passed away in his sleep, company officials told PTI.
Pallonji was the largest shareholder in the Tata Group with 18.4 per cent holding in the conglomerate and is also known as the Phantom of Bombay House within the conglomerate. He was the chairman of the Shapoorji Pallonji GroupShapoorji Pallonji Group via which he owns Shapoorji Pallonji Construction Limited and Forbes Textiles.
He was the former chairman of the Eureka Forbes and Associated Cement Companies. Mistry's life was captured in 2008 in the form of a biography The Moguls of Real Estate by Manoj Namburu. He was awarded the coveted Padma Bhushan in January 2016 for his contributions to the trade and industry field.
In April, Shapoorji Pallonji Mistry and six other directors resigned from the Eureka Forbes board, with the owner Lunolu Ltd taking over the vacuum cleaner and water purifier maker. Eureka Forbes works with brands like Aquaguard and Forbes.
Mistry is survived by two sons and two daughters. The elder son, Shapoor Mistry, runs the Shapoorji Pallonji GroupShapoorji Pallonji Group while his younger son, Cyrus Mistry, served as chairman of the Tata Group for a couple of years. The elder daughter of Mistry is Laila and his younger daughter Aloo is married to Ratan Tata's half-brother Noel Tata.