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Pallonji Mistry made 'monumental contributions': PM Modi leads rich tributes
Business tycoon Pallonji Mistry died at his Mumbai home at the age of 93. He was a Padma Bhushan recipient.
Construction tycoon Pallonji Mistry made "monumental contributions" to the world of commerce and industry, Prime Minister Narendra Modi said on Tuesday, paying rich tributes to the one of the oldest billionaires the country has seen. He died on Monday night at his Mumbai home. Pallonji Mistry, who headed the Shapoorji Pallonji Group, was also known to be the largest shareholder in the Tata Group.
"Saddened by the passing away of Shri Pallonji Mistry. He made monumental contributions to the world of commerce and industry. My condolences to his family, friends and countless well-wishers. May his soul rest in peace," PM Modi tweeted.
The celebrated industrialist had won Padma Bhushan - the third highest civilian award in India - in 2016. He was credited for the success of the real estate giant Shapoorji Pallonji Group, which was founded in 1865.
Many other leaders remembered Pallonji Mistry in rich tributes. "Deeply saddened by the demise of Shri Pallonji Mistry. He contributed immensely to the Indian economy. My sincere condolences to his family & friends. May his soul rest in peace," health minister Mansukh Mandaviya wrote on Twitter.
"Deeply saddened to hear about the passing away of noted industrialist & Shapoorji Pallonji Group Chairman Sh Pallonji Mistry Ji.
Sincerest condolences to his family, friends & colleagues. (sic)," union minister Hardeep Singh Puri tweeted. "Deeply saddened on the unfortunate demise of Shri Pallonji Mistry. His invaluable contribution to infrastructure development, commerce & industry will never be forgotten. My condolences to his family & friends. OM Shanti," Union minister Nitin Gadkari tweeted.
Pallonji Mistry was known to be reclusive and kept a low profile. He had a net worth of USD 13 billion. according to latest Forbes data. He is survived by his four children - Shapoorji Mistry, Cyrus Mistry, Laila Mistry and Aloo Mistry.
Shapoorji Mistry heads the Shapoorji Pallonji And Company Pvt. Ltd. Cyrus is the former chairman of Tata Sons, and he was also at the heart of Mistry vs Tatas corporate battle.
