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Industrialist Pallonji Mistry passes away

Mumbai, Jun 28 (UNI): Shapoorji Pallonji group chairman and billionaire industrialist Pallonji Mistry passed away at his south Mumbai residence early on Tuesday, the officials informed. He was 93.

Pallonji, known as the Phantom of Bombay House within the corporate world, was at one time the largest individual shareholder in the Tata Group with 18.4 per cent holding in the conglomerate.

He was the chairman of the Shapoorji Pallonji Group via which he owned Shapoorji Pallonji Construction Limited and Forbes Textiles.

Mistry’s life was captured in the form of a biography The Moguls of Real Estate by Manoj Namburu in 2008.

He was awarded the coveted Padma Bhushan in January 2016 for his contributions in the field of trade and industry.

Earlier this year in April, Shapoorji Pallonji Mistry and six other directors resigned from the board of Eureka Forbes with the owner Lunolu Ltd taking control of the vacuum cleaner and water purifier maker.

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