Shapoorji Pallonji Group Chairman Pallonji Mistry has passed away at the age of 93. He played a big role in strengthening the group. Due to his death, there has been a wave of mourning in the entire industry.

Veteran industrialist and Chairman of Shapoorji Pallonji Group Pallonji Mistry has passed away at the age of 93. Company sources said that he breathed his last in mumbai on monday night. Pallonji Mistry played a big role in building and strengthening the group. There is a wave of mourning in the industry due to his death. Company officials say that he stopped breathing while sleeping at his home in south mumbai on the intervening night of Monday-Tuesday.

Large stake in Tata Sons

According to the Bloomberg Billionaires Index, Mistry had a net worth of about $29 billion, which puts him in the list of the country's biggest billionaires. Most of his family's wealth has come from a large stake in Tata Sons. Shapoorji Pallonji Group's business is spread across the areas of Engineering-Construction, Infrastructure, Real Estate, Water, Energy and Financial Services.

There are more than 50 thousand employees associated with the group and this group provides its services in 50 countries of the world. The Pallonji family holds an 18.4% stake in Tata Sons, the holding company of the Tata Group.

SP Group built Taj Palace Hotel

The building of the Tata-owned taj mahal Palace Hotel in mumbai was also built by the SP Group. Apart from this, the Reserve bank building in mumbai has also been erected by this group. Not only this, this group has also built the building of many ministries there including the palace of the sultan of Oman.

Son took over the throne in 2004

Pallonji Mistry handed over the responsibility to his elder son Shapoor in the year 2004 and himself came in the role of support. Last year, the group sold its consumer durables business running the name of Eureka forbes to a US-based firm.

The family came into limelight because of Cyrus Mistry

Pallonji Mistry and his family came into the limelight in 2012 when his younger son cyrus mistry was elected as the chairman of the Tata Group, succeeding Ratan Tata. However, with a major controversy, Cyrus was removed from the post in october 2016. Last year, the supreme court also ruled against cyrus mistry and justified his removal from the post.