Friday, August 19, 2022

Business Tycoon Pallonji Mistry Dies Age Of 93 Group Business Spread To…

Shapoorji Pallonji Death: Pallonji Mistry, chairman of Shapoorji Pallonji Group, passed away last night at the age of 93 in Mumbai. Shapoorji Pallonji Group is one of the most reputed business houses in the country. More than 150 years old, Shapoorji Pallonji Group is one of the largest business companies in India and its success is attributed to reclusive billionaire Pallonji Mistry. Whose business is spread in many other fields including construction, engineering, real estate. According to the information, about 50 thousand people work in Shapoorji Pallonji Group. The business of this company is spread in fifty countries around the world. He was one of the oldest billionaires of India. Born in a Parsi family of Gujarat, this business tycoon died last night in Mumbai.

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Pallonji Mistry was also awarded the Padma Bhushan in the year 2016 for his outstanding contribution to the business world. Pallonji Mistry’s son Cyrus Mistry was once appointed as the chairman of Tata Sons. Cyrus Mistry served as the chairman of Tata Sons between 2012 and 2016. But after the controversy, he had to step down from this post.

18.37% stake in Tata Sons

Shapoorji Pallonji Group’s mother-in-law holds 18.37 percent stake in the country’s reputed company Tata Sons. A few years ago, Cyrus Mistry, son of Pallonji Mistry, was appointed as the chairman of Tata Sons. But later he had to resign from his post due to controversy. It is noteworthy that this dispute between Tata Sons and Cyrus Mistry was settled only after the intervention of the court. After this whole controversy, he wanted to sell his entire stake in Tata Sons. According to the information, Shapoorji Pallonji Group is currently going through a financial crisis. The debt burden on the company is increasing continuously. In such a situation, the company wants to sell his stake in Tata Sons to lighten the burden of debt.

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Who is Pallonji Mistry?

Pallonji Mistry was born in the year 1929. It is famous about him that he is the most anonymous billionaire in the world. Pallonji Mistry has assets worth 55 thousand crores. He is the 41st richest person in the world. Despite having so much wealth, he is hardly seen or heard in any public forum. He acquired Irish citizenship after Pallonji Mistry married an Irish woman. He is the richest man in Ireland. Apart from son Cyrus Mistry in his family, he also has two daughters Laila and Aloo Mistry.

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