Cyrus Mistry dies at 54: The business tycoon who headed Tata Sons and fought a legal battle with them

You must have heard of Cyrus Mistry from the business tycoon's infamous tussle with the Tata Group. Mistry, 54, passed away in a car accident on Sunday, September 4, 2022. He was travelling from Ahmedabad to Mumbai when the accident took place. 

The accident:

Ahmedabad-Mumbai trip turns fatal for ex-Tata chief, friend.
Cyrus Mistry killed on the spot after crash.#FirstUp #CyrusMistry @Akshita_N pic.twitter.com/M8p0QBnBfT

— IndiaToday (@IndiaToday) September 5, 2022

When: Around 3.15 pm on September 4, 2022.

Where: At Charoti in Palghar, Maharashtra, while returning from Ahmedabad to Mumbai.

Co-passengers: Cyrus Mistry was travelling with 3 other people, family friends, Darius Pandole, his wife Dr Anahita Pandole and Darius's brother Jehangir Pandole. Jehangir Pandole did not survive the accident either. The other two passengers are said to be badly injured and receiving treatment. 

What happened: They were travelling in a Mercedes GLC 220 D after visiting the Udwada Fire Temple, one of the main temples for the Parsi people in India. According to reports, renowned gynecologist, Dr Anahita Pandole, was driving the car. Pandole reportedly tried to overtake another car from the left when she lost control and crashed into a divider. Those sitting in the backseat - Mistry and Jehangir Pandole - did not survive the accident. 

Maharashtra | Former Chairman of Tata Sons, Cyrus Mistry died in a car crash at around 3pm in the Palghar area today

A total of four people were travelling in the vehicle; two, including Cyrus Mistry, died, said police. pic.twitter.com/n48hZirTeQ

— ANI (@ANI) September 4, 2022

Who was Cyrus Mistry? Cyrus Mistry is survived by his wife, Rohiqa Chagla and two sons. His untimely and sudden death sent shockwaves across the country. Prime Minister Narendra Modi said that Mistry's passing "is a bog loss to the world of commerce and industry".

The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace.

— Narendra Modi (@narendramodi) September 4, 2022

Tata Sons Chairman N Chandrasekaran also expressed his condolences and said, "He had a passion for life."

The Mistry Family

Cyrus Mistry is an Irish citizen of Indian descent who hails from a well-established business family based in Mumbai. His family business, the Shapoorji Pallonji group, a conglomerate, was started way back in 1865. It first began as a construction business and later diversified into various streams. 

Cyrus Mistry's father Pallonji Mistry served as the head of the conglomerate till his death in June, 2022. 

The Shapoorji Pallonji Group is behind some of the most iconic buildings in India, including the RBI bank, Taj Mahal hotel, etc. 

Shapoorji Pallonji construction business registered many firsts in India under #CyrusMistry .

Construction of the tallest residential towers

Largest housing project

Longest rail bridge

Largest dry dock

His demise is a great loss to our nation.

May his soul rest in peace. pic.twitter.com/n4QhHO1Rxa

— P C Mohan (@PCMohanMP) September 4, 2022

It is a $30-billion company, which owns 18.6% stake in the Tata Group. The company was founded by Cyrus Mistry's great-grandfather, Senior Pallonji Mistry as Littlewood Pallonji & Co.

Education: Mistry completed his higher education in England after graduating from Bishop Cathedral & John Connon School in Mumbai. He earned an undergraduate degree in civil engineering from the Imperial College London and then a master's degree in management from the London Business School.

Career: Cyrus Mistry became the director of Shapoorji Pallonji and co. ltd in 1991. He is credited with taking the family's business beyond pure construction. 

In 2006, Cyrus Mistry took his father's seat at the Tata Group board after the latter's retirement. His grandfather, Shapoorji Mistry, was the first to acquire stake in Tata Sons in the 1930s. 

In 2011, Cyrus Mistry was groomed for the post of Tata Sons Chairman. He was made the deputy chairman in 2011, following which he resigned from his role at Shapoorji Pallonji Group. He became the chairman of Tata Sons in 2012 after the retirement of Ratan Tata. 

Cyrus Mistry and Tata Sons: Tata Sons is the owner of the $300-billion group. When Cyrus Mistry was made the chairman of one of India's biggest businesses, he was the first non-Indian and only the second non-Tata leader, to take over the top post. 

Though, Cyrus Mistry was hailed for being one of the very few non-Tata Chairman of Tata Sons, in reality, the tycoon was already well entrenched into the Mumbai business society and was related to the Tata family by marriage. One of his sisters had married Noel Tata, Ratan Tata's half-brother and a leading executive at the Tata Group. 

Cyrus Mistry was known as the 'most low profile man with the most high profile job'. He was known to be a media recluse and only opened up to interviews following his dismissal at Tata Sons. 

Cyrus Mistry's tenure at Tata Sons was also short lived and the shortest for a Tata Sons's chairman. The tensions between Mistry and Tata became well known in India and resulted in years-long legal battle which ended in the Supreme Court siding with the Tatas in 2021. Recently, the SC also dismissed a review petition filed by Cyrus Mistry in the case.

Cyrus Mistry served as the chairman at Tata Sons from 2012 to 2016. He was fired from the post following several disagreements over business practices. He owned 18.4% stake in Tata Sons through his company, Cyrus Investments Pvt. Ltd. In 2020, the Shapoorji Pallonji Group tried to sell its stake in Tata Sons, but it was blocked by the latter company. 

Mistry believed the legal battle was not a short-term fight.

Cyrus Mistry's tragic death comes just months after the Shapoorji Pallonji Group lost Palloji Mistry. Currently, Mistry's brother Shapoor Mistry heads the business operations at the SP Group. 

Cyrus Mistry's funeral will be held on September 6 at 11 am.