Cyrus Mistry, the former chairman of Tata Sons, was killed in a car crash on Sunday after hitting a divider in the Palghar region, which is close to Mumbai. This information was provided by a Maharashtra police official. According to a police officer, Cyrus Mistry was driving a Mercedes from Ahmedabad to Mumbai when the accident occurred at around 3.15 p.m. Cyrus Mistry was traveling from Ahmedabad to Mumbai.
The Surya river bridge was the site of the disaster. It appears to be a mishap. According to a report from news agency PTI, the police official also said that the two other people who were traveling with him, including the car’s driver, were hurt and that all of the injured people had been transported to a hospital in Gujarat.
While Cyrus Mistry’s last name may not have been Tata, he is as close to an outsider as one could get and was named in 2011 as Ratan Tata’s heir apparent to head one of India’s most illustrious commercial conglomerates. A five-person selection team, which included Mistry, reportedly spent 15 months looking for Ratan Tata’s replacement, according to a story from Reuters.
The largest individual stakeholder in a company that is primarily managed by trusts, Cyrus Mistry’s father, Pallonji Mistry, holds 18.5% of the shares that his grandfather initially purchased in the 1930s, according to the Reuters story. Ratan Tata’s half-brother Noel Tata was married to Cyrus Mistry. The Reuters story stated that Mistry’s father, a reclusive billionaire with an estimated wealth of $7.6 billion, helped his younger son get to the top of a company founded by Ratan Tata’s great-grandfather.
Ratan Tata was quoted as saying in a statement back in 2011, “I have been impressed with quality and caliber of his involvement and his humility.” Cyrus Mistry received reportedly unanimous approval from the selection committee, and he later advanced to the position of deputy chairman of Tata and worked with Ratan Tata.
It is significant to remember that the Supreme Court earlier this year, in May, rejected Cyrus Mistry’s demand for a review of the Tata v. Mistry legal case. The Supreme Court rejected the SP group’s request for a review of the 2021 decision upholding Cyrus Mistry’s ouster as CEO of Tata Sons. However, a panel led by Chief Justice N V Ramana directed that some statements made in the March 2021 verdict against Cyrus Mistry be removed.
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