Pallonji Mistry (1929-2022) was an Indian-born Irish businessman and the former Chairman of the Shapoorji Pallonji (SP) Group. As of 2021, he is the ninth richest businessman in India and the richest Irishman. He died of natural causes on June 28, 2022, at the age of 93.
Wiki/Biography
Pallonji Shapoorji Mistry was born on Saturday, June 1, 1929 in Bombay, the Presidency of British India (now Mumbai, Maharashtra, India). He was 93 years old. His zodiac sign is Gemini. After completing his education at Bombay Cathedral and John Connon School, he pursued higher education at Imperial College London.
family
Pallonji Shapoorji Mistry was born into a Parsi family in Gujarat.
Parents and siblings
His father Shapoorji Pallonji Mistry is the founder of Shapoorji Pallonji & Company Ltd.
wife and children
His wife, Pat Perin Dubash, is an Irish citizen and an interior designer. His son Shapoor Mistry is the chairman of SP Group. His son Cyrus Mistry, the former chairman of Tata Group, died in a fatal car accident near Mumbai on September 4, 2022. His daughter Laila Rustom Jehangir is a director of Kavisha Holdings Private Limited. His daughter Aloo Noel Tata married Ratan Tata’s half-brother Noel Tata.
Photos of Pallonji Shapoorji Mistry with son, daughter and wife
religion
Palonji Shapurji Mistry believed in Zoroastrianism.
Profession
Pallonji Shapoorji Mistry joined his father’s Shapoorji Pallonji & Company Ltd at the age of 18 and started his career as a businessman in 1947. After his father’s death in 1975, Pallonji assumed the position of Chairman of Shapoorji Pallonji & Company Ltd. , the company contracted to build the palace of the then Sultan Qaboos bin Said Al Said of Oman. After the palace was completed in 1976, Shapoorji Pallonji & Company Ltd became the first Indian construction company to complete a project abroad. Following its success in Oman, the company has signed contracts with a number of Asian, African and Middle Eastern countries. The company has also built famous landmarks in India such as the Reserve Bank of India (RBI) Building, Bombay Stock Exchange (BSE) Building, Taj Mahal Palace Hotel and Braben Stadium. He has served on the Board of Directors of several organizations, including United Bank of India, WH Brady Group of Companies, The Associated Cement Companies Ltd. and Tata Sons. Shapoorji Pallonji & Company Ltd established various businesses under its umbrella; thus, it became the Shapoorji Pallonji (SP) Group.
On April 22, 1987, he became a director of Shapoorji Pallonji & Company Ltd. On April 4, 1994, he became a director of Shapoorji Pallonji Finance Limited. On November 17, 1995, he was appointed as a Director of Sterling Investment Corporation Private Limited. On November 20, 1995, he was appointed as Director of Shapoorji Pallonji And Company (Rajkot) Private Limited. He became a director of Shapoorji Pallonji Infrastructure Capital Private Limited on November 6, 1997. Pallonji became a director of Afcons Infrastructure Limited on April 26, 2000. After the Shapoorji Pallonji (SP) Group acquired Eureka Forbes Ltd, Pallonji became its director on April 15, 2000. March 2002. On May 28, 2003, his company was incorporated as Sovereign Pharma Private Limited, of which he subsequently became a director. director. He also served as Chairman of Associated Cement Company (ACC) Limited. Citing ill health and old age, Pallonji resigned as chairman of the Shapoorji Pallonji (SP) Group in 2012 and appointed his eldest son Shapoor Mistry as chairman.
Pallonji Mistry with his Shapoor Mistry
The feud between the Tatas and the Mistrys
In 2016, SP Group took the Tata family to court after Cyrus Mistry was ousted as chairman of Tata Sons. In July 2020, SP Group pledged 18.3% of its shares to Brookfield, which Pallon’s father had purchased in the 1930s, to raise debt worth Rs 3,750 crore to ensure the livelihood of SP Group workers during the COVID-19 pandemic. SP Group said,
The Mistry family is raising funds against personal assets. This move is to protect the livelihood of 60,000 employees and more than 100,000 migrant workers. Tata Sons’ move to block this important financing, with no regard for any collateral consequences, is the latest manifestation of their revengeful mentality. “
Later, Tata Sons approached the Supreme Court seeking intervention to stop SP Group from doing so. In September 2020, the Supreme Court ruled in favor of Tata Sons. SP Group subsequently issued a statement saying that it would part ways with Tata as the coexistence between the two parties no longer produced fruitful results. SP Group said in its official statement,
It is not feasible for the two groups of Tata Sons to coexist…it must be separated from the Tata Group. The current situation has forced the Mistry family to sit down and reflect on the past, present and possible future for all stakeholders. Tata Sons’ past acts of oppression and this latest retaliatory move have affected the livelihoods of the wider SP Group community, leading to the puzzling conclusion that it is impossible for the two groups of Tata Sons to coexist. “
Padmasambhava
Pallonji Shapoorji Mistry was awarded Padma Bhushan, India’s third highest civilian award, by the Government of India in 2016.
Pallonji Shapoorji Mistry receives Padma Shri from President Pranab Mukherjee
characteristic
He owns a stud farm covering 200 acres (0.81 km2) of land in Pune, Maharashtra. He built a 10,000 sq ft (930 sq m) house in Pune. In Mumbai, he owns a mansion with an area of 99,99,672 square feet. He also has properties in Dubai, London and Surrey.
net worth
As of 2022, Pallon Mistry’s net worth is estimated to be $15 billion.
die
Pallonji Shapoorji Mistry passed away on June 28, 2022, at the age of 93. He died of natural causes while sleeping at his residence in Mumbai around 1 am. Prime Minister Narendra Modi expressed his condolences:
I was shocked by the news of Pallonji Mistry’s tragic passing. He made unforgettable contributions to business and industry. My condolences go out to his family, friends and countless fans. May his soul rest in peace. “
Facts/Trivia
- He is also known as the “Ghost of Bombay House”.
- In 2003, he renounced his Indian citizenship and obtained Irish citizenship.
- In 2006, Pallonji and his wife established a nursing home at BD Petit Parsee Hospital in Mumbai.
- Palonji occasionally drinks alcoholic beverages.
Categories: Biography
Source: HIS Education