Kathmandu: India’s prime minister has described the death of the billionaire former chairman of Tata, the country’s largest conglomerate, as a “big loss” for the business world.
As reported by BBC News, Cyrus Mistry died on Sunday in a road accident while travelling to Mumbai.
One other person was killed and two more passengers were injured.
Mistry, who was 54, was ousted as Tata chairman in 2016, following criticism of his performance.
He was replaced by Ratan Tata – the man who Mistry had himself replaced just four years earlier.
The company operates in more than 100 countries – offering products including salt, steel and software – and had a revenue of $130bn (£110bn) last year.
Mistry and his companions were travelling in a Mercedes car through the Palghar district of Maharashtra when the accident happened on Sunday afternoon.
The vehicle is said to hit a divider in the road, while crossing a bridge over a river, and Mistry subsequently died at the crash scene, reported BBC.
At least two others were taken to hospital.
(News Source: BBC)