Cyrus Mistry, the non-Tata who joined the Tata family
The automobile of former Tata Sons chairman Cyrus Mistry collided with a barrier in the Palghar region outside of Mumbai, resulting in Mistry’s death.
An officer from the Maharashtra police department said on Sunday that former Tata Sons chairman Cyrus Mistry was murdered after his automobile collided with a barrier in the Palghar area, which is located in close proximity to the city of Mumbai.
According to a police spokesman, “the accident took at about 3.15 pm, as Cyrus Mistry was travelling to Mumbai from Ahmedabad in a Mercedes automobile.” Mistry is the former chairman of Tata Sons. The incident happened on a bridge across the Surya River. It looks like a freak occurrence.” According to a report by the PTI news agency, the police officer also revealed that the car’s driver and the other passenger had been hurt in the incident, and that all three had been sent to a hospital in Gujarat for treatment.
Exactly who was Cyrus Mistry?
In 2011, Cyrus Mistry was named as the successor to Ratan Tata, the group’s long-standing chairman, making him the first non-Tata to oversee one of India’s most historic corporate organisations. The hunt for Ratan Tata’s successor reportedly took 15 months and included a five-man selection panel on which Mistry served.
According to a Reuters article, Mistry’s father, Pallonji Mistry, who founded the company with his sons in the 1930s, has the biggest single interest in the company (18.5%), which is otherwise managed through trusts. Cyrus Mistry was married into the Tata family as Noel Tata’s brother. Reuters stated that Mistry’s father, a reclusive billionaire worth an estimated $7.6 billion, prepared the path for his son to take over the family business that was started by Ratan Tata’s grandfather.
I’ve been pleased by his thoughtful contributions, keen insights, and modest demeanour “In 2011, Ratan Tata was reportedly cited as stating. The selection committee apparently agreed, and Cyrus Mistry now works alongside Ratan Tata as vice chairman of Tata.
It is worth noting that the Supreme Court denied Cyrus Mistry’s review petition in the Tata v. Mistry case back in May of this year. The Supreme Court denied SP Group’s request to rehear their appeal of the 2021 ruling that upheld Cyrus Mistry’s dismissal as head of Tata Sons. However, in March 2021, a bench presided by by Chief Justice N V Ramana ordered the removal of several comments made against Cyrus Mistry from the judgement.