Former Tata Sons head Cyrus Mistry dies in car crash

Cyrus Mistry, a publicly-shy tycoon who once headed the Tata Group, died on Sunday afternoon in a road accident. The car he was traveling in apparently hit a culvert-cum-divider on a highway in Palghar district of Maharashtra, adjacent to Mumbai. A statutory probe has been ordered in the case.

“The accident took place around 3.15 pm, when Mistry was travelling to Mumbai from Ahmedabad. The accident took place on a bridge over the Surya River. It seems like an accident,’’ said a senior Palghar district police official.

When he died Cyrus, 54, was battling two disappointments. His larger-than-life father Pallonji Shapoorji Mistry, who it is said, once called the shots at Tata House, passed away just over two months back in July. In May, the Supreme Court dismissed his final petition against his removal as the Tata Sons Chairman in 2016.

NCP leader Supriya Sule, one of the few who stood by him during those tumultuous boardroom battles and backroom intrigues, was the first to mourn his death. “Devastating News. My Brother Cyrus Mistry passed away. Can’t believe it,’’ she tweeted.

Soon, led by Prime Minister Narendra Modi, political leaders and businesspeople tweeted their condolences. “The untimely demise of 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,’’ said the PM.

Little was known about Cyrus till a search committee decided he was best placed to fill the shoes of Ratan Tata when latter reached the 75-year cap in 2012. The rule was once wielded to retire Tata Steel chief Russi Mod who did not have the Tata surname and could never head Tata Sons. But Mistry became the first who was not a Tata, pipping Ratan’s half-brother Noel Tata who is married to his sister.

Not much was known about him after he became the Tata Group chief either as Cyrus did not give any interview. As he was nearing his fourth year as Tata Group chief, intrigues built up in the corridors of Bombay House. Amidst rumours that the last nail was his plan to shut down the Nano car plant a year before the Gujarat elections in 2017, the Tata Board removed him by a majority decision.

If Cyrus’ father diversified their family firm’s construction business into specialty areas such as making the outer cladding of nuclear power units, his grandfather’s astute investments in Tata Sons in the 1930s saw their holding grow to 18.4 per cent, making the family the biggest single shareholder of the Tata group.

While Cyrus went back to his family businesses that were largely being helmed by his elder brother, he had a brief moment of vindication in 2019 when the National Company Law Appellate Tribunal reinstated him as the Chairperson for Tata Sons. But the Supreme Court reversed the decision and then rejected his review petition in May this year. PTI