Srichand Parmanand Hinduja, the eldest of the four Hinduja brothers and chairman of Hinduja Group, died in London on May 17. He was unwell for some time. He was 87.
SP Hinduja, the family patriarch, lost his wife Madhu in January this year. She was 82. He is survived by his daughters, Shanu and Vinoo.
"Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and chairman of Hinduja Group, Mr S P Hinduja today," a spokesperson for the family said.
"He was a visionary and mentor to the family bestowing the founding principles and values of our late father, PD Hinduja. He played a very important role alongside his brothers in building a strong relationship between his host country, the UK and his home country, India.
"A titan amongst his peers, SP Hinduja truly lived and embodied the Hinduja Group’s founding principles and values. A deeply spiritual and philanthropic person, he was courageous in action and generous at heart.
"His loss has left a huge void as the brothers have always been four bodies and one soul.
The Hinduja Family is in grief and sorrow at his demise. Our prayers to the Almighty to grant his soul eternal place at His Lotus Feet.
Om Shanti, Om Shanti, Om Shanti," the spokesperson further added.
In 1980, Hundujas' acquired a stake in Indian truck and bus manufacturer Ashok Leyland. They also took control of the Gulf Oil International Company from Chevron Corp to venture into the oils and lubricants business.
In 1993, SP Hinduja ventured into banking, with IndusInd Bank. The then Finance Minister Manmohan Singh was invited to the inauguration of the bank.
In the following year, he founded the only Indian-owned Swiss bank, S P Hinduja Banquee Privee, which has its headquarters in Geneva, Switzerland. With branches in Zurich, London, and Dubai, the bank offers investment advisory and wealth management services to big businessmen and entrepreneurial clients.
The Hinduja family patriarch and his brothers, Gopichand and Prakash, were accused of receiving nearly SEK 81 million in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract. A court had however exonerated them.
Also Read | The $14 billion feud that splintered the Hinduja family
With inputs from agencies.
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