Insiders said Shapoor intends to gradually deepen Firoz and Zahan's role in operations and eventually bring them onto the group's boards, a process already underway with his own son
Firoz and Zahan Mistry, sons of Cyrus Mistry, inherited a portion of the family's 18.4% stake in Tata Sons, propelling them into the elite circle of young billionaires.
The various businesses will be held by two holding companies and will be supervised by an advisory board that will include four family members - Shapoor and his son, Pallon, and late Cyrus Mistry’s two children, Firoz and Zahan.
Cyrus Mistry’s car had crashed on the parapet wall of a bridge on the Mumbai-Ahmedabad Highway in Palghar, causing his death and that of his friend Jehangir Pandole, who was the global strategy head of KPMG in London.
A weaker rupee impacted the majority of the richest but that was offset by Gautam Adani's record gain, which made him the new No 1
Through five generations and 157 years, the Mistrys have grown an empire responsible for building palaces, factories and stadiums across Asia.
A case under Indian Penal Code sections 304(A) (causing death by rash and negligent act), 279 (rash driving on a public road), 337 (causing death by act endangering life and personal safety of others) besides the Motor Vehicles Act was filed at Kasa police station
Mumbai Police will try a combination of punishment and counselling to sensitise people as the seat belt rule comes into force from November 1.
The inclusion takes place even as Tata Trusts announced the retirement of its first professional CEO Srinath Narasimhan, 60, who was appointed in 2020.
There’s more to the deferment of the rule than just supply chain constraints.
Mercedes-Benz India’s CEO and MD Martin Schwenk shared insights on the safety parameters of cars, the role of EVs in mobility, and his estimates for the year’s sales.
Seat belt alarm will be mandatory in M and N category vehicles, and vehicles will have audio-video warning if seat belts are not worn, as per the government's draft notification.
While much is made of the professionalisation of business families, on the ground, Indian family businesses have often struggled without a strong family lead, clear about his or her role at the top
I had the terrific privilege of working closely with Cyrus Mistry for four years, during his tenure at the Tata Group
Cyrus Mistry (54) and his friend Jahangir Pandole were killed on Sunday afternoon when their Mercedes car hit a road divider in Palghar district.
The Regional Transport Office (RTO) team has submitted its report to the Maharashtra Police regarding the accident. The RTO report has found the design of the highway faulty, adding that there were no cautionary sign boards on the road, no blinkers, no sign to indicate lane merging.
Cyrus Mistry died at the age of 54 when the car he was travelling from Mumbai to Ahmedabad in hit a road divider.
Nitin Gadkari, minister for road transport and highways, has announced that a penalty will be levied on passengers not wearing seat belts in the rear seats in cars. We take a look at the history of seat belts, why wearing them is important and countries where it is mandatory.
Cyrus Mistry and his friend Jahangir Pandole were not wearing seat belts as per a preliminary probe, a police official earlier said, adding that over-speeding and an "error of judgment" by the driver caused the accident.
The move comes after the recent death of business tycoon Cyrus Mistry in a tragic car accident on this way to Mumbai.
Cyrus Mistry (54) and Pandole were on way to Mumbai from Gujarat along with two other persons when their car hit a divider on a bridge over the Surya river in neighbouring Palghar district of Maharashtra, around 100 km from here, on Sunday afternoon. Mistry and Jahangir Pandole, who were on the back seats, were killed.
The last rites were performed as per Hindu customs in an electric crematorium at Worli in central Mumbai.
The car hit a road divider on a bridge over the Surya river on the Mumbai-Ahmedabad Highway at around 3 pm, killing Mistry (54) and his friend Jahangir Pandole on the spot.
Cyrus Mistry's funeral will be held at the Worli crematorium at 11 am.
Born in 1968, Cyrus Mistry, was a scion of a wealthy business family. He led the Tata Group from 2012 until his unceremonious ouster in 2016. Known to be approachable and a person who kept a low profile, Mistry’s life was cut short after he met with a road accident on his way to Mumbai on 4th September, 2022. Here’s a glimpse of Cyrus Mistry’s life.