Shapoorji Pallonji chief Mistry dies at 93

Mumbai: Billionaire Pallonji Mistry, Chairman of diversified Shapoorji Pallonji (SP) Group, died in the wee hours of Tuesday here, company officials said.

Mistry, whose SP Group is the largest shareholder in the Tata Group with 18.37 per cent holding in the over $100 billion conglomerate, was 93. India-born Mistry died mid-sleep at 0100 hrs at the family residence in South Mumbai, they said. He had acquired Irish citizenship.

Paying tribute to him, Prime Minister Narendra Modi tweeted that he is saddened by the passing away of the billionaire. "He made monumental contributions to the world of commerce and industry," Modi said. Born in 1929, Mistry headed the privately held, over $5-billion SP Group having its roots in the construction business, which had diversified into other businesses like real estate, textiles, shipping and home appliances.