Shapoorji Pallonji Group chairman Pallonji Mistry dies at 93

The SP Group was founded in 1865 and has built some of Mumbai’s landmarks like the Reserve Bank of India building and The Taj Mahal Palace hotel.

On Tuesday, June 28, Shapoorji Pallonji Group (SP) chairman Pallonji Mistry passed away in Mumbai at the age of 93. Shapoorji Pallonji is one of the biggest conglomerates in India with a presence in engineering & construction, infrastructure, real estate, water, energy and financial services.

The SP Group was founded in 1865 and has built some of Mumbai’s landmarks like the Reserve Bank of India building and The Taj Mahal Palace hotel. The Pallonji family owns about 18.4% stake in the Tata Sons making it the largest individual shareholder in the Tata Group.

In 2012, Pallonji Mistry came into the spotlight after his younger son Cyrus Mistry was chosen to head the Tata Group. But he was later removed in 2016 which led to one of the worst legal battles. After years of courtroom battle, the Supreme Court of India in 2021 ruled in the favour of Tata Sons thus ending the long struggle between the Tata and Mistry.