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Cyrus Mistry an EX-Tata Sons Chairman Died On a Road Accident: Shedding Some Light on His Life Journey as a Business Magnate

Cyrus Mistry an EX-Tata Sons Chairman Died On a Road Accident: Shedding Some Light on His Life Journey as a Business Magnate
Cyrus Mistry Life Journey

Cyrus Mistry was a man of dignity, grace, and integrity of character, which earned him the respect of the global financial and industrialist community. His sudden demise in a road accident in Palghar district, Maharashtra on 4th September is the darkest moment in the Indian corporate world.

Cyrus Mistry was the Scion of the famous Shapoorji &Pallonji family, who owns India's biggest private construction company SP&Co.Ltd.

During his time as a chairman of Tata Sons, he earned a nickname – The most low-profile man with the most high-profile job. His forceful removal as a chairman from the TATA Groups led to one of the biggest corporate legal battles, India had ever seen.

Take a look at the most humbled, shy, low profile, and sharp-minded businessman's Life Journey.

Cyrus Mistry Life Journey: From Managing Director of SP Group to a Chairman of Tata Groups &Legal Battle with Tata

Birth &Family–

Cyrus Mistry was born on 4 July 1968 to a Parsi family in Bombay (Mumbai).

His father was a billionaire construction magnate Pallonji Mistry, who owns India's biggest private construction SP&Co.Ltd. His Mother Patsy Perin Dubash is from Ireland. From his mother's side, he took up Irish Citizenship.

 He had an Elder Brother Shapoor Mistry, who is the chairman of the Shapoorji&Pallonji Co.Ltd. And two sisters Laila and Aloo. Aloo is married to Noel Tata, Ratan Tata's half-brother.

He married Rohiqa Chagla, daughter of lawyer Iqbal Chagla. The couple had two sons Firoz and Zahan Mistry.

Education –

  • Cyrus Mistry did his schooling in Cathedral & John Connon School, South Mumbai.
  • He did his graduation in commerce from the University of Mumbai. Later he was admitted to the Imperial College of London and completed his civil engineering degree.
  • And then a Master's in management from London Business School.
  • Later in 1996, he was awarded International Executive Master in management from the University of London.

Career

Cyrus entered his family business SP&Co.LTD. as a director in 1991. Later in 1996, he jumped to the managing director post.

Under his supervision SP&Co.Ltd business saw a growth in its turnover from $ 20 million to almost $1.5billion. Even handle the diversification of the company for designing and constructing buildings in marine, oil&gas and railway sectors.

He also served as a non-executive director at Forbes Gokak Ltd. and Senior vice-president for Convergence Media Pvt Ltd and UTV Toons India.

Entrance into TATA Groups World –

Cyrus Mistry's grandfather Shapoorji Mistry had first acquired a stake in TATA Groups in 1930, which paved the way for a later generation to enter into Tata Business.

Cyrus after his father's retirement from the Board of Tata Sons joined as a member of the Board in Sep 2006.

Cyrus was appointed a Deputy Chairman of the Tata Group in 2011 and Later succeeded Ratan Tata as a chairman of Tata Groups in 2012.

Before taking charge as the chairman of Tata Sons, he was discharged from all of his duty in SP&Co.Ltd.

During his tenure as chairman of Tata Sons, he took important measures which fuel the company’s growth.

But his decisions were not favored by other Board members and he was forcefully stepped down from his position in 2016 following a boardroom coup.

Cyrus Mistry called this decision "Unique in History".

Cyrus Mistry's Famous Legal Battle with Tata Groups –

Cyrus Mistry After removal from the chairman post in Tata Groups took the matter to the National Company Law Appellate Tribunal (NCLT), in 2018 issued a verdict in a favour of Tata Sons and claimed Mistry's removal from the post is valid.

Mistry appealed this decision and in 2019 NCLT issued a verdict in favour of Mistry and reinstated him as a chairperson of Tata Groups for his remaining term.

In 2020 January, Tata Groups appealed this decision in SC and SC stayed the NCLT decision and ruled out the decision in favour of Tata.

Cyrus Mistry Other Hobbies –

Although he is shy and always stays away from the limelight, he loves to play golf and had a great interest in Horse riding.

The Economist termed him in their article in 2013 “The most important industrialist in both India and Britain.”

CCTV footage of Cyrus Mistry’s Unfateful Mercedes car before the fatal accident-

Eye Witnesses Account of the accident -

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