Pallonji Mistry, the chairman of Shapoorji Pallonji Group, died at his residence in Mumbai early this morning.
93-year-old Pallonji Mistry was the largest individual shareholder in the Tata Group with 18.4 per cent holding in the conglomerate.
Prime Minister Narendra Modi and Union Minister Smriti Irani took to Twitter to condole Mr Mistry's death.
"Saddened by the passing away of Shri Pallonji Mistry. He made monumental contributions to the world of commerce and industry. My condolences to his family, friends and countless well-wishers. May his soul rest in peace, " the Prime Minister said.
"Pallonji Mistry, the end of an era. One of life's greatest joys was to have witnessed his genius , his gentleness at work. My condolences to the family and his loved ones," tweeted Smriti Irani.
"Deeply saddened on the unfortunate demise of Shri Pallonji Mistry. His invaluable contribution to infrastructure development, commerce & industry will never be forgotten. My condolences to his family & friends," said Union road transport and highways minister Nitin Gadkari.
Born in 1929, Mr Mistry was conferred with Padma Bhushan, the country's third-highest civilian award, for his contribution as an industrialist.
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