AutoBeta(AutoBeta.net)09/05 Report--

Cyrus Mistry, former chairman of the Tata Group, was killed in a road accident in Maharashtra, according to several local media reports including India Today and The Indian Express.

According to reports, the accident occurred at about 3:15 pm local time on September 3. Cyrus Mistry was travelling from Ahmedabad to Mumbai in a Mercedes Benz car. An accident occurred in Palghar area of Maharashtra, India. The driver lost control of the vehicle and the vehicle hit the isolation belt on the bridge on the way. Police said two of the four people in the car, including Cyrus Mistry, died at the scene and two others were taken to hospital for treatment. Local officials said,"Based on preliminary investigations, speeding and misjudgment led to the crash." Both victims were not wearing seat belts." The cause of the accident is still under investigation.

Indian Prime Minister Narendra Modi tweeted that Cyrus Mistry's untimely death was shocking, that he was a promising business leader who believed in India's economic strength, and that his death was a great loss to the business community.

Tata Group is India's largest private enterprise, headquartered in Mumbai, with more than 100 subsidiaries, business scope includes not only IT, steel and automobile three nuclear business, but also involved in electricity, telecommunications, hotels, tea, watches, jewelry and other fields. In March 2008, Tata Group invested US $2.3 billion to acquire Ford's Jaguar and Road brands, causing a shock in the international arena. Currently, Tata Motors is India's largest automaker and has a monopoly position among India's local autonomous automobile enterprises. According to the financial report, the net profit attributable to common shareholders of Tata Motors in fiscal year 2022 was-113.699 billion Indian rupees, up 20.32% year-on-year; operating income was 2.77 trillion Indian rupees, up 11.45% year-on-year.

Cyrus Mistry was a prominent Irish-Indian businessman and the first chairman outside the Tata family. On December 28, 2012, he was appointed as the new chairman of Tata Sons and Tata Group, becoming chairman of Tata Industries, Tata Steel, Tata Chemicals and Tata Motors. On October 24, 2016, Cyrus Mistry was voted out of office by the board of directors of Tata Sons. Cyrus Mistry, however, pleaded to the court that his expulsion from the Tata Group did not comply with the provisions of the Companies Act, and the National Companies Law Appeal Tribunal (NCLAT) ordered Cyrus Mistry's reinstatement in December 2019. However, the Supreme Court stayed NCLAT's order in January 2020, upholding his dismissal.

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