Former Tata Sons chairman Cyrus Mistry was on Sunday killed in a road accident after his car hit a divider in Maharashtra’s Palghar district neighbouring Mumbai, a police official said.
Mistry was travelling from Ahmedabad to Mumbai in a Mercedes car, he said.
“The accident took place around 3.15 pm, when Mistry was travelling to Mumbai from Ahmedabad. The accident took place on a bridge over the Surya river. It seems an accident,” the police official said.
The other two persons travelling with him, including the car driver, were injured. All the injured persons have been shifted to a hospital in Gujarat.
More details will be obtained from them, he said.
The shock ouster of Cyrus Mistry in 2016 triggered a very public, years-long courtroom and boardroom battle.
Supreme Court ruled in 2021 that Cyrus’s ouster was legal and also upheld Tata Sons’s rules on minority shareholder rights.
Cyrus became the Tata Sons chairman in 2012, succeeding Ratan Tata. But he was removed four years later in a boardroom coup led by Tata Trusts, which owned 66% of Tata Sons and was controlled by Ratan Tata. The dispute snowballed with allegations of mismanagement and suppression of minority shareholder rights. The 2021 court ruling in Tata’s favor left burnt bridges between Shapoorji Pallonji Group and Tata Sons, which had been partners for 70 years.
After his Tata stint, Cyrus went on to set up a venture capital firm, Mistry Ventures LLP.
Cyrus Mistry’s father Pallonji Mistry died in June 2022 at the age of 93.
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