Cyrus Mistry and his family practice the Zoroastrian religion, which has Indian roots. He is an Irish businessman of Indian origin.
Mistry, the chairman of the Tata Group, made headlines around the world when he died in a car accident. His death has accelerated the discussion about road safety and stricter enforcement of laws.
Cyrus, 54, was killed after his car collided with a divider on a highway connecting Gujarat and Mumbai City on Sunday. BNN India pays tribute to former Tata Sons chairman Cyrus Mistry, who died in a road accident.
India’s Prime Minister, Narendra Modi, expresses his condolences to his friends and family.
Cyrus Mistry Belonged To The Hindu Or Parsi Religion?
Cyrus Mistry and his family practice the Parsi religion, which is an ethnoreligious group of the Indian subcontinent that practices Zoroastrianism. His parents are Indian construction magnates and billionaires. He is a Zoroastrian with Indian roots, being the son of Pallonji and Pasty.
His mother is Irish, and his Indian father immigrated to Ireland and became Irish in search of a better life. Iranian religion, the world’s oldest organized faith, is practiced by Zoroastrians.
Similarly, Cyrus’s uncle, Shapoor Mistry, is an Irish citizen who is married to Behroze Sethna. After the car accident, Mistry, the former Tata Sons chairman, abandoned his family.
His family performed Hindu funeral rites in an electric crematorium in Worli, central Mumbai.
What Is the Ethnicity of Cyrus Mistry’s Family?
Cyrus Mistry’s family is of Parsi ethnicity, despite being from India. On July 4, 1968, he was born in Bombay. The Tata Group’s chairman is an Indian-born-Irish businessman.
In terms of family history, he is the younger son of Pallonji Mistry, an Indian billionaire and construction magnate. Patsy, an Irish woman, gave him his Irish identity. Recently, India’s Prime Minister, Narendra Modi, expressed condolences and sympathy to his family.
He inherited the business mind from his family, who has been in business for over 100 years. Shapoorji, his grandfather, received a stake in Tata Sons. His family owned the most shares in Tata Sons.
He had the opportunity to study at Imperial College London after receiving his Bachelor of Engineering in civil engineering from the University of London in 1990. In addition, he earned his Masters degree in 1996 from London Business School.
What is Cyrus Mistry’s Net Worth?
The net worth of Cyrus Mistry is estimated to be around $29 billion.
He was one of India’s wealthiest men. His net worth was estimated to be around $ 10 billion, according to Lexology. In a 2013 article, The Economist named Cyrus the most powerful industrialist in India and Britain.
He was the Director of Tata Power Co. Ltd from 1990 to 2009, until September 2006. In 1991, he joined his family company, Shapoorji Pallonji & Co. Ltd, as a director, and later became the managing director of Shapoorji Pallonji & Company.
Mistry was also the chairman of several Tata companies, including Tata Teleservices, Indian Hotels, and Tata Chemicals.
Cyrus Mistry Family
He was from a Parsi family. His parents were both Zoroastrian believers. Because his mother was an Irish citizen, his father decided to become an Irish citizen as well.
Siblings and Parents
Cyrus Mistry was the younger son of Pallonji Shapoorji Mistry, a construction magnate. On June 28, 2022, his father died at the age of 93. Patsy Perin Dubash, his mother, was born in Ireland. Patsy was of Indian descent. Shapoor Mistry, his elder brother, is a businessman (involved in the real estate and textile business). Shapoor is an Irish citizen as well. Shapoor is married to Behroze Sethna, a Parsi lawyer’s daughter. Laila Mistry and Aloo Mistry were his two older sisters. Laila is married to Rustom Jehangir, a portfolio fund manager based in London, and Aloo is married to Noel Tata, Ratan Tata’s half-brother.
Wife and kids
Cyrus Mistry married Rohiqa Mistry on January 2, 1992, the daughter of prominent Indian lawyer Iqbal Chagla and the granddaughter of popular Indian Indian jurist, diplomat, and Cabinet Minister Mohammadali Carim Chagla (popularly known as M. C. Chagla). He and Rohiqa had two sons, Zahan Mistry and Firoz Mistry.
Cyrus Mistry Career
Cyrus Mistry began his corporate career as a director at his family’s construction company, Shapoorji Pallonji & Co. Ltd, in 1991. In 1994, Cyrus was named Managing Director of the Shapoorji Pallonji Group. Cyrus joined the board of Tata Sons in September 2006, a year after his father, Pallonji Mistry, retired from the company, representing his family’s 18.5% stake in the company; his grandfather had purchased shares in Tata Sons for the first time in the 1930s. Previously, he served on the boards of several other Tata companies, including Tata Elxsi Limited and Tata Power Co. Ltd. He resigned from Shapoorji Pallonji & Company in November 2011 after being appointed as the Tata Group’s deputy chairman. For about a year, he worked under the supervision of Indian industrialist Ratan Tata.
Cyrus was appointed chairman of the Tata Group a year later, following the retirement of Ratan Tata, who had led the company since 1991. Apparently, he was initially hesitant to accept the position, but after some persuasion from Ratan Tata, he agreed. In addition, he oversaw all of the Tata group’s key businesses, including Tata Motors, Tata Steel, Tata Consultancy Services, Tata Teleservices, Tata Power, Tata Global Beverages, and Tata Chemicals.
On October 24, 2016, the Tata Sons Board of Directors voted to remove Cyrus from his position as chairman after giving him the opportunity to resign voluntarily. After his departure, Ratan Tata served as interim Chairman of the Group for a few months before Natarajan Chandrashekharan took over. Following his dismissal from Tata Sons, Cyrus returned to his family’s construction business, which thrived under his leadership. Previously dealing only with construction, the company began executing projects using design and build and EPC delivery methodologies, implementing complex projects in the marine, oil and gas, and rail sectors. Large road projects were also undertaken by the company. In addition, the company ventured into agriculture and biofuels.
Legal Battle- Mistry Vs Tata Group
Mistry’s relationship with the Tata Group and its patriarch Ratan Tata soured after he was replaced in a boardroom coup in October 2016. Mistry, along with his family-backed firms Cyrus Investments Pvt Ltd and Sterling Investments Corporation Pvt Ltd, took the Tata Sons to the National Company Law Appellate Tribunal in December 2016. (NCLAT). He accused Tata Sons of oppression and mismanagement, and claimed that his work had been recognized just a few months before. He also inquired of the group as to the circumstances that led to his abrupt removal from the position of chairman. The National Company Law Tribunal (NCLT) ruled in Tata Sons’ favor in July 2018. The National Company Law Appellate Tribunal (NCLAT) overturned the NCLT judgment in December 2019, ruling that Cyrus’ dismissal as Chairman of Tata Sons was illegal. He reinstated Cyrus as Chairman of Tata Sons for the remainder of his term.
Ratan Tata and Tata Sons challenged NCLAT’s decision to reinstate Cyrus as Chairman of Tata Sons in the Supreme Court in January 2020, and the court stayed NCLAT’s decision. Cyrus Mistry then filed a cross-appeal in the Supreme Court, requesting additional relief from the tribunal. Later, the Supreme Court barred the Shapoorji Pallonji Group from pledging its Tata Sons shares in order to raise funds. The Supreme Court ruled in March 2021, during the final hearing, that Cyrus Mistry’s removal from the position of ‘Chairman’ of Tata Sons was legal.
Cyrus Mistry Death Cause
Cyrus Mistry died in a car accident on September 4, 2022, while traveling from Gujarat’s Udwada to Mumbai in his Mercedes GLC Sports with three other people. Their car was apparently speeding, and when the driver attempted to overtake another vehicle from the wrong side, she lost control of the vehicle and crashed into a road divider on a bridge over the Surya river in Charoti Naka. [5] Cyrus was apparently sitting in the back seat without a seat belt. The accident happened around 2.30 p.m. According to Cyrus’ autopsy report, he suffered a head injury that resulted in a haemorrhage (heavy bleeding), as well as a severe chest injury.
