Pallonji Mistry, Shapoorji Pallonji group chairman passed away last night at his Mumbai home at the age of 93.

Due to his commanding presence in boardrooms, he earned the moniker "Phantom of Bombay House."

Mistry held 18.4% of the shares in the conglomerate and was the largest individual shareholder in the Tata Business.

The 1865-founded company works in a variety of industries, including engineering and construction, infrastructure, real estate, water, energy, and financial services.

One of India's highest civilian honours, the Padma Bhushan, was given to Mistry in 2016.

He ranked 143rd in the world according to the most recent Forbes data, with a net worth of approximately USD 13 billion.