The Indian-born billionaire chief who was chairman of the Hinduja Group, had been affected by dementia.
Srichand Hinduja, the Indian-born billionaire chief of a world enterprise empire and the patriarch of the UK’s wealthiest household, has died aged 87, his daughters mentioned on Wednesday.
Hinduja, identified by his initials SP, was affected by dementia and his household mentioned he had “handed away peacefully this morning”.
He was chairman of the eponymous enterprise group which owns public firms in India with pursuits in banking, chemical compounds, software program and business automobiles.
Hinduja and his youthful brother Gopichand, 83, topped the Sunday Instances Wealthy Record in 2022 for a fourth time, with an estimated web value of 28.5 billion kilos ($36bn), which included property value hundreds of thousands in central London.
“It’s with deep unhappiness that we announce the passing of our father,” Hinduja’s daughters Shanu and Vinoo mentioned in an announcement.
“SP was a visionary titan of trade and enterprise, humanitarian and philanthropist … He touched numerous lives on his path, and we’re eternally grateful for the time we cherished with him.”
The Hinduja Group, which employs 200,000 folks throughout greater than 30 nations, was based in 1914 by Parmanand Deepchand Hinduja, who traded in carpets and dried fruit from Iran earlier than his sons Srichand and Gopichand shifted their base to the UK within the Nineteen Seventies.
Extra just lately, the brothers have been embroiled in a feud over the way forward for their enterprise empire and Gopichand had challenged the legitimacy of an enduring energy of lawyer granted to Srichand’s daughters.
Gopichand and Srichand’s daughters had reached an obvious truce, however a lawyer representing Srichand’s pursuits instructed a London courtroom final month that that settlement was in danger.
“Amongst different issues, SP might be remembered for his nice contributions in bringing India and its tradition to the worldwide stage by way of his work and philanthropic efforts,” Hinduja’s daughters mentioned.