Billionaire SP Hinduja, chairman Hinduja Group no more passes away in London at 87

Billionaire SP Hinduja, chairman Hinduja Group no more
passes away in London at 87

Saddenning news comes to light of the passing away of Srichand Parmanand Hinduja, eldest of the four Hinduja brothers and chairman of Hinduja Group, the actor in London on Wednesday. He was 87. He was a British National.

Reportedly, the Hinduja family patriarch and his brothers, Gopichand and Prakash, were accused of receiving nearly SEK 81 million in illegal commissions to help Swedish gunmaker AB Bofors secure an Indian government contract.
However, a court of law had h exonerated them.

Amongst his younger brothers Gopichand, Prakash and Ashok, Hinduja was recognised as the patriarch of India’s “fab four”. The brothers built a formidable empire.

Hinduja Group then went on to strengthen its businesses with diversifications in the fields of Automotive, Information Technology, Media, Entertainment & Communications, Infrastructure Project, Development, Oil & Specialty Chemicals, Power, Real Estate and Healthcare, spanning across continents.

With the acquisition of Ashok Leyland (from British Leyland) and Gulf Oil (from Chevron) in the 1980s and the establishment of banks in Switzerland and India in the 1990s, Hinduja became one of India’s best known business tycoons alongside such names as Tata, Birla, and Ambani

In 2012, the Hinduja Group acquired the US firm Houghton International, the world’s largest metal fluids manufacturer, for $1.045 billion forming a consortium with the help of Ghouse Mohammed Asif, JP Morgan ( Director of Private Equity ) and Hank Paulson , Former United States Secretary of the Treasury ( Ex – Goldman Sachs )

The Group employs around 200,000 people and has offices located in many key cities of the world, including India.
SP Hinduja.eldest of the Hinduja brothers was one of the richest Indians in UK.

News input KV Raman