Tata Group chairman and veteran businessman Ratan Tata passed away at a Mumbai

Mumbai: Tata Group chairman and veteran businessman Ratan Tata passed away at a Mumbai hospital on Wednesday night. He was 86 years old. 

Ratan Tata was admitted to Breach Candy Hospital in Mumbai in the evening , whose health condition was very serious due to age-related ailments   .  

Tata Sons chairman N Chandrasekaran confirmed Tata's death in a statement, describing him as a "friend, mentor and guide". He was undergoing treatment at Breach Candy Hospital in South Mumbai for the past few days. Billionaire Harsh Goenka also tweeted about Tata's demise, and called him a "titan".

He was born on 28 December 1937 as the son of Naval Tata, the adopted son of JRD Tata. He graduated from Cornell University with a degree in Architectural Engineering. He is leaving Tata after making it a global brand.

Ratan Tata was in control of the Tata Group and all their empires for three decades. It was only later when the infirmities of age took a toll that he decided to stay away from the business.

Ratan Tata led the Tata Group from 1991 to 2012. Ratan founded the Tata telecommunications company Tata Teleservices in 1996 and later took Tata's Contransiency Services public in 2004. 

In 1975, he completed the Advanced Management Program at Harvard Business School. Ratan Tata took over as the Chairman of Tata Sons in March 1991 and retired on 28 December 2012. During his tenure, Tata Group's revenue grew from a turnover of Rs 10,000 crore in 1991 to $100.09 billion in 2011-12.

He has led the group through some notable acquisitions, starting with Tata Tea's Tetley for $450 million in 2000, Tata Steel's steel maker Corus for GBP 6.2 billion in 2007 and Jaguar Land Rover for $2.3 billion in 2008.

In 2008, the Government of India honored Mr. Tata with its second highest civilian award, the Padma Vibhushan. After his retirement, Tata faced a boardroom battle with Cyrus Mistry, who was ousted as chairman of Tata Sons on 24 October 2016. After Mistry's ouster, he returned as the group's interim chairman, handing over the group's baton to N Chandrasekharan in January 2017 and moving into the role of chairman emeritus of Tata Sons.

Meanwhile, Ratan Tata is one of the most influential figures in Indian industry. Even with the likes of Mukesh Ambani at the top of the billionaires list, Tata Group stalwart Ratan Tata still has a special place among Indians.  At present Tatin owns more than 70 shares of the group. After his retirement, he held the official position of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals.