|
Arun Bajoria passes away
Kolkata, March 28: Leading jute industrialist Arun Bajoria is no more.
Bajoria, who shot to fame by raiding companies such as Bombay Dyeing and Ballarpur Industries, breathed his last this morning at a Mumbai hospital after a brief illness.
Bajoria, 62, is survived by four daughters, his wife and mother. His body was flown to Calcutta in the evening for the last rites. Bajoria owned about a dozen jute mills in Bengal and Andhra
Pradesh. With a daily production of 600 tonnes, he controlled nearly 25 per cent of the country’s jute goods production.
The reclusive man shot to fame in 2000 when he cornered a 14 per cent stake in Bombay Dyeing and threatened to take over the Wadia company. The Wadias had to take Ratan Tata and Keshub Mahindra’s help to fend off Bajoria’s challenge. However, Bajoria later sold off his shares in Bombay Dyeing . The jute industrialist also bought large chunks of shares in Tata Steel, which he later sold off.
Bajoria, who was president of the Indian Jute Mills Association for three years from 2004 to 2007, is said to be one of the most cash-rich industrialists in
Kolkata. His business interests also included real estate. He owned a number of prime properties in the city. IJMA president Sanjay Kajaria, said, “An era has ended with the passing away of Bajoria. He was the undisputed leader of the jute industry.’’
A science graduate from St. Xavier’s College, he started looking after father Radhey Shyam Bajoria’s Hooghly Jute Mills when he was still studying. Bajoria acquired Hukumchand jute mill from the K.K. Birla group in the mid-eighties and owned a number of other mills such as Waverly, Bauria, Fort William and India Jute.
Source: The Telegraph |
Leading jute industrialist Arun Bajoria is no more.
IJMA president Sanjay Kajaria, said, “An era has ended with the passing away of
Bajoria. He was the undisputed leader of the jute industry.’’ |
