SP Hinduja, chairman of Hinduja Group, dies aged 87

Srichand Parmanand Hinduja, the eldest of the four Hinduja brothers and chairman of Hinduja Group, died aged 87 in London on Wednesday. He was unwell for some time. 

In the late 1980s, the Hinduja family attracted notoriety as its 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. A court had, however, exonerated them.

His business success started with the international distribution rights for the Bollywood blockbuster movie 'Sangam' in 1964, which made him one of the richest persons in Britain. 

Born in a business family in Karachi, British India, he is survived by his daughters, Shanu and Vinoo. He lost his wife, Madhu, in January this year. She was 82. 

The beginning of the Hinduja Empire

The Hinduja empire was started by Parmanand Deepchand Hinduja, who traded goods in the Sindh region of India (now Pakistan) before moving to Iran in 1919.

In 1964, SP Hinduja distributed Raj Kapoor-starred 'Sangam' movie through the Middle-East markets, which helped him earn his first million dollars.

And when ex-Prime Minister Indira Gandhi had a disagreement with the Shah of Iran over high oil prices, SP and his brothers used the offer of the Iranian monarch to increase Indian exports to the Persian Gulf nation, shipping iron ores to commodities.

In 1980, they acquired a stake in Indian truck and bus manufacturer, Ashok Leyland.

They also took control of the Gulf Oil International Company from Chevron Corp to venture into the oils and lubricants business.

In 1993, SP Hinduja ventured into banking, with IndusInd Bank.

Spokesperson of the Hinduja family said in a statement- 

"Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and Chairman of the Hinduja Group, Mr S P Hinduja today.

"He was a visionary and mentor to the family bestowing the founding principles and values of our late father, PD Hinduja. He played a very important role alongside his brothers in building a strong relationship between his host country, the UK and his home country, India.

"A titan amongst his peers, SP Hinduja truly lived and embodied the Hinduja Group’s founding principles and values. A deeply spiritual and philanthropic person, he was courageous in action and generous at heart.

"His loss has left a huge void as the brothers have always been four bodies and one soul.

"The Hinduja Family is in grief and sorrow at his demise. Our prayers to the Almighty to grant his soul eternal place at His Lotus Feet.

"Om Shanti, Om Shanti, Om Shanti.” 

(With inputs from PTI)