Srichand Hinduja died on Wednesday at the age of 87. He was the Indian-born billionaire who led a global business empire, and patriarch of Britain’s richest family.
Hinduja was suffering from dementia, and his family reported that he 'passed peacefully today'.
He was the chairman of a business group with the same name that owns companies in India, including those in chemicals, commercial vehicles, banking and software.
Hinduja, his brother Gopichand and their estimated net worth, which includes millions of pounds in central London, was ranked first on the Sunday Times Rich List for 2022, for the fourth time.
In a joint statement, Hinduja's daughters Vinoo and Shanu said: "It is with great sadness that we report the death of our father."
SP was a visionary, business titan, humanitarian, and philanthropist. He touched many lives and we will always be grateful for our time with him.
The Hinduja Group employs more than 200,000 people in over 30 countries. It was founded by Parmanand Dechand Hinduja in 1914, who dealt in carpets and dried fruits from Iran. His sons Srichand & Gopichand then moved their base to Britain during the 1970s.
Recently, the brothers were embroiled in a dispute over the future business empire of Srichand and Gopichand questioned the validity of the lasting power of attorney granted by Srichand to his daughters.
Gopichand's daughter and Srichand had appeared to reach an agreement, but last month a lawyer for Srichand told a London Court that the truce was in danger.
Hinduja's daughter said that SP would be remembered, amongst others, for his contributions to bringing India, and its culture, to the world stage through his philanthropic and professional efforts.