Industry

Industrialist Bhadrashyam Kothari passes away

Shyam Kothari.

Shyam Kothari.  

Mr. Bhadrashyam Kothari, prominent industrialist and Chairman and Managing Director, Kothari Sugars and Chemicals, died at Houston, in the U.S. on Sunday, after a brief illness. His passing was peaceful, surrounded by his family members. He was 53.

As an industrialist, he brought to bear a visionary leadership to his group and displayed a pioneering spirit in venturing into new areas opened up by the economic reforms. He was also deeply involved in philanthropy and the promotion of education.

After training under his father late H. C. Kothari, Mr. Kothari took over as Chairman and Managing Director of the H.C. Kothari group of companies. The group has facilities in sugar and petrochemical sectors and was a pioneer in the field of financial services and mutual funds. Cashing in on the wave of economic reforms in the early 1990s, the Kothari group tied up with Pioneer, USA, to become one of the earliest in the private sector to launch a mutual fund in 1993. It was promoted by the non-banking finance company, Investment Trust of India. Pioneer then acquired it and subsequently it was taken over by Templeton MF. “He was so sharp and dynamic that he launched into a new-age form of financial services through the mutual fund,” said a close business associate.

Mr. Kothari was a former president of the Indian Sugar Mills Association, former president of the Hindustan Chamber of Commerce and Industry, and a founder of the Chennai chapter of the Young Professionals Organisation.

A Commerce graduate from the Loyola College, Mr. Kothari, known to his friends as Shyam, took a keen interest in the education field.

He was co-founder of the Institute of Financial Management and Research, and was invited to be on the Board of Trustees of the Northwestern University, Chicago, one of the leading universities in the US. He remained the Honorary Consul for Austria in Chennai till the end. Known also for his philanthropy, Mr. Kothari was on the Board of Directors of the Sankara Nethrelaya, and always ready to help mentor new ideas and groom entrepreneurs. He was described by his executives and employees alike as “sharp and humane.”

He was married to Ms. Nina Kothari, daughter of late Dhirubhai Ambani. They have a daughter, Nayantara, and son, Arjun. Mr. Kothari is also survived by a sister, Ms. Kamal Kumbhani.

P. R Venketrama Raja, Vice Chairman, Ramco Group, said, “He was a great judge of people. Magnanimous and kind.’’

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Printable version | Feb 19, 2020 11:30:09 AM | https://www.thehindu.com/business/Industry/industrialist-bhadrashyam-kothari-passes-away/article6925962.ece

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