Shri Pralhad P Chhabria, Founder & Chairman of Finolex group passed away

Shri Pralhad P Chhabria, Founder & Chairman of Finolex group passed away peacefully at his residence on Thursday, the 5th of May 2016, after a brief illness. He was 86.

He was born in Karachi and migrated to India during partition. He started from scratch and a humble beginning to what is today the Rs. 10,000 Cr. Finolex Group of Companies.

Mr. Chhabria established the Finolex group which is well known today for its quality products. Finolex Cables Ltd. was established in 1954 and Finolex Industries Ltd. was set up in 1981.

He introduced many innovative solutions such as jelly-filled telecom cables and drip irrigation. Finolex Plasson Ltd., an Indo-Israel joint venture was the first joint venture by an Indian company with Israel.

Well known for his philanthropy, he established Mukul Madhav Foundation &Hope Foundation and Research Centre, active in the fields of medical assistance, education & social welfare to the under privileged. He established Mukul Madhav Vidyalaya at Ratnagiri and Engineering Institutions Finolex Academy of Management &Technology in Ratnagiri, Maharashtra and International Institute of Information Technology at Hinjawadi, Pune.

He is survived by his son Prakash and daughter Aruna and their families.

Source : Equity Bulls

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