Chennai, Feb 24: Industrialist Bhadrashyam Kothari, brother-in-law of billionaire industrialists Mukesh and Anil Ambani, passed away in the US on Sunday morning after battling with cancer.
He was 54. He is survived by two children -- Nayantara and Arjun -- and wife Nina, the youngest daughter of late Dhirubhai Ambani.
The Chennai-based industrialist was popularly known as Shyam Kothari in business circles. He breathed his last peacefully in Houston in the US where he had gone for treatment, sources in his company said.
His funeral and last rites would be held on Wednesday, February 25, in Chennai, sources close to the family said.
Kothari, a graduate from Chennai's LOyola College, was heading H C Kothari group, which has interests in petrochemicals, sugar, biotechnology and private equity areas.
Twenty years ago, the Group had launched the country's first mutual fund, the Pioneer Fund, which was later sold to Franklin Templeton.
Twitterati paid their condolences to the late visionary and stalwart industrialist.
May God bless your soul dear friend Shyam Kothari ..you were a gem of a friend who will always be remembered - ARR and family— A.R.Rahman (@arrahman) February 23, 2015
Bhadrashyam Kothari became a mutual fund pioneer in India - literally by launching Kothari Pioneer that became Franklin Templeton MF. RIP— Madhavan Narayanan (@madversity) February 24, 2015
I met Bhadrashyam Kothari once at a sugar industry do. Warm, pleasant,left an impression. Learnt much later he is Mukesh Ambani's bro-in-law— Madhavan Narayanan (@madversity) February 24, 2015
Chennai's Shyam Kothari, who founded Kothari Pioneer, India's 1st private mutual fund, now Franklin Templeton, passes away. Rip.— Sriram V (@MadrasMobile) February 23, 2015
Sad to hear abt Shyam Kothari's death. A wonderful man.— Chandru (@ChandrusWeb) February 24, 2015
Was really sad to hear about Shyam Kothari's demise. A kind hearted & gentle person. Gracious host and a beautiful couple. (1/3)— Viswanathan Anand (@vishy64theking) February 24, 2015
a day of mourning in Ambani family. Shyam Kothari passes away. Was the early mover in Indian mutual fund industry. RIP— Sunil Arora (@moneybloke) February 24, 2015
RIP Dear Friend Shyam Kothari . I am yet to know a more simple down to earth human ever smiling kind polite and such a Noble Man .— Krishna Iyer (@Krsnaaiyer) February 24, 2015
(With PTI inputs)