Rahul Bajaj, former chairman of Bajaj group, dies at 83

New Delhi, Feb 12: Padma Bhushan-awardee industrialist Rahul Bajaj passed away in Pune on Saturday. He was 83 years old. Bajaj was not keeping well for quite some time and passed away at around 2.30 hours on Saturday. His last rites will be held on Sunday.

The funeral of Padma Bhushan-awardee industrialist Rahul Bajaj will be held with full state honours, announced Maharashtra CM Uddhav Thackeray.

Dr Parvez Grant, chief cardiologist and managing trustee of Ruby Hall Clinic, said he was admitted to the hospital for the last one month.

"He died due to age-related and heart- and lung-related ailments," Grant added.

President Ram Nath Kovind condoled the demise of Padma Bhushan-awardee industrialist Rahul Bajaj.

"He was passionate about its priorities. His career reflected the rise & innate strength of the nation's corporate sector...," the President tweeted.

He is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj, and a daughter Sunaina Kejriwal. He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year.

He was the chairman emeritus of the Indian conglomerate Bajaj Group. He was awarded the third-highest civilian award Padma Bhushan in 2001.

In 2008, he split Bajaj Auto into three units - Bajaj Auto, finance company Bajaj Finserv and a holding company. His sons Rajiv Bajaj and Sanjiv Bajaj are now managing the day-to-day affairs of the company.

He was born on 10 June 1938 in a Agrawal family and is the grandson of Indian independence fighter, Jamnalal Bajaj. Bajaj was an alumnus of Harvard Business School in the US, St. Stephen's College, Delhi, Government Law College, Mumbai and Cathedral and John Connon School.

Bajaj got elected to the Rajya Sabha, India's Upper House of Parliament in the 2006-2010 period. On the Forbes 2016 list of the world's billionaires, he was ranked No. 722 with a net worth of US$2.4 billion.

Rahul Bajaj was elected as the president of the Confederation of Indian Industry (CII) twice in 1979-80 and 1999-2000. For his outstanding work to the Indian industry, the then President of India, Pranab Mukherjee presented him CII President's Award for Lifetime Achievement in 2017.

In April 2021, he resigned from his position of non-executive director and chairman at Bajaj Auto.