Srichand Parmanand Hinduja, a prominent British-Indian businessman, passed away in London on Wednesday at the age of 87 after a prolonged illness, according to a family spokesperson. Known as SP Hinduja, he achieved significant business successes throughout his career, including the international distribution rights for the Bollywood blockbuster movie ‘Sangam’ in 1964, which propelled him to become one of the richest individuals in Britain. However, it was the controversial Bofors scam that brought him widespread attention and made him infamous in his home country.
Born into a business family in Karachi, British India, SP Hinduja and his two younger brothers, Gopichand and Prakash Hinduja, became well-known figures in the world of business. In the mid-1980s, their names became entangled with the Bofors scandal, in which allegations were made regarding illegal commissions received to secure an Indian government contract for the Swedish gunmaker AB Bofors. The accusations amounted to payments totaling Rs 64 crore. The scandal created a storm of controversy and had far-reaching political implications in India.
However, after a long legal battle, the Hinduja brothers were eventually exonerated by the Delhi High Court in 2005. The court ruling cleared their names and lifted the cloud of suspicion that had hovered over them for years. Despite the legal victory, the Bofors scandal remained a significant episode in SP Hinduja’s life, forever associated with his name.
Throughout his career, SP Hinduja played a pivotal role in building the Hinduja Group, a multinational conglomerate with interests in diverse sectors such as banking, finance, oil and gas, healthcare, and media. The Hinduja Group, founded by his father, Parmanand Deepchand Hinduja, has grown into one of the largest business empires in the world.
SP Hinduja’s business acumen and strategic vision played a vital role in expanding the Hinduja Group’s operations globally. He led the group’s diversification efforts, facilitating its entry into new markets and industries. Under his leadership, the Hinduja Group expanded its footprint across continents, establishing a strong presence in Europe, the Americas, Asia, and the Middle East. The conglomerate’s operations span numerous sectors, including automotive, banking and finance, energy, healthcare, and real estate.
SP Hinduja was not only known for his business ventures but also for his philanthropic endeavors. The Hinduja Foundation, established by the Hinduja family, has been actively involved in supporting education, healthcare, and social welfare initiatives worldwide. The foundation has contributed significantly to various charitable causes, aiming to uplift underprivileged communities and promote sustainable development.
Despite the controversies surrounding his name, SP Hinduja remained a respected figure in the business world. He was recognized for his contributions to global commerce and received numerous accolades and awards throughout his lifetime. His business empire continues to thrive under the leadership of his brothers, Gopichand and Prakash Hinduja, as they carry forward his legacy.
The passing of SP Hinduja marks the end of an era in the business world. His entrepreneurial spirit, determination, and philanthropic efforts have left a lasting impact on the global business community. While the Bofors scandal may have tainted his reputation to some extent, his overall contributions and achievements cannot be overlooked. SP Hinduja’s legacy will be remembered for his remarkable journey from humble beginnings to becoming a prominent business tycoon and philanthropist.
