Industrialist Rahul Bajaj, former chairman of Bajaj Group, passes away

Rahul Bajaj, former chairman of the Bajaj Group, died in India's western Pune city on Saturday. He was 83.

Bajaj had been admitted to the Ruby Hall Clinic hospital in Pune. He had pneumonia and a heart problem.

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. 

He died around 2.30 pm, the official said. The last rites will be held on Sunday.

Bajaj is survived by two sons, Rajiv Bajaj and Sanjiv Bajaj; and daughter Sunaina Kejriwal.

"It is with deep sorrow that I inform you about the passing away of Shri Rahul Bajaj, husband of the late Rupa Bajaj and father of Rajiv/Deepa, Sanjiv/Shefali and Sunaina/Manish. He passed away on the afternoon of February 12, 2022, in the presence of his closest family members," a statement from Bajaj Group read.

He resigned from his position of non-executive director and chairman at Bajaj Auto on April 30 last year.

Rahul Bajaj was awarded India's third-highest civilian award Padma Bhushan in 2001. Bajaj also served as an MP in Rajya Sabha, India's upper house.

Till February 2021, Rahul Bajaj was ranked 421 on the Forbes list of the world's billionaires with a net worth of USD 8.2 billion.

Reacting to Bajaj's demise, Indian politicians and ministers paid tributes to the celebrated entrepreneur.

Union Minister of Road Transport and Highways Nitin Gadkari said, "My heartfelt tributes to Rahul Bajaj ji, a successful entrepreneur, philanthropist and former chairman of Bajaj. I have had a personal relationship with Padma Bhushan awardee Rahul ji for many years."

Maharashtra Cabinet minister Nawab Malik said, "Grieved to learn about the demise of Rahul Bajaj Ji, chairperson of Bajaj Group. Condolences and strength to his family and close ones."

Nationalist Congress Party chief Sharad Pawar said he lost a close friend, while the country lost an industrialist, a philanthropist and a lighthouse for young entrepreneurs. 

"I am deeply shocked to learn about the sad demise of Padma Bhushan Shri Rahul Bajaj! The grandson of eminent freedom fighter Jamnalal Bajaj brought transformation in society especially in poor and middle-class people with his two-wheel technology - a Bajaj Bike!

“The affordable vehicle increased mobility, eased struggle for getting means of livelihood and became the tool of socio-economic change! We Indians are deeply indebted for his immense contribution to the industry,” Pawar further wrote on Twitter.

(With inputs from agencies)