54 year-old Shyam Kothari who succumbed to cancer, was part of $100-mn H C Kothari Group with interests in sugar, chemicals and petrochemicals

Bhadrashyam Kothari, better known as Shyam Kothari, the only son of late industrialist H C Kothari, passed away on Monday in the US, where he was undergoing treatment for cancer. He was 54 years old.

Shyam Kothari was part of the $100-million H C Kothari Group with interests in sugar, chemicals and petrochemicals. The group was founded by H C Kothari along with his brother D C Kothari. The brothers parted ways in the 1980s.

Shyam joined H C group when he was 24 years. He got married to Dhirubhai Ambani's daughter Nina Kothari. He has two children. His daughter recently got married and his son is studying.

According to sources, he was the first to start a private mutual fund in India in the mid 1990s, Kothari Pioneer Mutual Fund, through a partnership between Kothari Group's flagship company The Investment Trust of India and the Pioneer Group of the US. The Investment Trust of India was later acquired by TDK Capital, Kolkata.

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