NEW DELHI: Billionaire investor Rakesh Jhunjhunwala, who died at the age of 62 on last year, has been conferred the Padma Shri posthumously. Rakesh Jhunjhunwala was awarded the Padma Shri in the field of trade and industry.
The Ministry of Home Affairs announced the Padma Awards on Wednesday, on the eve of the 74th Republic Day. The awards will be conferred by the President of India at a ceremonial function, which will be held at the Rashtrapati Bhawan between March and April this year.
This year, the President approved the conferment of 106 Padma awards. Six people will be conferred the Padma Vibhushan, nine the Padma Bhushan and 91 people will be awarded the Padmi Shri.
Jhunjhunwala was popular among investors as India’s own Warren Buffet. He died of multiple ailments, including kidney issues, in Mumbai’s Breach Candy Hospital on August 14 last year.
The self-made business magnate, who believed risk was the essence of life and without it, one was nothing, managed his own portfolio as a partner in his asset management firm, Rare Enterprises.
He continued to remain bullish on domestic stock markets even as Dalal Street, along with global peers, faced multiple headwinds till he died.
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