Former Tata Steel MD Jamshed J Irani who was widely known as the "Steel Man of India" passed away late on Monday in Jamshedpur's Tata Main Hospital. He was 86 and is survived by his wife Daisy and three children. "We are deeply saddened at the demise of Padma Bhushan Dr Jamshed J Irani, fondly known as the Steel Man of India. Tata Steel family offers its deepest condolences to his family and loved ones," Tata Steel tweeted.

Irani, 83, retired from the board of Tata Steel back in June 2011. Irani had contributed tremendously to the Indian Industry, the steel business and the Tatas for over four decades. He began his career in 1963 as a senior scientific officer at the British Iron and Steel Research Association, Sheffield.