Veteran industrialist and chairman emeritus of Tata Sons Ratan Tata is reportedly in critical condition at a Mumbai hospital.
Though there has been no official word on his health, Reuters reported on Wednesday evening that the 86-year-old business magnate was in the intensive care unit of Breach Candy hospital.
"He is in the hospital now… We shall be issuing an official statement tomorrow (Thursday) morning," an official close to Tata told news agency IANS .
This comes two days after Tata issued a statement on his social media profiles, saying he was undergoing routine medical investigations due to his age and related medical conditions.
"There is no cause for concern. I remain in good spirits," he had said, dismissing speculations about his medical condition.
Tata was at the helm of Tata Sons, one of India’s biggest conglomerates, for more than 20 years and is credited with expanding and diversifying the company.
A senior company executive told Reuters that Tata is not as active in the day-to-day running of the group as he used to be, but is consulted on big decisions by the Tata Sons leadership
A visionary industry leader and philanthropist, Tata is the chairman of Tata Trust and also serves on the international advisory boards of Mitsubishi Corporation and JP Morgan Chase.
Tata was the chairman of Tata Sons from 1991 till his retirement on December 28, 2012. Since then he has been the chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel and Tata Chemicals.
Tata is also currently the chairman of the Council of Management of the Tata Institute of Fundamental Research and also serves on the board of trustees of Cornell University and the University of Southern California, according to his profile given on the group’s website.