Rekha Jhunjunwala receiving the award from President Droupadi Murmu.
The award was offered in a ceremony at Rashtrapati Bhavan within the nationwide capital.
Late billionaire investor Rakesh Jhunjhunwala was posthumously awarded the Padma Shri award for his contributions within the discipline of commerce and business. Nicknamed India’s personal Warren Buffet, Jhunjhunwala died final 12 months in Mumbai. He was 62.
The award was offered in a ceremony at Rashtrapati Bhavan within the nationwide capital. Family members of the late investor attended the ceremony and his spouse Rekha Jhunjunwala acquired the award from President Droupadi Murmu.
Jhunjhunwala, a chartered accountant from the northern state of Rajasthan, started investing within the inventory market whereas he was nonetheless in faculty, beginning off with capital of simply 5,000 rupees ($63).
He went on to determine and handle RARE Enterprises, an asset administration agency. As his internet price steadily rose, he turned one in all India’s richest males with investments in a number of the nation’s greatest firms.
In his newest enterprise, he teamed up with two Indian airline CEOs to launch the low-cost Akasa Air, which took its first flight final week. Jhunjhunwala was seen on the launch in a wheelchair.
Also known as the Big Bull of the nation’s Bombay Stock Exchange, Jhunjhunwala was recognized for taking dangers out there and in his investments.
In an interview with information channel CNBC-TV18, Jhunjhunwala had mentioned regardless of the unfavorable financial situations internationally, the Indian market will develop, however at a slower tempo.
The Padma Awards are one of many highest civilian honours of India introduced yearly. The Awards are given in three classes: Padma Vibhushan (for distinctive and distinguished service), Padma Bhushan (distinguished service of upper order) and Padma Shri (distinguished service).
The award seeks to recognise achievements in all fields of actions or disciplines the place a component of public service is concerned.
(With AP inputs)
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