Sun, 02 Apr 2023

New Delhi [India], January 25 (ANI): Ace investor and billionaire Rakesh Jhunjhunwala, who passed away at 62 last year, has been conferred the Padma Shri posthumously.

Jhunjhunwala, often referred to as India's own Warren Buffet passed away on August 14, 2022.

Jhunjhunwala was born on July 5, 1960. He grew up in Mumbai.

After graduating from Sydenham College in 1985, he enrolled at the Institute of Chartered Accountants of India and married Rekha Jhunjunwala, who is also a stock market investor.

Jhunjhunwala ran a privately-owned stock trading firm called RARE Enterprises. He was also the owner of India's newest airline Akasa Air which took off in Indian skies earlier this month.

He was always bullish about India's stock markets and whatever stocks he purchased mostly turned into a multibagger.

In the trade and industry category, Areez Khambatta (posthumous) will also be awarded Padma Shri. He was the founder of the popular soft drink brand Rasna.

Further, the chairman of Aditya Birla Group Kumar Mangalam Birla will be conferred with Padma Bhushan.

These Awards are usually conferred by the President of India at ceremonial functions which are held at Rashtrapati Bhawan usually around March or April every year. (ANI)

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