Deepak Khaitan dead; India Inc loses stalwart

Kolkata-based industrialist Deepak Khaitan died at his home here on Monday after prolonged illness, his family said.

He was 59. He is survived by wife Yashodhara, son Amritanshu and daughter Nitya Bangur. He was chairman of McNally Bharat and vice-chairman for Eveready Industries India, Kilburn Engineering and McLeod Russel.

Group senior executive Kamal Baheti said Khaitan had served the group for 40 years. He is perhaps best known for the acquisition of Eveready brand from the Union Carbide. Khaitan, the eldest son of B M Khaitan, had taken Eveready Industries India Limited to a new height during his tenure. He had served as the Managing Director of the company till August 10, 2011.

Eveready is one of the most renowned and enduring FMCG companies with its operations entrenched in the country for over 100 years. He had for over 30 years steered diverse business enterprises in India and had considerable experience and expertise in management of tea, batteries and engineering industries.

Khaitan had served also as chairman of McNally Sayaji Engineering Limited and had also been a director of the Williamson Magor Group of companies besides being on the board of numerous other companies. He had also served as the President of Indian Chamber of Commerce.

A first class graduate from St Xavier's College here, he completed his MBA in Geneva.