Prime Minister Narendra Modi on Sunday said condoled the demise of former Tata Sons chief Cyrus Mistry.

In a tweet, PM Modi wrote, "The untimely demise of Shri Cyrus Mistry is shocking. He was a promising business leader who believed in India’s economic prowess. His passing away is a big loss to the world of commerce and industry. Condolences to his family and friends. May his soul rest in peace."

Cyrus P. Mistry, who was 54, was killed in a road accident near Maharashtra's Palghar on Sunday.

Mistry, who heads the Shapoorji Pallonji Group, was traveling from Ahmedabad to Mumbai when his car hit a road divider near Charoti.

There were four people in the car out of which two, including Mistry, succumbed to injuries in the road crash which left the vehicle badly damaged.

The other two injured, whose identity was not clear, have been admitted to a local hospital in Kasa.

Maharashtra Chief Minister Eknath Shinde also condoled the death of former Tata Sons chairman.

"Shocked to hear about the passing away of former Tata Sons Chief Cyrus Mistry. He was not only a successful entrepreneur but also was seen in the industry as a young, bright and visionary personality. It is a great loss... My heartfelt tribute," said CM Shinde.

Union Minister Nitin Gadkari too expressed condolence on Mistry's death.

"Deeply saddened to know about the unfortunate demise of Ex-Chairman of Tata Sons, Cyrus Mistry Ji in a road accident near Palghar, Maharashtra. Sincerest condolences to his family members. May he Rest In Peace," tweeted Gadkari.

Taking Twitter, Nationalist Congress Party (NCP) MP Supriya Sule said, "Devastating news. My brother Cyrus Mistry passed away. Can't believe it. Rest in Peace Cyrus."

RPG Enterprises Chairman Harsh Goenka also expressed grief over Mistry's demise.

Who was Cyrus Mistry? Know all about former Tata Sons head who died in accident in Palghar