Sunil Kanti Roy, the managing director of Kolkata-based diversified conglomerate Peerless Group, breathed his last at a hospital here, family sources said. He was 78.
Roy was suffering from old age-related ailments, they said.
He was put on ventilation on Saturday after his health condition deteriorated. He died on Sunday night.
He is survived by wife, son, daughter and two grandchildren.
Roy, a recipient of Padma Shri, had taken over the responsibilities of the conglomerate from his elder brother, B K Roy, after his death in 1985.
Extending his condolences, Kolkata mayor Firhad Hakim wrote, Deeply saddened at the demise of Padma Shri, Sunil Kanti Roy, ace entrepreneur & managing director of Peerless Group. His passing marks the end of an era for business in Bengal. My condolences to his friends & family. May his soul rest in peace.