Chennai, May 17 (IANS): British billionaire and Hinduja Group Chairman Srichand Parmanand Hinduja passed away in London on Wednesday, a family spokesperson said.

S.P. Hinduja (87) was the eldest of the four brothers.

A statement issued by the family spokesperson read: "Gopichand, Prakash, Ashok and the whole Hinduja family with a heavy heart regret to announce the passing away of our family patriarch, and Chairman of the Hinduja Group, S.P. Hinduja today.

"He was a visionary and mentor to the family bestowing the founding principles and values of our late father, P.D. Hinduja. He played a very important role alongside his brothers in building a strong relationship between his host country, the UK, and his home country, India.

"A titan among his peers, S.P. Hinduja truly lived and embodied the Hinduja Group's founding principles and values. A deeply spiritual and philanthropic person, he was courageous in action and generous at heart. His loss has left a huge void as the brothers have always been four bodies and one soul.

"The Hinduja family is in grief and sorrow at his demise. Our prayers to the Almighty to grant his soul eternal place at His Lotus Feet. Om Shanti, Om Shanti, Om Shanti."

One of the richest persons in the UK, S.P. Hinduja began his business career at his father Parmanand Deepchand Hinduja's trading business that had merchant banking and trading operations in Iran.

Merchant banking and trade were the twin pillars of the Group's business. The Group remained headquartered in Iran till 1979 before moving to Europe.

Over the years, the Hinduja Group under the leadership of S.P. Hinduja diversified its operations and today spanning across continents, the group has interests in commercial vehicles (Ashok Leyland), lubricants (Gulf Oil), banking (IndusInd Bank), IT, media, entertainment & communications, infrastructure projects, oil & specialty chemicals, power, real estate, healthcare and other sectors.