Indian CEO of US-based firm falls to death at Ramoji Film City in Hyderabad
Sanjay Shah, CEO of a US-based private company, succumbed to his injuries and another official suffered serious injuries in an accident during the silver jubilee celebrations of the firm at Ramoji Film City in Hyderabad, police said on Friday.
Shah, the CEO of software firm Vistex, and his colleague Raju Datla, the president of the firm, entered an iron cage, during celebrations on Thursday evening, intended to be lowered from a height. However, one side of the iron chain supporting the cage broke, leading to the fall of both individuals.
Vistex had arranged accommodations for its staff at Ramoji Film City and had planned a two-day celebration for its silver jubilee. "Shah and Raju being lowered from the cage onto the dais was a planned event to kickstart the celebrations," a company official told The Times of India.
"Suddenly, one of the two wires attached to the cage snapped. Both plunged more than 15 feet and landed on the concrete dais. This caused multiple injuries," sub- inspector D Karunakar Reddy of Abdullapurmet police station told the newspaper.
They were rushed to the hospital, but Shah passed away while undergoing treatment, and his colleague is in serious condition, the police said. They added that a case was registered against the Film City event management authorities based on a complaint made by another company official.
Vistex is an Illinois-based firm specialising in revenue management solutions and services. With 20 global offices and more than 2,000 employees, the company serves leading brands such as GM, Barilla, and Bayer.
Shah, the founder of Vistex, has also established the Vistex Foundation and the Vistex Institute for Executive Learning and Research at Lehigh University.
According to various sources, Sanjay Shah's net worth was estimated to be around $250 million at the time of his death.
Sanjay Shah, CEO of a US-based private company, succumbed to his injuries and another official suffered serious injuries in an accident during the silver jubilee celebrations of the firm at Ramoji Film City in Hyderabad, police said on Friday.
Shah, the CEO of software firm Vistex, and his colleague Raju Datla, the president of the firm, entered an iron cage, during celebrations on Thursday evening, intended to be lowered from a height. However, one side of the iron chain supporting the cage broke, leading to the fall of both individuals.
Vistex had arranged accommodations for its staff at Ramoji Film City and had planned a two-day celebration for its silver jubilee. "Shah and Raju being lowered from the cage onto the dais was a planned event to kickstart the celebrations," a company official told The Times of India.
"Suddenly, one of the two wires attached to the cage snapped. Both plunged more than 15 feet and landed on the concrete dais. This caused multiple injuries," sub- inspector D Karunakar Reddy of Abdullapurmet police station told the newspaper.
They were rushed to the hospital, but Shah passed away while undergoing treatment, and his colleague is in serious condition, the police said. They added that a case was registered against the Film City event management authorities based on a complaint made by another company official.
Vistex is an Illinois-based firm specialising in revenue management solutions and services. With 20 global offices and more than 2,000 employees, the company serves leading brands such as GM, Barilla, and Bayer.
Shah, the founder of Vistex, has also established the Vistex Foundation and the Vistex Institute for Executive Learning and Research at Lehigh University.
According to various sources, Sanjay Shah's net worth was estimated to be around $250 million at the time of his death.
