Indian American CEO Sanjay Shah dies in tragic accident while celebrating his company’s 25th anniversary

In a heart-wrenching turn of events, Indian American Sanjay Shah tragically lost his life while commemorating his company’s 25th anniversary at Ramoji Film City in Hyderabad, India, on January 19.

According to reports, Shah, the CEO of Vistex, met with a fatal accident when an iron cage being lowered onto the stage malfunctioned and plummeted from a height of 15 feet. The cage was in the process of descending to the stage, assisted by ropes and pulleys with the aid of a rolling machine.

Tragically, one of the two wires connected to the iron cage unexpectedly snapped, leading to the entire structure crashing onto the concrete stage below.

Shah was rushed to a hospital, where he passed away on Friday morning. Vistex President Vishwanath Raju Datla, who was alongside Shah during the incident, suffered a head injury and is currently in critical condition.

Vistex founder Sanjay Shah pays $17 million to buy Trump Tower penthouse in Chicago (December 10, 2014)

Inspector M. Manmohan of the local Abdullapurmet police station informed the Deccan Chronicle newspaper that a specially designed wooden stage had been set up 20 feet above the concrete stage using a crane. It was secured with a 6 mm iron wire having two layers on both sides. He added that during the performance, one side of the rope suddenly snapped, resulting in the stage falling onto the people below, directly impacting Shah and Datla.

The Chronicle reported that the police are investigating Usha Kiran Events, the event management body of Ramoji Film City.

This heart-rending incident has cast a somber shadow over what was intended to be a joyful celebration.

“I am shocked and deeply saddened with the tragic demise of good friend, entrepreneur, philanthropist and Indiaspora member Sanjay Shah,” wrote M.R. Rangaswamy, founder of Indiaspora, in a Facebook post. “He was a lovely human being who led with quiet confidence and gave back generously including building a world class hospital in India. He will be sorely missed! May his soul rest in peace. Om Shanti!”

According to the company website, Vistex was founded by Shah in 1999. It has offices in 20 locations worldwide and employs more than 2,000. The company’s clients include GM, Barilla, and Bayer.

“Under Sanjay’s leadership, Vistex has grown into a global organization dedicated to transforming how businesses across multiple industries bring their products and services to market by taking control of mission-critical processes,” the site says.

Shah made headlines more than nine years ago when he purchased the most expensive condominium in Chicago’s real estate history – a penthouse located on the 89th floor of the Trump Tower, for a staggering $17 million in cash.

The 14,260-square-foot penthouse boasts five bedrooms and eight bathrooms, offering an unparalleled 360-degree view of Chicago’s skyline.

Initially listed at $32 million, Shah managed to seal the deal after engaging in nearly two years of negotiations with the Trump Organization. The American Bazaar reported, “Shah’s record-breaking $17 million purchase price surpassed the previous high-water mark in Chicago, set by hedge-fund billionaire Kenneth Griffin in 2012 when he acquired a full-floor penthouse in the Park Tower for $15 million. Nevertheless, Trump agreed to a deal that fell short of its $32 million asking price.”

The penthouse is within the Trump International Hotel & Tower Chicago, which has a total of 486 residential units.