Gautam Thapar was bornon 7 December 1960 in India. Chemical engineer Gautam Thapar's net worth is down nearly half a billion as his Avantha Group's main businesses struggled. Shares of his flagship Crompton Greaves, maker of power equipment fell 16%, weighed down by rising costs, Chinese competition and weak European markets. Paper firm Ballarpur Industries saw margins fall due to supply glut. Group is reportedly mulling an insurance venture with Ergo, arm of Munich Re.
In July 2013, King's College, London conferred an Honorary Fellowship inrecognition of Gautam's 'exceptional achievements in the fields of industry and philanthropy'
In 2010, he took over as the chairman of the board of governors of the Mumbai-based business school NITIE, for a 4-year period
He received the Ernst & Young Entrepreneur of the Year Award for Manufacturing in 2008
Gautam Thapar became the Chairman of the Group on 1 July 2006
In 2005, he handed over the reins of the business empire to Gautam, along with his voting rights, shares and most of his personal effects in his will
Gautam became the Chairman of Crompton Greaves on 22 July 2004
The family's assets were divided into four in 1999, with Gautaum's older brother Karan parting ways in 2005
Gautam Thapar (born 7 December 1960) is an Indian businessman and founder of the Avantha Group