Recognised as one of the wealthiest people in Pakistan, he served as vice-chairman of fertiliser company Engro Corporation. His paternal grandfather was born in Gujarat.
The findings will be shared with the International Maritime Organization and others 'to help improve the safety framework' for global submersible operations, the Coast Guard said.
Debris from the Titan submersible, missing since Sunday, was detected Thursday by a robotic diving vehicle deployed from a Canadian ship as part of an international rescue effort.
The vessel carried Pakistani businessman Shahzada Dawood and his 19-year-old son Suleman, British billionaire Hamish Harding, French explorer Paul Henry Nargeolet, and OceanGate CEO Stockton Rush.
Other experts in industry and whistle-blowing employee raised alarms in 2018, criticizing OceanGate for opting against seeking certification and operating as experimental vessel.
The Swiss heritage watch brand Favre-Leuba performed well during the 70s and 80s after which it disappeared from the market. It was then acquired by the Titan Company in 2011.
Titan was set up in 1984 as a joint venture between the Tata group and a state govt. While the Tatas own 25.02% stake, the state govt owns 27.88% stake in the company.
This is the game every nation is now learning to play. Some are finding new allies or seeing value among nations where they’d seen marginal interest. The starkest example is India & Europe.
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