<h1>British-Indian life peer and steel magnate dies, leaving industrial and philanthropic legacy after controversial 1980s takeover battles</h1> A prominent British-Indian entrepreneur and life peer died, leaving a legacy in manufacturing, commerce and philanthropy. He founded a multinational steel and engineering group with global operations and substantial turnover, chaired an Indo-British association, was knighted and later ennobled, and received a high civilian honor from his country of origin. Personal tragedies prompted the creation and later renaming of a family charitable foundation that funded education, health and children's causes. His career included high-profile hostile takeover attempts in the 1980s that triggered governmental and legal intervention; he ranked among the nation's wealthiest individuals.