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According to family members, Maini died in Bengaluru at his residence on December 26 after prolonged illness at the age of 87.
He is survived by wife Reva and three sons, Chetan, Gautam and Sandeep.
Hailing from Punjab, Maini established the Maini Group in 1973.
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He encouraged his son Chetan to commercialise India’s first electric vehicle Reva car, named after his wife.
Maini had done his degree in mechanical engineering from the Banaras Hindu University. He had studied industrial administration in the United Kingdom.
For six years from 1967, he was the general production manager for MICO-Bosch in Bengaluru and later launched his own company Maini Group.
Mourning his death, Biocon chief Kiran Mazumdar Shaw tweeted, ”Celebrated Industry doyen and founder of the Maini Group Sudarshan Maini passed away on 26th December after a prolonged illness. He will be remembered as a pioneering entrepreneur who supported his son Chetan to commercialise Indias first EV Reva, his wife’s name. May his soul RIP.”