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Monday, November 9, 2015
Billionaire steel magnate's son Angad Paul falls to his death from penthouse
A boss at embattled steel company Caparo died after falling from his penthouse home.
Angad Paul, son of billionaire Lord Paul, fell eight storeys, landing on the roof of a building below where his body was spotted by horrified onlookers.
Firefighters were called to lead the operation to get him down and paramedics pronounced the 45-year-old dead at the scene in central London.
Police last night said there were no suspicious circumstances and they were investigating the circumstances behind the fall.
Indian entrepreneur, author and socialite Suhel Seth tweeted: “Deeply saddened. He was young and bright. Deepest condolences to Lord Swraj Paul and family.”
Mr Paul’s father Lord Paul is ranked the 47th richest person in Britain with an estimated wealth of £2.2billion.
After moving to Britain from India in 1966, he founded Caparo group with a £5,000 bank loan.
It grew to encompass 40 companies, employing 10,000 people worldwide and turning over more than £1bn a year.
The PLC is one of Britain’s leading firms and includes interests from car component manufacture to hotels and hospitality.
In 2002, Mr Paul, who once tried to create the world’s fastest road-legal supercar, became chief executive of the company that has recently been savagely hit by thecrisis engulfing the UK steel industry .
Caparo Industries has been rocked by the collapse in steel prices and was forced into administration weeks ago with the loss of 450 jobs across the UK.
Another 1,200 employees face an anxious wait to find out their future.
Hit hard in recent months, 16 of the 20 businesses currently under its wing have been taken into administration.
Administrators are reportedly looking at whether a number of failed ventures led by Mr Paul contributed to the company’s collapse.
Mr Paul had interests in several projects, including cars, film and design.
He was executive producer on Guy Ritchie gangster hit “Lock, Stock and Two Smoking Barrels” and teamed up with Stella McCartney’s husband Alasdhair Willis to launch posh furniture firm, Established & Sons.
He married media lawyer Michelle Bonn in 2005.
A source close to Lord Paul said last night: “It is hard, a son is a son.”
A Met Police spokesman said: “Police were called at approximately 11:05hrs on Sunday November 8 to reports of a man fallen from height from a building in Portland Place, WC1.
“London Ambulance Service and London’s Air Ambulance both attended and the man, believed to be in his mid-40s, was pronounced dead at the scene.
“London Fire Brigade have also been called to the scene to assist with the recovery of the body.
“The man’s next of kin has been informed, although we still await formal identification.
“Enquiries into the circumstances of the incident continue but it is being treated as non-suspicious at this stage.”