SAD: Billionaire Steel Magnate Son Plunges to His Death as Business Collapses

Angad Paul, the 45-year-old son of a billionaire steel magnate died in a fall from his penthouse home in central London yesterday. His company is said to be on the brink of collapse even as administrators fight to save the business founded by Angad’s father, 84-year-old Lord Paul, who is acclaimed to be one of the country’s richest men.

The embattled company, Caparo Plc, has been hit by the collapse in steel prices and was forced into administration weeks ago with the loss of 450 jobs across the UK and another 1,200 jobs in the balance.

Emergency services raced to a building beside his home in Portland Place, Marylebone, yesterday morning after Angad, father-of-two, was seen lying on the roof, Mirror UK reports.

A Metropolitan Police spokesman said there were no suspicious circumstances and officers are preparing a file for the coroner.

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Paul was a high-profile chief executive who married 40-year-old lawyer Michelle Bonn in 2005. He shares the property with his parents, Lord and Lady Paul, and his 57-year-old twin brothers Ambar and Akash. His sister Ambika died of leukemia shortly after his parents traveled to England from India in the 1960s to seek medical treatment.

The Caparo Group is one of Britain’s leading companies and includes interests from car component manufacture to hotels and hospitality. But the international conglomerate has suffered as the fortunes of British steel nosedived following the recession and 16 of the 20 businesses under its wing have now been taken into administration. Job losses followed at factories across the UK and all websites associated with Caparo have been suspended.