Angad, 45, educated at Massachusetts Institute of Technology (MIT), was the CEO of the diversified Caparo group founded in 1968 by his father, Lord Paul died after falling eight storeys’ penthouse in Central London on Sunday, 10th November. He was pronounced dead on the spot.
The London police said that it was inquiring into the circumstances of the incident but treating Mr. Paul’s death as non-suspicious at this stage. “Since his death is not considered suspicious, the case will now be transferred to the coroner for further enquires,” said a Scotland Yard spokesperson. Importantly, in the United Kingdom, suicide cases fall under the jurisdiction of the coroner.
Angad's father, Lord Paul, 86, became one of the richest men in Britain with an estimated net worth of £2 billion after founding the steel empire in 1996. The Caparo group with a turnover of some 1.5 billion dollars annually, encompasses 40 companies employing approximately 10,000 people worldwide including India.
As an entrepreneur with commendable drive, Angad made India his special focus in recent years and set up around 25 plants across the country dealing with automotive ancillaries, steel tubes, power and financial services. His tragic death comes in the backdrop of a recent crisis facing the Caparo industries which has been hit by a collapse in steel prices, forcing over 15 of its companies to be put into administration, a process similar to liquidation.
Angad is survived by his wife Michelle, their two children, besides his parents Lord Paul and Mrs. Aruna Paul and three siblings. The cremation will happen on Thursday,14th November.