Yahoo Finance Angad Paul: Steel Boss Dies In Fall From Flat
The boss of a steel company which is close to collapsing has died after falling from his penthouse flat.
Angad Paul was pronounced dead at the scene in central London on Sunday morning, and police say they are not treating his death as suspicious.
Large-scale job cuts have been announced at the 45-year-old's steel company Caparo as administrators PwC try to save the business.
Some 450 redundancies were announced at the firm last month, in what was described by trade unions as a "devastating" blow to the steel industry.
The future of 1,200 more jobs remains uncertain.
Despite his family's vast wealth and Caparo's annual turnover of more than $1.5bn (£1bn), the company called in administrators after the collapse in steel prices and the strong pound left the business struggling.
Friends of Mr Paul spoke of their sadness at his apparent suicide.
Indian entrepreneur and columnist Suhel Seth wrote on Twitter: "Deeply saddened to learn of the suicide of Angad Paul in London.
"He was young and bright. Deepest condolences to Lord Swraj Paul and family."
A Metropolitan Police spokeswoman said officers were called to Portland Place just after 11am on Sunday.
She said: "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."
Mr Paul's father Lord Paul founded the business in 1968 with a £5,000 loan.
He passed ownership of the firm to his son in 1996.
Mr Paul, who had a degree in economics from the Massachusetts Institute of Technology, was involved in a number of business ventures.
Caparo has interests in hotels, interior design and financial services in addition to steel.
Mr Paul was behind the Caparo T1, which was the world's fastest supercar when it launched in 2006.
In 2004, Mr Paul married media lawyer Michelle Bonn in a ceremony at London Zoo.
:: If you feel suicidal or vulnerable, contact the Samaritans on 116 123.
