Boss of steel works Caparo, Angad Paul, dies after falling from penthouse
Angad Paul, the 45-year-old CEO of British steel maker, Caparo Industries, died after falling from his eight-floor penthouse home in London on Saturday. He was the son of Indian-born steel magnate and philanthropist Lord Swraj Paul of Marylebone.
He was pronounced dead after police were called to the family’s suite of 10 luxury apartments in Portland Place, London. His body was recovered by fire crews from a ledge at the rear of the block. He had suffered catastrophic injuries. His death is not being treated as suspicious.
Mr Paul, who was married to lawyer Michelle Bonn, shares the property with his parents and twin brothers Ambar and Akash.
Lord Paul, now said to be worth around £2 billion, founded Caparo after moving to Britain in 1966 and his son consequently took over the running of the company.
The group employs hundreds of people in the West Midlands but, following the collapse of the steel industry in the UK over recent weeks, several of Caparo’s factories have closed with hundreds of redundancies in the Black Country. Caparo was filed for bankruptcy last month, putting 1,700 jobs at risk. It lost $8 million last year, due to a collapse in steel prices and the strong pound.
Sixteen of the group’s companies are currently in administration and plants in Darlaston, Dudley and Hartlepool have closed down.