Heir to steel magnate jumps to his death over crashing business

November 10, 2015 1:19 AM

Daily Mail reports that, Angad Paul, 45, suffered catastrophic injuries after plummeting from the eight-storey property in central London.

Angad Paul with wife, Michelle and father, Lord Paul

The son of a billionaire steel magnate, has been reported to have died in a fall from his penthouse home yesterday as his company teeters on the brink of collapse.

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Daily Mail reports that, Angad Paul, 45, suffered catastrophic injuries after plummeting from the eight-storey property in central London.

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

The tragedy comes on the heels of administrators battle to save the family business founded by his father, Lord Paul, 84, one of the country's richest men.

The company, Caparo Plc, has been crushed 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 in the balance.

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

The Caparo Group is one of Britain's leading companies and includes interests from car component manufacture to hotels and hospitality.

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Sadly, the international conglomerate has suffered as the fortunes of British steel nose dived following the recession and 16 of the 20 businesses under its wing have now been taken into administration.