Son of Caparo founder falls to death from London home

Son of Caparo founder falls to death from London home

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Angad Paul, 45, was pronounced dead at the scene in central London on Sunday morning.

The Metropolitan Police said the death was being treated as “non-suspicious”, although inquiries were continuing.

His tragic death comes in the backdrop of a crisis facing the Caparo industries, which have been hit by a collapse in steel prices, forcing 16 of its companies to be put into administration, a process that is an alternative to liquidation.

No-one from the Paul family was available to comment last night.

Angad Paul, son of billionaire Lord Paul, fell eight storeys, landing on the roof of a building below where his body was spotted by horrified onlookers.

In 1984, the business was sold to Caparo Industries Plc.

Around 450 redundancies at the firm were announced last month in what trade unions described as a “devastating” blow to the British steel industry.

On Sunday night, close friends paid their respects as news of the sudden tragedy spread.

In 2010 interview with the FT he said the disadvantage of a family business was: “Your family is completely at risk if the business has problems”.

His company has an annual turnover of more than $1.5bn (£1bn) and has interests in hotels, interior design and financial services, as well as steel, according to its website.

He worked with Guy Ritchie on Lock, Stock and Two Smoking Barrels and Snatch, with James Cordon on comedy horror Lesbian Vampire Killers, Gene Hackman in Heartbreakers and Paris Hilton in National Lampoon’s Pledge This!

Paul’s father, Lord Paul, who was born in the city of Jalandhar, north-west India, founded the business in 1968 with a £5,000 loan.

He had made an attempt in creating the world’s fastest road-legal supercar, the £800,000 Caparo T1.

It costs hundreds of thousands of pounds to buy and was developed by former McLaren F1 engineers but discontinued ten years ago.

Lord Paul, who has donated around £500,000 to Labour and is friends with Gordon Brown, is one of the country’s 50 wealthiest people, with a fortune estimated at £2bn.

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