Billionaire steel magnate's son plunges to his death over business collapse

Angad Paul, wife Michelle and father Lord Paul (far right)

The son of a billionaire steel magnate died in a fall from his penthouse home yesterday as his company teeters on the brink of collapse.

According to Daily Mail,Angad Paul, 45, suffered catastrophic injuries after plummeting from the eight-storey property in central London.
The tragedy comes as administrators battle to save the business founded by his father Lord Paul, 84 – one of the country's richest men.The company, Caparo Plc, has been torpedoed 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.

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

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

With his wife

The Caparo Group is one of Britain's leading companies and includes interests from car component manufacture to hotels and hospitality. But the international conglomerate has suffered as the fortunes of British steel nosedived following the recession and 16 of the 20 businesses under its wing have now been taken into administration.