Paul’s death, which police deemed “non-suspicious,” comes after the steel company Caparo announced 450 job cuts with the future of another 1,200 uncertain.
On Twitter, Indian entrepreneur Suhel Seth wrote, “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.
”Angad Paul is the son of Lord Swraj Paul, who founded Caparo in 1968 with a £5,000 loan and was worth £2 billion in 2014, according to the Birmingham Post’s rich list.
Lord Paul passed stewardship of Caparo to his son in 1996. In addition to embarking on numerous business ventures, Angad Paul also served as the executive producer on many of Guy Ritchie’s films, including “Lock, Stock and Two Smoking Barrels,” and “Snatch.”
He also financed the Caparo T1, which was the fastest supercar in the world when it debuted in 2006.Caparo entered administration last month after being heavily affected by collapsing steel prices and the strong pound.
The steel industry as a whole has suffered of late. SSI, of Redcar & Cleveland in northeastern England recently collapsed, while the BBC reported Tata Steel has also announced cutbacks. In all, about 4,000 jobs were lost in the sector in October alone.
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