Muthoot Group Chairman MG George Muthoot, Kerala's Richest Man, Falls To Death At His Delhi Home
Muthoot Group Chairman MG George Muthoot, Kerala's Richest Man, Falls To Death At His Delhi Home.
Muthoot, who was also the trustee of the influential and powerful Orthodox church of Kerala, is widely credited for transforming his group's flagship firm Muthoot Finance Ltd in to financial behemoth
Muthoot group Chairman MG George Muthoot passed away at his residence in Delhi on Friday (Mar 6) night. He was 72.
“M G George Muthoot's sudden and unexpected demise will be an irreparable loss to the Company, employees, all stakeholders, family, and friends. All directors and employees of the Company convey deep sympathy, sorrow and condolences to his family," the Muthoot Finance said in a regulatory filing on Saturday (Mar 6) without giving reason for the cause of death.
According to the police report, Muthoot lost balance and fell to his death from the fourth floor of his home in Delhi’s East of Kailash.
“We received information at Amar Colony police station on Friday night at 9.21 pm that George, aged 72, fell from the fourth floor of his house,” Indian Express quoted R P Meena, DCP (Southeast), Delhi Police as saying.
News agency ANI quoted Delhi Police sources ruling out any foul play in the murder.
Muthoot, who became the chairman and managing director of the group in 1993, played an instrumental role in the growth of the group in to a diversified conglomerate that runs over 20 businesses from gold loans to securities, realty estate to infrastructure, hospitals to hospitality and education.
Muthoot is also credited for transforming the group's flagship firm Muthoot Finance Ltd in to a financial behemoth with a revenue of Rs 8,722 crores ($1.3 billion). It has over 5,400 branches across India and 166 tons of gold in safe custody.
Muthoot expanded the footprint of Kochi-headquartered company beyond south India by setting up branches across the country, which today serve more than 200,000 customers daily. Muthoot is credited with making the lending process transparent and customer friendly.
Muthoot along with his family was ranked No. 26 in the list of India’s richest people in 2020 with a fortune of $4.8 billion (Rs 32,900 crores).
Muthoot was an Executive Member of the Federation of Indian Chambers of Commerce and Industry (FICCI) and the has acted as the Chairman of FICCI Kerala State Council.
Muthoot was also the trustee of the influential and powerful Orthodox church of Kerala
George is survived by wife Sarah George Muthoot, director of St George High School in New Delhi, his children Muthoot Group executive director Geroge M George, Group director Alexander George and Late Paul Muthoot George(who was murdered)
The murder of his then 32-year-old Paul Muthoot was a subject of frenzied speculation in Kerala media. Some alleged that his murder was a political conspiracy while others alleged that it was personal vendetta. The Kerala police have stated that it is a road rage incident and Paul Muthoot was stabbed to death as a result of that.
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