Muthoot Finance chairman MG George Muthoot died on Friday evening after apparently falling from the fourth floor of his home in Delhi, east of Kailash.
Police received information at 9:21 p.m. on Friday regarding the admission of MG George Muthoot to a hospital after falling from the fourth floor of the house and was later pronounced dead, a senior police official told PTI.
“The case was investigated and statements were recorded. CCTV cameras were also checked. He was taken to Fortis Escort Hospital where he died during treatment. On Saturday his autopsy was carried out at AIIMS No criminal act is suspected Investigation proceedings are underway, “said Deputy Commissioner of Police (South East Delhi), RP Meena.
Muthoot, 71, has long been based in the nation’s capital, though his diverse group that manages more than 20 businesses ranging from gold lending to securities, real estate to infrastructure, hospitals to hotels and restaurants. Education, is headquartered in Kochi, making it one of the largest corporate houses in the state.
“The sudden and unexpected disappearance of Mr. G. George Muthoot will be an irreparable loss to the company, employees, all stakeholders, family and friends. All directors and employees of the company express their deep sympathy, sadness and condolences to his family, ”Muthoot Finance said. in a regulatory filing on Saturday without giving a reason for the cause of death.
He was responsible for strengthening the presence of the Muthoot group beyond the southern region by expanding its presence in branches to the north, east and west and thus transforming the company into a pan-Indian organization, a- he declared.
He was instrumental in transforming gold lending finance into an organized business.
Mathai George Muthoot was born in November 1949 in Kozhencherry in the present district of Pathanamthitta in Kerala as the son of Mr. George Muthoot, who started the financial business and as the grandson of Muthoot Ninan Mathai, the founder of the group .
After graduating with a Mechanical Engineering degree from the Manipal Institute of Technology, Muthoot joined the family business as an office assistant and in 1979 he became Managing Director and Chairman of the Group in February 1993.
In the early 1980s, the large family broke up and the family empire was split among cousin brothers, leading to the formation of the Muthoot Pappachen Group, another diverse group in the state that runs the rival loan company. ‘or Muthoot Fincorp.
Muthoot Group’s flagship product, Muthoot Finance, had a loan portfolio of nearly Rs 56,000 crore in the December 2020 quarter.
The group has grown significantly under him – when he took over it had only 31 branches, but today has more than 5,550 branches across the country and outside the group.
Muthoot leaves behind his wife Sara George and two sons. While the oldest son George M George is the group’s executive director, the youngest son Alexander George is the group director and the second son Paul Muhoot George was murdered in 2009.
He was also a lay administrator of the powerful Orthodox Church in the state and was also a member of the national executive committee of Ficci and headed the council of Ficci Kerala.
Forbes Asia ranked him as the 44th richest Indian in 2020 with nearly $ 5 billion in assets and the richest Keralite.
(With PTI entries)
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Posted on: Sunday March 07, 2021, 2:06 PM IST