Caparo CEO Commits Suicide Business Close To Bankruptcy

In 2014, Caparo announced plans to create an even lighter and much more strong version of the T1. Dubbed T1 Evolution, It was supposed to receive an updated chassis and drivetrain, and a 700-horsepower engine. As enticing as that may sound, the T1 Evolution may possibly not see the light of day as the firm is on the verge of bankruptcy and its chairman committed suicide.

According to The Guardian, Caparo&#8217s chief executive Angad Paul, has died following falling from his penthouse flat in London last week. The 45-year-old businessman was pronounced dead at the scene. His death comes as Caparo, a steel firm that also owns Caparo Automobile Technologies, has filed for bankruptcy and laid off hundreds of workers.

It&#8217s believed that Caparo&#8217s current issues and uncertain future pushed Angad to commit suicide.

Caparo was founded by Lord Swraj Paul, Angad&#8217s father, in 1968. Angad Paul took more than in 1996. Caparo Vehicle Technologies was established in 2006, when Caparo acquired Freestream, a British business that offered advanced technology development, materials engineering, and design services to automotive, motorsport and aerospace markets. Freestream was originally founded by Graham Halstead and Ben Scott-Geddes &mdash two engineers that worked on the McLaren F1 project.

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