Muthoot was largely credited for making Muthoot Finance a pan-India firm, and the biggest gold loan NBFC.
Following the event, the scrip fell 6.57 per cent to hit a low of Rs 1,205 on BSE.
Police acquired info on Friday at 9:21 pm concerning the admission of MG George Muthoot at a hospital after he fell from the fourth ground of the home, and was later declared useless, a senior officer stated.
“Enquiry carried out into the matter and statements have been recorded. The CCTV cameras have been additionally checked. He was taken to Fortis Escort Hospital the place he died throughout therapy. On Saturday, his publish mortem was carried out at AIIMS. No foul play is suspected. Inquest proceedings are being achieved,” PTI quoted Deputy Commissioner of Police (South East Delhi) RP Meena as saying.
Muthoot, 71, was for lengthy based mostly within the nationwide capital regardless that his diversified group that runs over 20 companies, from gold loans to securities, realty property to infrastructure, hospitals to hospitality and schooling, is headquartered in Kochi, making it one of many largest enterprise homes within the state.
“MG George Muthoot’s sudden and sudden demise will likely be an irreparable loss to the Firm, staff, all stakeholders, household, and associates. All administrators and staff of the Firm convey deep sympathy, sorrow and condolences to his household,” Muthoot Finance stated in a regulatory submitting on Saturday, with out giving motive for the reason for dying.
He was chargeable for scaling up the Muthoot Group’s presence past the southern area by increasing its department presence throughout the northern, jap and western areas of the nation, and thereby reworking the corporate right into a pan-India organisation, it stated.
He was instrumental in turning gold mortgage finance an organised enterprise.
Muthoot Group flagship Muthoot Finance had a mortgage e book of near Rs 56,000 crore within the quarter ended December 2020. The group has grown manifold underneath him — when he took over, it had simply 31 branches. It has over 5,550 branches throughout the nation and out of doors at the moment, based on PTI.
Forbes Asia listed him because the forty fourth richest Indian in 2020 with near $5 billion property, and in addition the richest Keralite.