Muthoot Group chief MG George Muthoot passed away at 71

Muthoot Group Chairman MG George Muthoot passed away in New Delhi on Friday evening, the company said in a regulatory filing.

Muthoot Finance is one of the largest Gold Loan Non-Banking Financial Company (NBFC) in India.

However family sources said he had a fall in the house and could not be saved. His sudden and unexpected demise will be an irreparable loss to the company, employees, all stakeholders, family, and friends, the filing said.

Delhi Police said, “Muthoot Group Chairman MG George Muthoot fell from 4th floor of a building in East of Kailash, Delhi yesterday. He was rushed to Fortis Escort Hospital & was declared dead during treatment. Today, his postmortem was conducted. No foul play is suspected,”
Mathai George George Muthoot was born in November 1949 in Kozhencherry in the present day Pathanamthitta district of Kerala as the son of M George Muthoot, who began the finance business and as the grandson of Muthoot Ninan Mathai, the group founder.

After graduating from the Manipal Institute of Technology with a degree in mechanical engineering, Muthoot joined the family business as an office assistant and in 1979 he became the managing director and group chairman in February 1993.                                                                                                                                          Lalitha.p correspondent Vijayawada