Muthoot Finance chairman MG George died after falling from fourth floor
Delhi Police denies any foul play
New Delhi, Mar 6: M G George Muthoot, largely credited for making the Muthoot Finance a pan-India and the largest gold loan NBFC, passed away on Friday evening in a freak incidence of falling from the fourth floor of his house.
As the chairman of the company, he played a pivotal role in taking Muthoot Finance to new heights, expanding its reach across the country and even overseas especially to the Middle East.
Police received information on Friday at 9.21 pm regarding the admission of M G George Muthoot at a hospital after falling from the fourth floor of the house and was later declared dead, a senior police officer said.
"Enquiry conducted into the matter and statements were recorded. The CCTV cameras were also checked. He was taken to Fortis Escort Hospital where he died during treatment. On Saturday, his post mortem has been conducted at AIIMS. No foul play is suspected. Inquest proceeding is being done," Deputy Commissioner of Police (South East Delhi) R P Meena said.
Muthoot, 71, was for long based in the National Capital even though his diversified group that runs over 20 businesses from gold loans to securities, realty estate to infrastructure, hospitals to hospitality and education, is headquartered in Kochi making it one of the largest business houses in the state.
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 without giving reason for the cause of death.
He was responsible for scaling up the Muthoot Group's presence beyond the southern region by expanding its branch presence across north, east and west and thereby transforming the company into a pan India organization, it said.
He was instrumental in making the gold loan finance into an organised business.
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.
In the early 1980s, the large family broke up and the family empire was divided between the cousin brothers and this led to the creation of Muthoot Pappachen Group, another diversified group in the state which runs rival gold loan company Muthoot Fincorp.
The Muthoot Group's flagship Muthoot Finance had a loan book of close to Rs 56,000 crore in the December 2020 quarter.
The group has grown manifold under him--when he took over it had just 31 branches but has over 5,550 branches across the country and outside today and the group.
Muthoot leaves behind wife Sara George and two sons. While eldest son George M George is the executive director of the group, the youngest son Alexander George is the director of the group and the second son Paul Muthoot George was murdered in 2009.
He was also a lay trustee of the powerful Orthodox Church in the state and was also a member of the national executive committee of Ficci and headed the Ficci Kerala council.
Forbes Asia listed him as the 44th richest Indian in 2020 with close to USD 5 billion assets and the richest Keralite.
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Karnataka govt directs municipal corps to regulate, prohibit pigeon feeding
Bengaluru (PTI): The Karnataka government has issued directions to municipal corporations across the state to regulate and prohibit feeding pigeons in public places, citing serious public health concerns.
Deputy Secretary to Government V Lakshmikanth has written to the Urban Development Department requesting it to issue directions to the Greater Bengaluru Authority (GBA) and all municipal corporations to take immediate steps to implement the measures.
In an official note dated December 16 issued by the Health and Family Welfare Department and released to the media on Wednesday, the department said uncontrolled feeding of pigeons in public places has resulted in large congregations of birds, excessive droppings and serious health concerns, particularly respiratory illnesses linked to prolonged exposure to pigeon droppings and feathers such as hypersensitivity pneumonitis and other lung diseases.
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"The commissioner, the Greater Bengaluru Authority and the Commissioners and chief officers of other municipal corporations shall take necessary action to mitigate the causes of dangerous disease spread by pigeon and enforce specified guidelines in their respective jurisdiction," the note said.
According to the department, these include a prohibition on feeding pigeons or causing pigeons to be fed in areas where it may cause nuisance or pose a health hazard to the public. Pigeon feeding shall be permitted only in designated areas in a controlled manner, subject to certain conditions.
"The designated areas may be selected in consultation with stakeholders. The responsibility for upkeep of the designated areas and compliance to the directions shall be taken up by some charitable organisation or an NGO. The feeding in designated areas shall be permitted only for some limited hours in the day," it said.
The note further stated that authorised officers of local authorities shall issue on-the-spot warnings and may impose fines for violation of the order, or lodge complaints to prosecute offenders under Sections 271 (Negligent act likely to spread infection of disease dangerous to life) and 272 (Malignant act likely to spread infection of disease dangerous to life) of the Bharatiya Nyaya Sanhita.
It also directed local authorities to conduct public awareness campaigns, including the display of signboards, banners and digital messages, explaining the health hazards associated with pigeon droppings and feathers, the content of the regulatory directions and penalties for violations, and alternative humane methods of bird conservation that do not endanger public health.
