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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CM Sai says Chhattisgarh now 'free' of Naxalism, hails March 31 as historic day for state
Raipur (PTI): Chief Minister Vishnu Deo Sai on Tuesday asserted Chhattisgarh was now "free" of Naxalism and described March 31, the deadline set by the Centre to eradicate Maoism, as a "historic" day for the state, which was once a hotbed of the violent movement.
Targeting the Opposition Congress, Sai alleged that during the 'Bharat Jodo Yatra', party leader Rahul Gandhi had shared the stage with Naxalites at several locations.
Speaking on sidelines of a programme in Raipur, the CM thanked Prime Minister Narendra Modi and Union Home Minister Amit Shah for providing decisive leadership in the fight against Left-wing extremism (LWE) and said the insurgency had long been a major obstacle to development.
"Today marks a truly historic day for Chhattisgarh as Naxalism is being eliminated from the state. On behalf of the 30 million people of Chhattisgarh, we extend our deepest gratitude to Prime Minister Modi ji and Home Minister Amit Shah ji," he said.
In 2024, the Centre set a deadline of March 31, 2026, to completely eliminate Naxal violence from the country.
The vast Bastar region, once an epicentre of Naxal violence, remained largely untouched by development for 40 years, but it can now progress rapidly, Sai maintained.
Asked about Shah's statement in the Lok Sabha on Monday that when Rahul Gandhi undertook his march, many Leftists joined it, Sai said, "during the 'Desh Jodo Yatra' undertaken by the Congress MP, he met Naxalites at numerous locations.
At several places, Naxalites even shared the stage with him (Gandhi), the BJP leader alleged.
"When notorious Naxal leader Madvi Hidma, responsible for killing hundreds of people, including our security personnel, was neutralised (in late 2025), people chanted slogans that 'many more Hidmas will emerge'. Gandhi even posted them (slogans) on social media, which shows his intent," the CM stated.
When pointed out that former CM Bhupesh Baghel used to claim that evidence regarding the deadly Jhiram Ghati attack by Maoists was in his "pocket", Sai said, "When the Congress was in power, it failed to act despite claiming to have enough proof."
Even after being in power for five years (2018-23), they could neither investigate the Jhiram Ghati case nor produce the so-called proof, the CM opined.
The Maoist attack on May 25, 2013, targeted a Congress convoy during the party's 'Parivartan Rally' ahead of assembly elections, killing 32 people, including then Chhattisgarh Congress chief Nand Kumar Patel, former Leader of Opposition Mahendra Karma, and ex-Union minister V C Shukla.
In a series of posts on 'X', Sai spoke about the end of Naxalism in the BJP-ruled state.
"A Fear-Free Bastar, A Naxal-Free Chhattisgarh. Where once the echoes of gunfire resounded, today flows a new current of development, trust, and good governance. Emerging from the shadow of fear, Bastar is now marching forward with unwavering resolve on the path of self-confidence and progress," he noted.
He credited effective policies of the BJP-led governments in Chhattisgarh and at the Centre for the turnaround in Bastar, which was once associated with Naxal violence.
"This transformation is the fruit of our 'Double Engine' governments' steadfast resolve, effective policies, and unwavering trust of people. A place where peace has triumphed over fear and security has inspired confidence. Prosperity is steering Bastar's bright future toward new heights," Sai noted.
A new chapter of peace, development, and trust has started in Chhattisgarh, especially in Bastar, the CM declared.
"Today, every village shines with light, every path leads to development, and every face bears not fear, but a smile. The sunrise of March 31, 2026, stands witness to Bastar's transformation - from a region once defined by fear to one embracing a hopeful and bright future. A New Bastar, A New Chhattisgarh, a new chapter of peace, development, and trust," he asserted.
