Joy Arakkal had received many awards including a lifetime achievement award. (FILE)
The death of a Dubai-based Indian industrialist, who died after falling from a high-rise building last week, was a case of suicide over financial problems, police confirmed after an investigation, according to a media report.
Joy Arakkal, who hailed from Kerala and was the managing director of Dubai-headquartered Innova Group of Companies which had diverse businesses, with major focus in the oil sector, committed suicide on April 23 by jumping from the 14th floor of a friend's building in Business Bay, Dubai police told Gulf News on Wednesday.
"The businessman committed suicide over financial problems," Brigadier Abdullah Khadim Bin Sorour, director of Bur Dubai Police Station, said, ruling out any criminal suspicion behind the death.
Police said they are coordinating with the businessman's family for the repatriation of his body.
Mr Arakkal is survived by his wife and two children who live in Jumeirah.
Consul General of India in Dubai Vipul told Gulf News that Arakkal's family is set to fly home with his body after Indian authorities give them special permission to travel in a chartered air ambulance.
"They have received the NOCs (No Objection Certificates) from India. We have taken it up with the UAE MoFAIC (Ministry of Foreign Affairs and International Cooperation) for necessary permits from the UAE side," Mr Vipul said.
Once the approval is received, the chartered air ambulance by ICATT will fly in from Bangalore to carry the family and the mortal remains of Mr Arakkal.
A few social workers and community leaders, who were coordinating with Mr Arakkal's family or the repatriation procedures, attended the embalming service on Tuesday.
Mr Arakkal's funeral will be held in his hometown in Mananthavady in Wayanad district.
His companies include oil refineries, petrochemical trading, ISO tank cleaning services, shipping services and a telecom company working for infrastructure projects in the UAE.
He had received many awards including a lifetime achievement award from Kerala Chief Minister Pinarayi Vijayan during his visit to Dubai.