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NRI oil tycoon Joy Arakkal commits suicide in Dubai

Joy Arakkal was the Managing Director of Innova Refining and Trading FZE in UAE. He had been in the petroleum business for the last 20 years and hailed from Manathavady in Wayanad

twitter-logoBusinessToday.In | April 30, 2020 | Updated 08:17 IST
NRI oil tycoon Joy Arakkal commits suicide in Dubai
Joy Arakkal (centre) was awarded the Business Golden Visa- 2020 by Dubai Immigration. (Photo: LinkedIn)

The Dubai Police have confirmed that non-resident Indian businessman Joy Arakkal committed suicide by jumping off a building on April 23 due to financial problems. The Dubai-based Keralite businessman jumped off from the 14th floor in the Business Bay area.

His mortal remains will be brought back from the UAE by a charted flight to Kozhikode International Airport. The Ministry of Foreign Affairs and Home Ministry have granted permission for the charted air ambulance. Four family members, including Arakkal's wife Celine and children, Arun and Ashley, will accompany his mortal remains to Kozhikode.

Arakkal was the Managing Director of Innova Refining and Trading FZE in UAE. He had been in the petroleum business for the last 20 years and hailed from Manathavady in Wayanad.

Arakkal was among the Indian businessmen awarded the 10-year Gold Card visa by the UAE government in 2019. His 45,000 square feet "Arakkal Palace" in Manathavady is considered to be one of the largest homes in Kerala.

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