New Delhi, April 30: Dubai police on Wednesday confirmed that UAE-based Indian industrialist Joy Arakkal committed suicide by jumping from his office building in Business Day in Dubai. According to cops, the 54-year-old business committed suicide due to financial problems on April 23. “It was a suicide. Investigations are over and his body will be flown back to India,” Brigadier Abdullah Khadim Bin Sorour, Director of Bur Dubai police station, Khaleej Times reported.

Arakkal is survived by his wife Celine Joy and two children Arun Joy and Ashley Joy. His was the managing director of Innova Refining and Trading FZE. According to reports, he was incurring heavy losses in petroleum and shipping business.

Arakkal's mortal remains will be brought by a charted flight to Kozhikode International Airport, Onmanorama reported. He is a native of Mananthavady in Kerala's Wayanad district.

Arakkal was among the Indian businessmen who were awarded the 10-year Gold Visa card by the United Arab Emirates government in 2019. His firm was involved in reprocessing petroleum and petrochemical products. His company has refineries in Ras al Khaimah and Sharjah in the UAE and Dammam in Saudi Arabia.

(The above story first appeared on LatestLY on Apr 30, 2020 09:43 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).