An eminent Midland business magnate was one of several Asian entrepreneurs to scoop awards at an awards ceremony in London last night.

Lord Swraj Paul, head of steel firm Caparo and former chancellor of Wolver-hampton University, was honoured for his work with and investment in the Black Country community at the tenth Eastern Eye Awards.

The 75-year-old businessman, who was made a baron in 1996, was one of six winners to collect awards at the glittering bash held at Grosvenor House Hotel in the company of various celebrities including MP George Galloway and pop act Liberty X.

Lord Paul, valued along with his family at £465 million in this week's Asian Rich List, received the community award for his work with charities, including one set up in memory of his daughter Ambika.

He came to Britain in 1966 to seek medical help for Ambika, who was seriously ill, but after her death in 1968 he decided to stay in the UK and set up Caparo.

Mike Jatania, boss of cosmetics firm Lornamead, was named British Asian businessman of the year. The Ugandan-born multi-millionaire, who is said to be worth £850 million, owns and runs Lornamead with his brothers George, Vin and Danny.

The firm has acquired cosmetics brands from leading companies like Unilever and Proctor and Gamble, and its products are now sold in more than 60 countries worldwide.

Gurmeet Khangura, chairman of Ethnic Media Group, which publishes Eastern Eye, said: "We are proud to celebrate ten years of honouring the Asian men and women in the UK business market.

"They have not only established themselves as important contributors to the nation's economy, but their innovation and hard work have further inspired younger entrepreneurs striving to achieve the same levels of success for themselves."