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Raymond’s, Gautam Singhania, & The Past Controversies: An Explainer

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Raymond’s Chairman and Managing Director, Gautam Singhania, renowned for his opulent and adventurous lifestyle, is currently entangled in a highly publicized separation from his wife of 32 years, Nawaz Modi. The marital discord has taken a dramatic turn, with Singhania sharing a poignant post on Twitter, while Modi’s protest video outside the Raymond Group’s ‘JK Gram’ residence has gone viral. The couple’s separation is marked by intense media coverage, revealing a bitter family history that extends beyond their personal lives.

Dispute Between Gautam’s Father And Eldest Son

The Singhania’s had a bitter past of family disputes. There was a dispute between Gautam Singhania’s father, Vijaypat Singhania, and his elder brother, Madhupati Singhania. Madhupati gave up his claims to his father’s property and moved to Singapore in 1998 due to ideological differences. Gautam Singhania was then appointed as the director of Raymond in July 1999. In 2015, Madhupati’s children demanded rights to their ancestral property, which caused the family feud to resurface. As a result, both the grandfather and parents became plaintiffs in the matter. Gautam, the younger son became managing director of Raymond in July 1999, making significant growth for the company.

Gautam Singhania And Vijaypat Singhania Dispute

The media had previously covered the clash between Raymond’s founder, Vijaypat Singhania, and the current chairman, Gautam Singhania. At 80 years old, Vijaypat Singhania, who successfully transformed a small textile business into a household name in India, faces a series of challenges, particularly since relinquishing his 37 per cent controlling stake in 2015. The Raymond Group, now asserting itself as the world’s largest producer of high-quality worsted wool suits, saw discord arise from a 2007 agreement meant to resolve a family dispute.

According to Mr Vijaypat, the agreement entailed receiving an apartment in the Singhania family’s 36-storey JK House in Mumbai’s upscale Malabar Hill area. However, the agreed-upon price significantly undervalued the property, worth tens of millions of dollars. Gautam Singhania, advising the Raymond board against selling the valuable company asset, further strained relations.

As tensions heightened, the board revoked Mr. Vijaypat’s “chairman emeritus” title, citing abusive language in letters to the company. Additionally, he claims to have been physically removed from his office, with valuable possessions, including a Padma Bhushan, one of India’s top civilian honours, allegedly stolen.

Wife, Divorce, And Drama

Billionaire Gautam Singhania recently announced his separation from his wife, Nawaz Modi, stating that they have chosen different paths after nearly 24 years of marriage. Singhania, the 58-year-old chairman shared the news on social media, “This Diwali is not going to be the same as many in the past. It is my belief that Nawaz and I will pursue different paths from here on.” The couple tied the knot in 1999 after an eight-year courtship.

Following the announcement, Nawaz Modi Singhania, now estranged from Gautam Singhania, has made allegations of physical abuse against her husband. She claims that Gautam Singhania compelled her to walk to the Tirupati temple, despite being aware of her health constraints, leading to her fainting on multiple occasions. Nawaz Modi highlighted Singhania’s strong devotion to Lord Tirupati, believed to bestow devotees with wealth and prosperity.

Her father-in-law and ex-Raymond boss Vijaypat Singhania, came in support of Nawaz Modi. In an interview, he said, “I will give my support to my daughter-in-law, not to my son.” Nawaz Modi demanding 75 per cent of Gautam Singhania’s net worth as a settlement for herself and her two daughters. The unfolding situation adds a layer of complexity to the high-profile separation within the Singhania family.

 

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