The founder of Raymond Group, Vijaypat Singhania, recently discussed the family conflict surrounding the divorce settlement of his son Gautam Singhania. People from all around the world are interested in knowing where is Vijaypat Singhania now, so we will cover everything there is to know in this article. Thus, read this article through to the very conclusion!
Where Is Vijaypat Singhania Now?
Together with his father, L K Singhania, the 85-year-old industrialist and former textile mogul created the Raymond Group in 1944. From modest beginnings as a clothesmill, the company has grown to become the largest suit garment producer globally. There was a time when Vijaypat Singhania ruled the entire Raymond empire. He was among the wealthiest men in India at the time. However, he now rents an apartment all because of his son’s divorce saga.
In addition to receiving numerous honours over his career, Singhania was also awarded the Padma Bhushan, the nation’s third-highest civilian honour. In 2016, Singhania made the decision to give his son Gautam ownership of the company.
Prior to now, Singhania struggled with deciding how to divide the business between his two sons, Gautam and Madhupati. But because of familial strife, Madhupati gave up his possessions and his interest in Raymond and cut off all contact with the Singhanias.
In the end, Vijaypat gave his son Gautam 37% of the Raymond Group. His grandchildren lost their legal battle to challenge this transfer. The acrimonious divorce settlement between Gautam Singhania and his estranged wife Nawaz Modi has now given rise to another family conflict. The latter insisted on receiving 75% of the billionaire’s net worth for herself and her daughters.
📉 Gautam Singhania announcing separation from wife Nawaz Singhania has led to 12% decline in Raymond Ltd. stock since Nov 13.. wiping out over ₹1,500 crore ($180 million) in market value
Nawaz has sought 75% of Gautam Singhania’s $1.4 billion fortune as part of settlement.… pic.twitter.com/m6f9KitWXB
— Nabila Jamal (@nabilajamal_) November 22, 2023
Vijaypat Singhania Regrets Giving Everything To His Son
The billionaire’s father, Vijaypat Singhania, spoke out about the family conflict and bemoaned providing “everything” to his son as the separation of Raymond Group MD Gautam Singhania and his wife, Nawaz Modi Singhania, continues to garner media attention.
Do you want to know Gautam Singhania’s net worth?
The founder of the Raymond Group, Vijaypat Singhania, expressed sorrow over his “stupid” decision to give his son “everything”. He also discussed Gautam Singhania’s withdrawal of his offer to acquire a portion of the company.
“I have no business,” declared the former textile magnate in an exclusive interview with Business Today. “He (Gautam) had agreed to give me some parts of the company, but of course, he backed out. So, I have nothing. I gave him everything. By mistake, I was left with some money which I am surviving today. Otherwise, I would have been on the road.”
Indian Billionaire, VIJAYPAT SINGHANIA, a Businessman And Aviator, EVICTED by HIS SON After He hands over ALL HIS WEALTH to him.
Heartbreaking 💔
Enjoy your wealth if you have it and like he said; let your children get your wealth ONLY when you are dead! #EvilChild #India… pic.twitter.com/0HhIYu9432
— HBones Media (@HbonesMedia) December 5, 2023
Ultimately, Vijaypat Singhania’s public criticism of his son Gautam highlights the difficulties even the wealthiest families encounter and the intricacies involved in striking a balance between family, business, and money. This brings an end to our discussion regarding where is Vijaypat Singhania now. Visit our page, Digi Hind News, for the most recent information.