Since the news of Gautam Singhania’s divorce from his wife Nawaz Modi was announced, Raymonds and the Singhania family have been in the news. Modi has asked for 75% of Singhania’s property, worth Rs 11,660 crore, as part of the divorce settlement. Vijaypat Singhania, the father of Gautam Singhania and the previous MD of Raymond, has now publicly endorsed Nawaz over Gautam.
“As far as I know, under the Hindu Marriage Act, 50% of the husband’s holdings automatically goes to the wife in a separation,” 85-year-old Singhania stated in an interview. According to the Hindu Marriage Act, a very basic lawyer can obtain that for her. She is battling for 75%, but why? Gautam’s motto is to acquire everything and everyone, thus he will never back down. He treated me in that manner. That was too much money for me to battle him with. He made all the purchases. He’ll purchase everything. I don’t think she’ll gain anything by battling like way.”
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. Because Mukesh Ambani was still a small child when Vijaypat took over as Raymond Group’s owner, he used to be wealthier than Ambani. However, when his son kicked him out of his home, his destiny changed. Vijaypat Singhania is having difficulty making ends meet and leading a respectable life.
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Their relationship began to deteriorate after Singhania transferred all of his company’s shares into Gautam’s name. According to Vijaypath Singhania, there was a moment when the fight over a piece of land became so intense that Gautam drove Vijaypat Singhania out of his own home.
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