Raymond chairman and managing director (MD) Gautam Singhania and his father Vijaypat Singhania have made amends after an ugly public spat over his separation from Nawaz Modi. The Raymond boss on Wednesday posted on social media platform X welcoming his father home. ‘’Happy to have my father at home today and seek his blessings. Wishing you good health Papa always,” Gautam Singhania wrote on X posting a picture with his father.
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Reportedly, this comes after Vijaypat handed over the company’s reins to Gautam in 2015, and years later went public, saying he had made a ‘stupid’ mistake of giving everything to his son and that parents should “think very carefully before they give away everything to their children”.
“And if I say something which he doesn’t like, he may scream at me, he may abuse me. He does all these kinds of things. So, I would probably try to keep away as much as I can,” said Vijaypat in an exclusive interview to news website Business Today. Vijaypat, in the interaction, also said that his since his son took away everything from him, he survives on the little money he is left with.
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Currently, Gautam is in the middle of a divorce battle with his wife Nawaz Modi. She has demanded 75 per cent of his wealth as part of the settlement. They have two daughters — Niharika and Nisa. Gautam’s father also said that he would not want to interfere in the decision made by Gautam Singhania and Nawaz Modi Singhania. He made it clear that he stands by his daughter-in-law and will support her and not his son, according to Business Today.
Vijaypat revolutionized Raymond to a world-renowned brand from a small fabric company. On Wednesday, March 20, shares of Raymond settled 1.38 per cent higher at ₹1,731.80 apiece on the BSE.
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Published: 20 Mar 2024, 05:37 PM IST