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STExplore the remarkable journey of a man who, once wealthier than Mukesh Ambani, now grapples with the challenge of upholding a respectable lifestyle. The Singhania family captures headlines with the divorce of Chairman and Managing Director Gautam Singhania from his wife, Nawaz Modi. In the divorce settlement, Nawaz seeks 75% of Gautam’s assets totaling Rs 11,660 crore. Intriguingly, Gautam’s father, Vijaypat Singhania, former head of Raymond, stands by Nawaz rather than his own son.
At 85, Vijaypat shares in an interview, “The Hindu Marriage Act mandates 50% of a husband’s assets to be transferred to his wife in a separation. Why demand 75%? Gautam’s relentless ambition to acquire everything led to my loss. I lacked the means to resist, and he gained everything. This battle won’t benefit Nawaz much.”
Once the mastermind behind the entire Raymond empire, Vijaypat Singhania, formerly one of India’s wealthiest, now resides in a rented apartment. His wealth once surpassed Mukesh Ambani’s, establishing him as the Raymond Group owner before Ambani’s rise. However, Vijaypat’s fortunes plummeted when his son expelled him from his own home. Now, he struggles to support himself and maintain a dignified existence. The rift began when Singhania transferred all company shares to Gautam, marking the inception of their strained relationship. The animosity escalated, culminating in Gautam reportedly evicting Vijaypat Singhania.
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