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In the last 7 days, the investors of Raymond Company have suffered a loss of 1,500 crores. The reason behind this is the divorce case between Gautam Singhania and Nawaz Modi, which is taking a heavy toll on the company. Gautam’s father Vijaypat has said that the name of the company will now depend on the bankers and shareholders.
Regarding the divorce between Gautam and Nawaz, she said, “Gautam is breaking up Raymond, which is breaking my heart. I have lived my life. What should he do? He has to decide his own goals.”
Regarding Nawaz Modi, Vijaypat said, “He won’t get much by fighting like this, so why is he asking for 75 per cent share. His aim is to buy everyone and everything. As far as I know, no small lawyer is a Hindu. “Can get 50 per cent share under Marriage Act.”
Also read, The relationship between the billionaire husband and wife deteriorated, investors lost faith! Shares rise
In an interview to Business Today, Vijaypat said that Raymond took a long time to build the company. It was a very small blanket manufacturing company when we bought it and then I took over and today it is famous all over the world. Let us tell you that Vijaypat resigned in 2015 after handing over the reins of the company to Gautham.
A fight broke out between father and son
Vijayapatha and Gautama had been at loggerheads for some time over property and many other reasons. As per the 2007 family settlement, Vijaypat, his son Gautam and Vijaypat’s brother Ajaypat Singhania’s wife and two sons were to get a duplex each in JK House. But Vijaypat had alleged in 2017 that Raymond had not given him possession of a duplex in the high-rise JK House building in south Mumbai.