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Raymond’s Chairman and MD Gautam Singhania has taken this decision along with wife Nawaz Modi Singhania after 32 years of marriage. Now news is coming that Nawaz Modi Singhania along with his two daughters Niharika and Nisha have demanded 75 percent share of Gautam Singhania’s net worth. Gautham’s total wealth is 1.1 billion dollars (about 11 thousand crore rupees). This has been said in a report of Economic Times. Let us tell you that Gautam Singhania shared the information about his separation from his wife on social media.
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Singhania is ready to accept the demand!
According to a person with knowledge of the whole matter, Gautam Singhania is almost ready to accept the demand. However, he advised creating a family trust. It is proposed to transfer the entire property and money of the family to this trust, he will be the sole trustee of this trust. After his death his family members will receive the property as a will. It is being said that Nawaz Modi Singhania does not like this proposal.
Who makes the contract?
Khaitan & Company senior partner Hargrave Khaitan has been appointed by Gautam Singhania as his legal advisor and Mumbai-based law firm Rashmi Kant has been appointed by Nawaz as his legal advisor. Akshay Chudasama, managing partner of Amarchand Mangaldas & Co., is very close to both parties. Continuous efforts are being made to reconcile the two on this entire issue.
An official said on condition of anonymity, “At the initial stage it appears that not much has changed. These types of family issues are very complex. Especially when both parties are very concerned about the children. Let us tell you that the conversation is going on between the two parties. However, no final decision has been made yet. Gautam and Nawaz lived together for the past 32 years. But on Diwali, Gautam Singhania shared the news of his separation from his wife on social media account X. Raymond’s chairman and MD did not discuss the reasons for their separation in that tweet.