This man was once richer than Mukesh Ambani but is now struggling to maintain a decent lifestyle. Know his story here.
Raymonds and Singhania's family have been making headlines since the announcement of Chairman and Managing Director, Gautam Singhania's divorce with wife Nawaz Modi. As part of the divorce settlement, Modi has demanded 75 per cent of the Rs 11,660 crore property of Singhania. Now, Gautam Singhania's father and former MD of Raymond, Vijaypat Singhania has come out in support of Nawaz instead of his own son Gautam.
85 years old Singhania said in an interview, "Under the Hindu Marriage Act as I know, 50% of the husband's holding automatically goes to the wife in a separation. A very simple lawyer can get her that under the Hindu Marriage Act. Why is she fighting for 75%? Gautam is never going to give in because his motto is to buy everybody and buy everything. That's what he did with me. I didn't have that kind of money left to fight him. He bought everything. He'll buy everything. By fighting like this, I don't think she'll get much,"
Vijaypat Singhania, at one time, ran the whole Raymond empire. He was at that time one of the richest men in India. But today he lives in a rented apartment.
he was once richer than Mukesh Ambani because Ambani was very young when Vijaypat was already the owner of Raymond Group. But, his fate took a turn when his son ousted him from his house. Vijaypat Singhania is struggling to maintain his life and is struggling to live a decent life.
It all started when Singhania wrote all his company shares in Gautam's name and since then their relationship started to fall apart. One time the feud grew so much, over a land, that Gautam threw Vijaypat Singhania from his own house, according to an interview of Business Today with Vijaypath Singhania.
Read: ‘Raymond's name will..’: Vijaypat Singhania finally breaks silence on Gautam Singhania-Nawaz Modi split
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