Vijaypat Singhania was known for its unique identity in the Indian entrepreneur and business community for many decades. His name at one time emerged as the highest rich in the Indian opposition market compared to Mukesh Ambani. But today, when we look at his biography, we find a story that is full of lessons and inspiration.
Raymonds and the Singhania family have been in the news after Chairman and Managing Director Gautam Singhania announced his divorce from his wife Nawaz Modi. As per the divorce settlement, Modi has demanded 75 percent of Singhania’s assets worth Rs 11,660 crore. Now Gautam Singhania’s father and former Raymond MD Vijaypat Singhania has come out in support of Nawaz instead of his son Gautam.
“As I know, under the Hindu Marriage Act, 50% of the husband’s share automatically goes to the wife upon separation,” Singhania, 85, said in an interview. A very ordinary lawyer under the Hindu Marriage Act Can get her this. Why is she fighting for 75%? Gautam is never one to give up as his principle is to buy everyone and everything. This is what they did to me. I didn’t have that kind of money left to fight them. He bought everything. ‘I will buy everything,’ she said. Fighting like this, I don’t think he’ll get much.” At one time Vijaypat Singhania used to run the entire Raymond empire. He was one of the richest men in India at that time. However, he now lives in a rented apartment.
He was once richer than Mukesh Ambani because Ambani was much younger when Vijaypat was already the owner of Raymond Group. But, his luck took a turn when his son threw him out of the house. His life is difficult to maintain, and he struggles to live a decent one.
It all started when Singhania transferred all the shares of his company to Gautam and from then onwards their relationship started falling apart. According to a Business Today interview with Vijaypath Singhania, once a dispute over land escalated so much that Gautam threw Vijaypath Singhania out of his own house.