Gautam Singhania, chairman and managing director of garments and apparel company Raymond, said that his personal life has nothing to do with his business. He said, ‘I don’t want to comment on whatever happened between us. I am completely focused on my business and will keep an eye on the results. Actually, Singhania had announced separation from his wife Nawaz Modi Singhania on 13 November 2023. Recently, three companies of Raymond Group have removed Nawaz Modi from their boards. JK Investors Limited (JKI), Raymond Consumer Care (RCCL) and Smart Advisory & Finserv have ousted Nawaz Modi from the board through an Extra Ordinary General Meeting (EGM) on March 31. When Singhania was asked about this, he said that due to lack of trust, some companies have removed him from the board. Singhania said – My personal life is my personal life. In an interview given to Economics Times, Gautam Singhania said that all businesses are growing. My personal life is my personal life, I will deal with it. I have two beautiful daughters and in their interests I declined to comment. My personal life is not related to anyone in the business sector. ₹10,000 crore Raymond Group is growing rapidly Gautam Singhania said that ₹10,000 crore Raymond Group is growing rapidly. Lifestyle division-apparel and fabric have major stake in it. He also talked about the organization structure of the group. Singhania said – We have made changes in the organization and we have a strong governing board. Over the past 36 months we have had new members come on board. We have CEOs in each business and as the business grows they will be divided into SBUs (Statistics Business Units). Nawaz Modi wants 75% share in the property for separation. According to the report, after the announcement of separation from Gautam Singhania, Nawaz Modi has set a condition for separation. He has asked for 75% share in the total wealth of 1.4 billion dollars (about 11 thousand crore rupees). After this, on November 22 last year, Raymond’s shares reached a low of ₹ 1,666 on BSE. However, since then the stock has seen improvement. Today Raymond’s stock is trading at the level of 2,161 with a decline of about 3%. Singhania has many businesses including clothes, real estate and many other businesses. Gautam Singhania is the chairman and managing director of Raymond Group. His net worth is around Rs 11 thousand crores. Raymond Group has businesses including clothing, denim, consumer care, engineering and real estate. The group has a strong presence in the readymade garments market. It is also a leading manufacturer in the denim category. The company supplies high quality denim. Nawaz’s father was not ready for marriage. Gautam had told in an interview that it was not easy to make a Parsi girl his wife. Nawaz’s father was not ready for marriage, but he had to bow down to his daughter’s insistence. Even after marriage, due to cultural differences, Gautam and Nawaz had to make many adjustments. Gautam has also had a dispute with his father Vijaypat Singhania. Gautam Singhania has been accused of even throwing his father out of the house. Vijaypat Singhania laid the foundation of Raymonds.
