Raymond Group: Veteran Tycoon Vijaypat Singhania Speaks on Recent Meeting With Son Gautam Amid Rumors of Reconciliation; Here’s What He Said
Raymond Group: Vijaypat Singhania, former chairman of the renowned Raymond Group, has refuted claims of reconciliation with his son Gautam Singhania, the current head of the textile conglomerate. Recent social media activity sparked speculation about a potential reconciliation between the two.
Last week, Gautam Singhania posted a photo on Instagram featuring himself and his father, accompanied by a caption expressing happiness at having his father home and seeking his blessings. However, Vijaypat Singhania revealed to India Today TV that the invitation from his son was made with an ulterior motive, aimed at sending a misleading message to the media. According to Singhania, his son’s assistant extended the invitation on March 20, prompting Gautam to personally persuade him to visit for coffee via a video call.
In an exclusive conversation with Today Technology Market Researchin November 2023, Vijaypat Singhania discussed the intricacies of transferring business responsibilities to his son Gautam. He highlighted the challenges faced by families in transitioning business control. The seasoned industrialist also cautioned parents against transferring all their property to their children while still alive, emphasizing that doing so was his biggest mistake.
In December 2023, Gautam Singhania announced that he has separated from his wife Nawaz, in an announcement that came amid speculation over the future of their 32-year relationship. The billionaire industrialist, whose net worth is reported to be over Rs 11,000 crore, made the announcement over microblogging platform X, saying it was not the same Diwali as in the past. The industrialist is helming the multi-decade old group having roots in textiles, which branched out into newer ones like real estate. The couple has two children.
