Singhanias offer refreshing twist to usual tale
Singhanias offer refreshing twist to usual tale
The elites of SoBo earlier acknowledged as South Bombay were a witness to their fair share of high-society family feuds, failed reconciliations, and dramatic settlements.
But the Singhanias have stepped forward to offer a refreshing twist to the usual tale.
As per sources close to the family, in a bewildering twist, textile baron Gautam Singhania and his estranged wife Nawaz Modi Singhania chose to bury the hatchet and reunite for a new life at the family’s luxurious home, JK House.
One of the sources opened up that Gautam Singhania and wife Nawaz have settled their dispute, and it led to the reunion of the couple and their two daughters. They also broadly decided on wealth inheritance.
A media query sent to the Singhanias did not elicit any response.
In November, 2023,
Singhania, chairman and MD, Raymond Ltd, announced of his parting ways with wife Nawaz after a 32-year relationship. They have two daughters, 19-year-old Niharika and 11-year-old Nisha. In April last year, Nawaz was removed from the boards of three privately held companies within the Raymond Group.
However, she continued as the director of Raymond Ltd, a post she resigned from a couple of weeks ago after returning to JK House.
Earlier, when she was removed from the boards of the group companies, Nawaz had stated that she was mistreated for exposing Singhania’s misdeeds. She had demanded 75% of Gautam Singhania’s net worth as part of the divorce settlement, including 25% for her daughters.
In her resignation letter to Raymond Ltd, Nawaz Modi said she was stepping down due to personal reasons. She is thankful to the Board of Directors for the memorable association in the midst of her tenure and for supporting her throughout her term.
It’a learnt that Gautam Singhania fell out with his father, Vijaypat Singhania, over property disputes. Their disagreement came to a head in 2017 when Vijaypat Singhania alleged that Raymond Ltd had denied him a promised duplex in the family-owned JK House in South Mumbai. Such disagreements over wealth and separation are not uncommon among Mumbai’s business families.
Recently, the Godrej cousins amicably settled their differences and divided the business, much like the Ambani brothers did nearly two decades ago.
The Raymond Group is sharpening its focus on its core business areas—lifestyle, real estate, and engineering—to drive future growth. The company maintains a strong presence in textiles and apparel, along with consumer care, real estate, and engineering sectors.
In 2023, it divested its FMCG business, which included deodorants and sexual wellness products, selling it to Godrej Consumer Products for ₹2,825 crore.
News Edit KV Raman
