India

Vijaypath Singhania blames son Gautam Singhania for his financial strive

Vijaypath Singhania blames son Gautam Singhania for his financial strive
Written by Pallavi Parmar

Vijaypath Singhania who is one of the richest men of India and the person who created Raymond limited company blaming his son Gautam Singhania for the financially unreliable situation as per the several reports. The 78-year-old richest person now turns down to a penniless man. And now he is not leading the luxurious life that he used to live. He is an old broke person who cannot even afford a car, driver or rent for his alternative accommodation.

Vijaypath Singhania built Raymond limited as one of the largest apparel brands in the country. The man who built and nurtured the brand for almost 20 years is now living in a rented row house in south Mumbai’s upscale Grand Paradi society. And he is totally blaming his son Gautam Singhania for his miserable condition. Earlier in this week, Vijaypath Singhania filed a petition before the Bombay High Court for seeking possession of a duplex in the redeveloped 36-storey JK House on Malabar Hill. As Vijaypath Singhania and his son are at loggerheads over JK House. The first 14-storey structure storey of JK house was revealed in 1960. And then in 2007 the 4 duplexes in the building before the company decided to redevelop were given to a Raymond subsidiary Pashmina Holdings.

The former Raymond owner Vijaypath Singhania accused Raymond Ltd of not handing over the ownership of the house to him despite repeated reminders. And in the petition, he also claimed Gautam Singhania for running Raymond like his personal business. His senior advocate Dinyar Madon told the court that the retired tycoon now facing the financial problem as he gave all his wealth to his son. And now his son is driving him out of everything. Although in hearing the Justice Girish Kulkarni has asked them to try and settle the case between themselves. And provide them with the next date of hearing for August 22.

About the author

Pallavi Parmar

Journalism is my profession, Blogging and Writing are my passion, Travelling is my love, Food is my life and Feminist by nature.