2024-05-07 03:28:19
New Delhi: Raymond CMD Gautam Singhania has said that personal life and business are separate. Amidst the dispute with his wife and father, he has said that his personal life is not related to his businesses. His business achieved strong growth after the Corona epidemic. Raymond is a leading textile and apparel manufacturing company. 58 year old Singhania is currently embroiled in a settlement dispute with his estranged wife Nawaz Modi Singhania. The two had announced their separation in November last year. Gautam’s father Vijaypat Singhania is also inclined towards his daughter-in-law. The Raymond chief told ET in an interview that the recent removal of Nawaz Modi from the boards of some group companies was due to ‘lack of confidence’ in him.
Gautam Singhania said, ‘I do not want to talk about what has happened between us. All businesses are growing. He emphasized that his personal life is private. He will see to it personally. Referring to his two beloved daughters, he said that he has refused to make statements in their interest. Gautam Singhania concluded by saying that his personal life is not relevant to anyone in the business sector.
On November 22 last year, Raymond’s shares had reached a low of Rs 1,666 on the Bombay Stock Exchange (BSE). There were reports that Nawaz Modi Singhania has asked for 75% share of the property. Since that time the stock has seen improvement. As of May 3, the share price stood at Rs 2,227.45.
Discussion on restructuring of three companies
JK Investors (Bombay), Raymond Consumer Care and Smart Advisory & Finserv, three private companies of the Raymond Group, had removed Nawaz Modi Singhania from their boards in early April. Gautam Singhania was re-appointed MD. This appointment is effective from July 1, 2024. Nawaz Modi Singhania did not answer the questions. She had alleged that her husband had assaulted her and one of their daughters in September last year. Both of them were married in 1999.
As far as his directorship at Raymond is concerned, Gautam Singhania said it depends on the company’s board. It has a good group of independent directors.
10 thousand crore rupees group growing
Gautam said, Rs 10,000 crore Raymond Group is growing rapidly. Its lifestyle division holds a major stake in the group. This division includes apparel and fabric. At the same time, new real estate business shows potential to grow. Singhania said, ‘Our group businesses are growing rapidly.’
Singhania, who is facing challenges in his marriage, also does not have good relations with his father Vijaypat. However, he shared a photo with her in March. Gautam Singhania told that he does not let his personal life become a hindrance in his work. “I take each day as it comes,” he said. I think if you do the right thing, you get good sleep.