Vijaypat Singhania, former chairman of Raymond Group, denies rumors of reconciliation with son Gautam despite a viral photo showing them together. Singhania reveals the meeting was orchestrated by Gautam, suggesting ulterior motives. The relationship between father and son remains strained amid ongoing family disputes. The photo sparked speculation of a truce, but Singhania's clarification dispels any notions of harmony within the Singhania family.
The stock has tumbled 12% since Nov. 13 when Singhania announced separation from Nawaz Singhania, his wife of 32 years and a Raymond board member, erasing more than $180 million in market value. The shares fell as much 4.4% on Wednesday, set for the biggest drop since Oct. 25.
Gautam Singhania, Raymond group chairman and a car racing enthusiast, criticized the performance Maserati MC20 supercar on Indian roads, deeming it the 'worst' car he drove. Maserati had responded. Singhania later reiterated his dissatisfaction. He highlighted safety concerns, describing the car as dangerous on uneven roads.
Gautam Singhania, chairman of the Raymond Group, announced his separation from wife Nawaz Modi Singhania. Without detailing the reasons, he expressed a mutual decision to part ways while prioritizing the well-being of their children, Niharika and Nisa. Singhania urged privacy and respect for their personal choices. Prior to this, he shared updates about Raymond Realty's expansion in Mumbai. Singhania, previously known for expanding the Raymond Group, had earlier faced public attention due to the feud disagreements with his father, Vijaypat, who founded the conglomerate. Alongside business ventures, Singhania shares a passion for high-speed car racing like his aviator father.
When MC20 super sports car was launched in late 2021, the supercar drew the attention of many Indians who wanted to own the mean machine that can do over 325 kmph. Known for his love for supercars, Singhania hasn't been driving this vehicle, and the car has been cooling off in the garage of his home in a tony south Mumbai locality.
Gautam Singhania, Chairman of Raymond Group and founder of The Super Car Club, expressed safety concerns regarding Maserati MC20, urging potential buyers to speak to him before purchasing.