VIJAYPAT SINGHANIA FOUNDER OF RAYMOND LTD SAYS HIS SON GAUTAM HAS REDUCED HIM TO HAND-TO-MOUTH LIFE
Dr Vijaypat Singhania, who built Raymond Ltd into one of the
largest apparel brands in the country
Ex-tycoon’s lawyer alleges his client’s simple perks such as
a car and a driver have been withdrawn and payment of rent to an alternate
accommodation withheld.
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Dr. Vijaypat Singhania is locked in a legal battle
with Raymond, a firm he helped build.
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He alleges that his son, Gautam Singhania, has forced
him to live a hand-to-mouth existence.
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The retired tycoon claims he is struggling financially
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He gave away a substantial portion of his wealth and
ownership in the company to his son.
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Subsequently, he alleged that he was not provided
adequate financial support.
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He has stated that he now lives in a rented apartment
in Mumbai.
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He has also been involved in legal disputes with his
son over property and maintenance.
This case study reinforces
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Family business succession planning
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Estate transfer without safeguards
YOUR COMPLIANCE PARTNER – R V SECKAR FCS, LLB 79047 19295
