Vijaypat Singhania of Raymonds Sued by his Grandchildren
Raymonds group Chairman Vijaypat Singhania is being taken to court by his four grandchildren who want a part of the family money.
He is the Complete Man: chairman emeritus of Raymond, former Sheriff of Mumbai and accomplished aviator. Dr Vijayapat Singhania has had a long and distinguished career. Now a family dispute threatens to drag him to the Bombay High Court.
Four of Dr. Singhania’s grandchildren have filed a case against him and Raymond seeking a share of their ancestral wealth. Singapore-based Ananya (29), Rasaalika (26), Tarini (20) and Raivathari (18) are children of his eldest son Madhupati and his wife Anuradha.
As per a family agreement signed by Madhupati in 1998, the couple had given up their right to the family money and moved to Singapore. Madhupati, as the natural guardian had also signed away the inheritance rights of his children. However, this is being challenged by the four children who are all now adults.
According to the website, The Golden Sparrow:
Claiming their right to ancestral property, Dr Singhania’s grandchildren mention that while their father struggled to make ends meet and provide basic amenities to them, his younger brother, Gautamhari (Gautam Singhania) and his family led a luxurious life ‘with fancy cars, private jets, yachts and expensive holidays.’
The website also says, “While Gautam Singhania in a span of 14 years as CMD of Raymond Limited has built a personal net worth of Rs 1.4 billion, Madhupati belonging to the same family was struggling to settle down in a new country, educate his children and make a new life, mentions the suit.”
The case will come up for hearing before the Bombay High Court today.
Subscribe To Our Daily Newsletter And Get News Delivered Straight To Your Inbox.