Years of dispute resolved! Gautam Singhania and Nawaz Modi agreed on…, to live together in Rs 60000000000…

After several years Gautam Singhania, the Chairman and MD of Raymond Group, and his wife Nawaz Modi Singhania have resolved disputes. The couple has decided to live together again at the JK House in Mumbai. They have also reached a common ground on the division of assets. While the Singhania family has not released an official statement, Fortune citing sources close to the family confirmed the news.

According to media reports, Gautam Singhania and Nawaz Modi Singhania reunited around a month ago, along with their two daughters. The couple has agreed on a property division arrangement. JK House, their family house in South Mumbai, will once again be their residence.

This resolution has come after a long- time public dispute. In November 2023, Gautam Singhania announced his separation from Nawaz after 32 years of marriage. The couple has two daughters, 19 year old Niharika and 11 year old Nisha.

Nawaz Modi Resigns From Raymond

In April 2022, Nawaz Modi Singhania was removed from the boards of three private companies under the Raymond Group, but she was a director at Raymond Limited. However, recently she resigned from her position on the Raymond Limited board over personal reasons. 

Earlier, Nawaz had publicly alleged mistreatment by the Raymond Group after she spoke about alleged wrongdoing. She had also demanded 75% of Gautam Singhania’s assets, out of which 25% was for their daughters.

Family Property Disputes

Gautam Singhania was also in controversy over property disputes with his father, Vijaypat Singhania. In 2017, Vijaypat alleged that Raymond Limited had refused to fulfill its promise to provide him a duplex apartment in JK House.

The Raymond Group has now focused on its core businesses, like lifestyle, real estate, and engineering. The company also operated in textiles, apparel, consumer care, and engineering sectors. In 2023, Raymond sold its FMCG business, including its deodorant product line, to Godrej Consumer Products for Rs 2,825 crore.

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