Raymond's man Vijaypat Singhania who once was one of the richest men in the country is now facing a big financial crisis, and shockingly one who is responsible for this is none another than his own son Gautam Singhania.
Vijaypat the retired Raymond Tycoon, who spent decades on building the big brand Raymond, gifted company's share of worth Rs 1,000 crore to his son Gautam.Now the son has denied for giving him any thing including, house, car, and driver.
Against this Vijaypat is fighting a battle in court and recently has filed a petition in the Bombay High Court seeking possession of duplex in JK House in Malabar Hill, Mumbai. JK House was a 14-storey structure when it was revealed in 1960. Four duplexes in the building were later handed over to a Raymond subsidiary Pashmina Holdings. In 2007, the company decided to go in for redevelopment.It was a deal that Singhania and Gautam Veenadevi, widow of Singhania's brother Ajaypat Singhania; and her sons Anant and Akshaypat were to get a 5,185 sq ft duplex each in the new building on a payment of Rs 9,000 per sq ft.
Singhania's lawyer senior advocate Dinayar Madon alleged that two Raymond employees — Jitender Agrawal and RK Ganeriwala — have disappeared suddenly. These employees supervise the property, bank accounts and private files of his client.Now after hearing the case, Justice Girish kulkarni has asked them to try and settle the case among themselves.
The next date of hearing has been scheduled for August 22