The ongoing dispute between Raymond Group's Chairman and Managing Director Gautam Singhania and his spouse Nawaz Modi is far from over. Speaking openly with India Today, Nawaz Modi revealed that their father-in-law Dr. Vijaypat Singhania has endorsed their divorce claim and stated that they should receive half of the total assets. Additionally, Nawaz Modi has leveled a new charge against Gautam Singhania.
On Thursday, in a conversation with India Today, Nawaz Modi mentioned that Dr. Vijaypat Singhania believes they should have half of the total assets. However, Nawaj Modi now insists on only wanting a 25% share for themselves. The remaining 25% would be sought for their daughter Niharika, and a quarter for their other daughter Nisa. Making a serious accusation, Nawaj Modi claimed that the company funds are being misused for Singhania's personal benefit.
Announced Separation in November
Gautam Singhania and Nawaz Modi's divorce became public knowledge in January, but Nawaz Modi had asked for 75% of the estimated $1.4 billion total assets post-separation, heightening the dispute. It is worth noting that Gautam Singhania and Nawaz Modi had made their separation public last November.
Multiple Serious Charges by Nawaz Modi
The controversy surrounding the divorce escalated in January when Nawaz Modi levied several severe allegations against Singhania, including abuse. Raymond's chief refrained from commenting on the situation. Modi accused their spouse of physically assaulting them, kicking, and dragging. They also alleged that their daughter Niharika was punched by Singhania for 15 minutes.
How Wealthy is Gautam Singhania?
After 32 years of marriage, Singhania and Modi announced their separation. Reports suggest that Singhania's net worth is roughly 1.4 billion dollars, a significant portion of which comes from real estate holdings. They also own the JK House in South Mumbai, estimated at about 6000 crore rupees, a magnificent 30-story building.
