Raymond Group Chairman Gautam Singhania announced his separation from his wife Nawaz Modi Singhania in November 2023 after 32 years of marriage. Furthermore, in January 2024, settlement talks between the former couple collapsed when Nawaz Modi demanded 75 percent Gautam Singhania’s estimated net worth after their divorce is $1.4 billion.
Nawaz Modi says she was removed for invalid reasons
Recently, Nawaz Modi, who was previously a board member of JK Investors, Smart Advisory-Finserve and Raymond Consumer Care Ltd (RCCL), revealed in an interview with India Today that Gautam Singhania wanted her removed from the group’s board. She further asked whether the major shareholder had lost trust in her because she had done her job properly. Nawaz Modi shared that she was removed from the board when she confronted him and said:
“These are invalid reasons for my removal. Has the major shareholder advocate lost his trust in me because I do my job and my duty? He (Gautam) lost his trust in me because I challenged him. I will explain these points in detail. That’s how he works. Even all general meetings are always held in Ratnagiri so neither people nor shareholders can reach there. These are his “bhindi bazaar” tactics, as even his father calls it: arming people with force to get them out.”
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Nawaz Modi demands 25 percent of the company shares for each of her daughters
Nawaz Modi further mentioned that her father-in-law, Dr. Vijaypat Singhania, supported her demand and wanted that she should get 50 percent of his assets and the remaining 50 percent should be given to Gautam Singhania. However, she demanded an additional 25 percent each for her daughters Niharika and Nysa. In her words:
“On paper it’s $1.4 billion. My father-in-law, Dr. Vijaypat Singhania, says I should get 50 percent of his wealth while Gautam (Singhani) should keep the other 50 percent. But I only want 25 percent each for my daughter Niharika and Nysa.”
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While talking about her divorce from Gautam Singhania, Nawaz Modi said that things turned bad between the two when she turned ‘whistleblower’ and spoke out about her estranged husband’s mismanagement of the company. Furthermore, she alleged that Gautam Singhania attacked her and her minor daughter on his birthday last year.
Nawaz Modi claims Gautam Singhania attacked her and her minor daughter
In the same report, she further stated that the Raymond boss kicked, slapped and beat her and her daughter for several minutes. Nawaz Modi had filed a police complaint and was admitted to a hospital due to her broken back. In her words:
“The incident occurred after I started calling him out on his misdeeds. I started calling him in August 2023 and the incident happened in September on his birthday. He punched, kicked and punched our minor daughter and me continuously for several minutes. I have filed a police report. I was then hospitalized for several days and came out with a broken back. I contacted the police directly to get a further statement.”
What do you think about Nawaz Modi’s shocking revelations?
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