28-04-2025
Meet Man, Once Wealthier Than Mukesh Ambani And Gautam Adani Now Lives In Rented Apartment Due To...
photoDetails english 2892459 Updated:Apr 28, 2025, 04:36 PM IST Once Richer Than Ambani and Adani!
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There was a time when Vijaypat Singhania, the former chairman of Raymond Group, was counted among India's wealthiest, even ahead of Mukesh Ambani and Gautam Adani. However, life took an unexpected turn, and today, he lives in a modest rented apartment, far from the luxury he once enjoyed. The Man Who Built Raymond
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Born on October 4, 1938, Vijaypat Singhania played a major role in transforming Raymond from a small textile mill into a global fashion powerhouse. He led the group from 1980 to 2015, expanding its reach across international markets and making it a household name in India. The Turning Point in His Life
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In 2015, Vijaypat decided to step down and hand over the leadership of Raymond Group to his son, Gautam Singhania. As part of the transition, he also generously gifted his entire 37% stake in the company to Gautam — a decision that would later have painful consequences for him. A Father-Son Relationship Gone Sour
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What started as a smooth succession plan soon turned into a bitter family feud. By 2017, Vijaypat accused Raymond Ltd of failing to hand over a promised luxurious duplex apartment in Mumbai's iconic JK House. The trust between father and son began to crumble, leading to public disputes. Fall From Grace
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In a further blow, Vijaypat Singhania was stripped of his title as chairman emeritus of Raymond in 2018. Once the face of the brand, he found himself sidelined and isolated, watching from a distance as the empire he helped build continued to flourish without him. A Life of Achievements Beyond Business
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Apart from his business successes, Vijaypat has an adventurous spirit. He set world records in aviation, including a remarkable microlight flight, earning the Tenzing Norgay National Adventure Award in 2001. In 2006, he was honored with the Padma Bhushan, India's third-highest civilian award. From Author to Aviator
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Vijaypat Singhania has also made his mark as an author, penning books about his life experiences, including his love for flying. His achievements were further recognized when he received an honorary Ph.D. from the London Institute of Technology & Research. Raymond Group Today
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Despite the family feud, Raymond Group continues to thrive under Gautam Singhania's leadership. With interests across textiles, real estate, and engineering, Raymond remains a strong player in both domestic and global markets, currently valued at around Rs 9,478 crore.
