Gautam Singhania, the Chairman and Managing Director of Raymond Ltd., on Monday made an announcement regarding his decision to separate from his wife, Nawaz Modi Singhania, after 32 years of marriage.
This announcement comes after Nawaz Modi Singhania, the wife of Gautam Singhania, Chairman & MD of Raymond, was allegedly stopped from attending her husband’s Diwali party in Thane, last week.
Taking to social media platform X (formerly Twitter), Singhania said, "This Diwali is not going to be the same as many in the past. 32 years of being together as a couple, growing as parents and always being a source and strength to each other, we traversed with commitment, resolve, faith as along came the two most beautiful additions of our lives. As I reflect over the unfortunate developments in the recent past, there has been a lot of unsubstantiuated rumour mongering, and gossip surrounding our lives fanned by "not so well wishers."
"It is my belief that Nawaz and I will pursue different paths from here on," he added.
"I am parting ways with her while we will continue to do what is best for our two precious diamonds Niharika and Nisa."
"Please respect this personal decision and kindle give us the space to settle all aspects of this relationship. Seeking your best wishes for the entire family during thease times," he said.
Nawaz Modi Singhania stopped from Husband's Diwali Party
Nawaz Modi Singhania was allegedly stopped from attending her husband’s Diwali party in Thane last week. She personally recorded a video of the incident, which was exclusvely accessed by The Free Press Journal. In the video, Nawaz claimed she was initially invited to the party but was later denied entry by a man named Chandrakant, who allegedly used local police and other security staff to obstruct her entry into the gated premises of JK Gram, Singhania's property in Thane.
Minutes before announcing the separation, Gautam Singhania posted on X, emphasizing his group's real estate arm's ongoing efforts to broaden its footprint across Mumbai.
"We have secured 3 new real estate projects in the (Mumbai Metropolitan) Region, with a combined revenue potential of over Rs 5,000 crore (USD 678 million). Our realty business has seen a strong growth trajectory over the last couple of projects and we are confident of delivering on the highest level of quality and finesse associated with Raymond Group for the upcoming projects," he said.
A few years ago, Singhania was in news over a feud with his father, Vijaypat. Vijaypat Singhania is the founder of the Raymond Group, a widely recognized name in India known for its apparel brands and textiles. His son, Gautam, expanded the group into various sectors as part of an effort to diversify and increase revenue.
The shares on Raymond on Monday at 1:14 pm IST were trading at Rs 1,870.05, down by 1.64 percent.