Ex Raymond MD, once one of India's richest men, is now struggling to survive. Know why

Ex Raymond MD, Vijaypat Singhania who was one of India's richest men is now struggling to make ends meet. Courtesy: his son, Gautam

Vijaypat Singhania, Chairman emeritus of Raymond group have alleged that his son has reduced him to “hand-to-mouth” situation. Touted to be one of the richest men in the country, Vijapat is now residing in a rented apartment in South Mumbai. The business tycoon has claimed that he is going through a financial crisis.

The development comes days after Vijaypat Singhania filed a petition in the Bombay High Court saying that he was not been given the possession of a duplex flat in JK House on Malabar Hill despite repeated reminders to the owner, Raymond Ltd. Four duplexes including the house located at the 14-storey of the building were handed over to Raymond Ltd when the company went for a redevelopment.

Dr Singhania, his son Gautam, Veenadevi, widow of his brother Ajaypat Singhania; and her sons Anant and Akshaypat were reportedly entitled to receive a sum of Rs 9,000 per sq ft as per the deal. Veenadevi and her son Anant have already filed a joint petition in the court claiming the due amount.

Read More: Video: School principal mercilessly beat students for complaining about heat in the classroom

Vijaypath’s lawyer. Senior Advocate Dinya Madon has alleged that his client had given away everything to his son Gautam who has now deprived his father of “everything”. He further went on to claim that Gautam had taken away all the perks including the driver and the car. He has also sought Rs 7 Lakh from the company and has claimed that the company is supposed to provide an alternate accommodation for him.

“They are trying to squeeze him (Dr Singhania) now. All his perks – like a car and a driver — have been taken away,” Singhania’s lawyer said adding that his client had given up shares around Rs 1000 crore in his son’s name and is now struggling to make ends meet.

Also Read: At least 100 Indian Army jawans die in suicide and fragging incidents every year

For interesting news videos from InUth, follow us on Youtube.com/InUthdotcom