Former Raymond Chief Vijaypath Singhania advised all parents to love and care for their children but not “blindly”. As of now, he is pitted against his son Gautam Singhania-the chairman of Raymonds over the property dispute. Known for building Raymond brand brick by brick, Singhania handed over shares of Rs 1000 crore to Gautam in 2015.The 78-year-old Singhania, speaking to NDTV said he never thought he would have to knock the doors of the court to settle the family dispute. ” I gave everything to my son and now I don’t even have a house,” stated disgruntled Singhania. The father and son are pitted in the court of law over JK House located in Malabar Hill, Mumbai. It is a family owned 36-storey property. As per senior Singhania, Gautam has kept the house for himself.The 78-year-old alleged that Gautam used his tenancy that he had surrendered voluntarily to get extra floors and he had friendly relations with the municipality which allowed no action to be taken against him. As of now, Singhania is living in a rented apartment which costs Rs 7 lakh a month and Raymonds has refused to release funds for it.
“My son promised to me in writing but then stepped back because of his greed that took us to court,” added Singhania. The family matter was heard by Bombay Court last week that asked the two parties to unite and settle the matter outside the court.Gautam is ready for reconciliation, whereas his father feels that in the case of settlement vested interest must be kept out. Senior Singhania made it clear that he will not allow the family dispute to tarnish the credibility of Raymonds, adding,” Will uphold the brand always.”
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