Why is MD of Raymond fighting with his 80-year-old father
Recently, in the ongoing family feud between Raymond group Chairman Gautam Hari Singhania and his father, former Chairman Emeritus Dr. Vijaypat Singhania, the latter has registered a complaint of theft and criminal trespass against his son with the Worli police. The Singhanias have been at war for about three years now, since the elder Singhania gifted his son control of Raymond group.
Quick recap: Here's how the father-son feud started
In 2015, Vijaypat handed over 37% of stake (worth over Rs. 1,000cr) in the billion-dollar textile empire to his son. In return, Vijaypat was supposed to receive a Rs. 7,100cr-apartment in the Singhania family's 36-storey JK House in Malabar Hill for just Rs. 600cr, under a 2007 agreement. However, Gautam refused to meet his end of the deal, keeping the company and the apartment.
Back to 2019, police had refused to file Vijaypat's complaint
According to a Mumbai Mirror report, Mr. Vijaypat had previously approached the police to report the theft of "invaluable and important" articles from his cabin at Mahindra Towers in Worli. However, the complaint was not registered, which is when he approached the Dadar Metropolitan Court.
Recently, Magistrate RM Karade ordered investigation into allegations
On April 30, Magistrate RM Karade ordered an investigation into the claims under Criminal Procedure Code (CrPC) Section 156 (3) and relevant sections of the Indian Penal Code (IPC) concerning criminal conspiracy and criminal breach of trust. Reportedly, personal files such as bank documents, income tax returns, checkbooks, property title deeds, and investment documents were stolen from an office at Ballard Estate.
'Complaint's investigation is very necessary through the police machinery'
"It can be seen that the allegation of complaint is well supported by the documents and the offenses are cognizable and non-bailable. In the facts of the case, it's my considered view that complaint's investigation is very necessary through the police machinery," the order reads.
Here's what all Vijaypat claims was stolen
Mr. Vijaypat claims his Padma Bhushan Certificate and Gold Medal, issued by President of India, Gold Medal of World Records Aviation, World Record Certificate for highest flight in a hot air balloon, a Battle Axe presented by the Chief of Indian Air Force, photographs and paintings, are also among the stolen items. The articles are "invaluable and important for his prestige and honor."
Raymond group spokesperson says allegations are 'baseless and malicious'
However, Gautam dismissed the allegations as "baseless and malicious," the Mirror reports. "I feel extremely pained that at his age, he is involved in denunciations just to gain media mileage and cheap publicity through petty charges, which is very saddening," a company spokesperson was quoted as saying. Reportedly, Jitendra Agarwal, Ishwar Das Agarwal, Sanjiv Sarin, KA Narayan, and SL Pokharna also stand accused.
Over last 3 years, the family feud has escalated
After 2015's apartment fiasco, the family feud has only gotten messier. Vijaypat was sacked as Raymond's Chairman Emeritus over alleged misbehavior. He then shared his regret over giving Raymond to Gautam and even tried taking it back, under a 2007 law. Meanwhile, Gautam maintained he had no ill-will against his father and was just doing business. He even said he's "open to settle."
