look news india
In the last meeting of shareholders of the company held on March 31, three companies included in Raymond Group, JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL) and Smart Advisory & Finserv, have expelled Nawaz Modi Singhania from their company board. . , The move comes amid a dispute over the divorce settlement between Modi-Singhania and her estranged husband, Raymond Group chief Gautam Singhania, after the divorce was announced in November 2023. Listed company Raymond has not yet filed a motion for eviction but action will be taken soon.
Nawaz Modi Singhania was appointed to JKI in June 2015, RCCL in December 2020 and Smart Advisory in October 2017. Regarding removal from the boards of three companies, Nawaz Modi-Singhania said, 'Ever since I have exposed the misdeeds of Singhania, I am being harassed. First the attack and now the expulsion.
A spokesperson for JKI and Smart Advisory said their shareholders have written letters to the companies saying they have lost confidence in Nawaz Modi Singhania as a director. The shareholders held a meeting and requested to remove him from this post. He has been removed from the post of director after legal process.