look news india
Time is powerful. No one is ahead of time. This is the reason why the fortunes of those who were once counted among the richest industrialists of the country have taken such a turn that now they are forced to live in rented houses. His life was linked to the textile industry and he earned a lot of fame and wealth in his life. But due to family discord and personal loss, today they live on rent.
we are talking Raymond’s command Of Vijaypat Singhania. You might know Gautam Singhania, Chairman and MD of Raymond Group. But very few people know that his father Vijaypat Singhania had contributed significantly to the growth of the company. When Vijaypat Singhania was at the peak of his career, he was richer than industrialists like Gautam Adani, Mukesh Ambani, Ratan Tata and Anil Ambani. After the death of his uncle GK Singhania, he took over the Raymond business and made it a global brand in the textile and fashion industry.
Decision to divide the business between two sons
Vijaypat faced challenges from cousins early in his career. Tried to gain control over Raymond after his uncle’s death. Vijaypat Singhania was the first chairman of Raymond. Under his leadership the company progressed significantly and became the largest company in the region. Vijaypat Singhania was a very successful businessman and had a lot of money. But due to discord in the family, there was turmoil in his life. He decided to divide the business between his two sons. It was from here that a big change came in his life.
Gautam throws his father Vijaypath out of the house.
Vijaypath’s eldest son Madhupati Singhania moved to Singapore and stepped away from business. After this Gautam Singhania took charge of Raymond Company. Gradually, relations between Vijaypath and Gautam started becoming strained. In 2015, he handed over the reins of Raymond to Gautam Singhania and transferred all his shares to his son. At that time its price was Rs 1000 crore. However, after this decision there was a big dispute between father and son. Then Gautam threw his father Vijaypath out of the house. Then Vijaypat Singhania had to face financial and personal problems. In an interview, Vijaypat told that he is facing a lot of difficulties in earning his livelihood. Earlier they were very rich and lived very comfortably but now it is not so. Vijaypat Singhania built JK House, a luxurious house in a posh area of Mumbai but his son threw him out and forced him to live in a rented house. Vijaypat Singhania himself admitted that he made a big mistake by handing over all the property and business to his son. The owner of a company worth Rs 12,000 crore is now forced to live on rent. The son took the car and driver Sudha.
Vijaypat Singhania was not only successful in business, but he also loved flying planes. Inspired by JRD Tata, he learned to fly planes. He also had a lot of interest in this field. He was considered the successor to Narayana Murthy, the Chairman of the Governing Council of IIM Ahmedabad until 2012. Singhania has received many honors for his work. He has been awarded the Padma Bhushan, the country’s third highest civilian honour.