Raymond’s Chairman and Managing Director (CMD) Gautam Singhania’s separation from his estranged wife, Nawaz Modi, has triggered concerns among shareholders as the dispute takes a contentious turn. While Singhania has chosen not to comment, Modi has made sensational claims, alleging physical assault and revealing an incident where she was allegedly forced to climb Tirupati steps without food and water.
Settlement involving 75% of Singhania’s $1.4 billion net worth:
Modi proposed a settlement involving 75% of Singhania’s $1.4 billion net worth, which he reportedly declined. The ongoing family feud has led to a significant decline in Raymond’s share price, prompting Institutional Investor Advisory Services (IiAS) to call for an independent investigation.
Production of negative impact:
Market analysts predict potential negative impacts on shareholder confidence and closely watch the proceedings, emphasizing the importance of an amicable settlement for the company’s valuation. Former chairman emeritus Vijaypat Singhania acknowledges the potential impact, stating it depends on how various stakeholders perceive the situation.