Raymond's founder gave his son his 37 percent stake and says he was then pushed out of the family tower

Vijaypat Singhania built Raymond into India's best-known suiting brand. In 2015 he handed his 37 percent controlling stake to his son Gautam Singhania. Vijaypat later said Gautam pushed him out of the family's JK House tower in Mumbai and left him without means. He said a 2007 settlement promised him an apartment in the 36-storey building at a price far below market value, and he sued^†. Raymond's board removed his chairman emeritus title, and he lost his board seat in January 2018 under a Companies Act rule on missed meetings. In November 2023 Gautam announced his separation from his wife of 32 years, Nawaz Modi, who reportedly sought a large share of his wealth^†. In March 2024 Gautam posted a photo of himself with his father suggesting reconciliation; Vijaypat said it was taken under false pretenses and denied any reconciliation. Vijaypat died in March 2026, aged 87^†.