New Delhi: Gautam Singhania, the billionaire chairman and managing director of Raymond Ltd, one of India’s leading textiles and apparel companies, has announced his separation from his wife Nawaz Modi Singhania. The couple, who had been married for 32 years and had two daughters, Niharika and Nisa, said they had decided to pursue different paths in life.
Singhania, 58, made the announcement on X, a social media platform, on Monday, a day before Diwali, the festival of lights. He said that this Diwali would not be the same as many in the past, as he reflected on the “unfortunate developments” in the recent past, which he attributed to “unsubstantiated rumor mongering and gossip” by “not so well wishers”.
He said that he and Nawaz, 53, had been together as a couple, growing up as parents and always being a source of strength to each other. He said that they had traversed with commitment, resolve, and faith, as they welcomed the two most beautiful additions to their lives, their daughters.
He did not give any details about the reasons for the separation or the custody arrangements for their children. He said that he was parting ways with Nawaz, while they would continue to do what was best for their daughters. He requested the public to respect their personal decision and give them the space to settle all aspects of the relationship. He also sought the best wishes for the entire family during these times.
Singhania, who is the great-grandson of the founder of Raymond Group, married Nawaz, the daughter of solicitor Nadar Modi, in 1999, after eight years of courtship. Nawaz, who is a fitness expert and an artist, had been actively involved in the social and philanthropic activities of the group. She also launched her own brand of fitness studios, called Body Art, in 2004.
Singhania, who is known for his passion for fast cars, planes, and yachts, had earlier faced a bitter feud with his father, Vijaypat Singhania, over the ownership and control of the Raymond Group. The father-son dispute was resolved in 2018, after Gautam Singhania stepped down as the chairman of Raymond Apparel, a subsidiary of the group, and handed over the reins to his father.
Singhania, who has been leading the Raymond Group since 2000, has diversified the group into various sectors, such as real estate, engineering, FMCG, and prophylactics. He has also expanded the group’s presence in the global markets, especially in the textiles and apparel segments.
Just before announcing the separation, Singhania also shared a post on X about the growth of Raymond Realty, the real estate arm of the group. He said that the company had secured three new real estate projects in the Mumbai Metropolitan Region, with a combined revenue potential of over Rs 5,000 crore ($678 million). He said that the company had seen a strong growth trajectory in the last couple of projects and was confident of delivering the highest level of quality and finesse associated with the Raymond Group for the upcoming projects.
