1. Gautam Singhania speaks up after father’s accusations; says, people must change with times

Gautam Singhania speaks up after father’s accusations; says, people must change with times

Raymond Ltd Chairman Gautam Hari Singhania had some curt words to say after his father Vijaypat Singhania blamed him for going back on his agreement and squeezing the father out of the company.

By: | Updated: August 11, 2017 1:21 PM
Vijaypat Singhania with son Gautam Singhania.

Gautam Hari Singhania, Chairman and Managing Director of Raymond Ltd, had some curt words to say after his father Vijaypat Singhania blamed him for going back on his agreement and squeezing the father out of the company. In an interview with news channel ET Now, Gautam Singhania said that people who do not change fall by the wayside, albeit without directly referring to the family dispute that is being battled out in a court of law. “Even a coconut tree swings to change. If you are rigid like a tree, you fall and break,” Gautam Singhania said in the interview to ET Now, adding, “People who are not going to change they are going to fall by the wayside.”

Earlier this week, news reports broke that Vijaypat Singhania, once among the country’s richest men, is now fighting for a house to live in which was promised to him earlier, as he claimed that the person responsible for his condition is none other than his son Gautam Singhania, to whom he had handed over the control of Raymond. Vijaypat Singhania is known for giving the nation its early taste of locally-made fine dressing through Raymond — a brand he built and nurtured for over 20 years. In a recently filed petition in Bombay High Court seeking possession of a duplex in the 36-storey JK House on Malabar Hill, Vijaypat Singhania had accused Raymond Ltd of not handing over the possession of the house to him despite repeated reminders.

Vijaypat Singhania further said that he now resides in a rented row house in south Mumbai. Through his lawyers, the original Raymond man went on to claim that his son is now squeezing him out and is driving him out of everything. Vijaypat Singhania’s lawyer senior advocate Dinyar Madon told the court that the retired business tycoon is now struggling financially. “All his perks – like a car and a driver — have been taken away,” Dinyar Madon said in the court, according to a report in the Mumbai Mirror. Vijaypat Singhania also claimed that Gautam Singhania is running Raymond like a personal fiefdom.

Also read: ‘Raymond’ man Vijaypat Singhania blames son Gautam for squeezing him out

However, Gautam Singhania sought to point out how he is transforming the company to make it future ready. “The whole game has changed and we really are positioning ourselves not for the next two years but for next 20 years so that is what you are seeing,” Gautam Singhania said, pointing out to the changes he has made in the way the company is governed. “I think there has been lot of management change, there has been advisory board of a high quality that has been put in place, high levels of corporate governance,” he added.

Meanwhile, separately, Gautam Singhania also said that he has two different roles as a son and as the Chairman of Raymond. He said that he has been talking to his father and relatives in an attempt to resolve the dispute for over two years now, and that he is committed to his responsibilities as a son, hindi newspaper Dainik Bhaskar reported.

  1. S
    Suraj
    Aug 18, 2017 at 3:00 am
    Until few day I use to think that Raymond clothing makes a man a complete man but Gautam Singhania has proved me that it makes a complete cheat man.I beg everyone please please stop buying any Raymond products, And I request all the public to sell the share which they hold and let Raymond share price should come down .Please teach Gautam Singhania. a lesson this time to teach ungrateful son how to respect his father .People who are supporting Gautam Singhania and still buying Raymond products all you guys who will one day become parents are setting a wrong example for your kids and for younger once hence I beg you stop buying any product of Raymond .Support Vijay path singhania
    Reply
    1. K
      Krishna
      Aug 14, 2017 at 12:27 pm
      Do not buy Raymond , make it bankrupt and one day junior singhania will also be on the streets.
      Reply
      1. A
        anonymous
        Aug 13, 2017 at 12:15 am
        ashamed to have such sons in india. the seeds of the empire he is talking about was built by his own father with whom he is finding fault.......the dream life full of luxuries built by sacrifice and great hard work on whom he is sitting and dominating today.......sad very sad.......very very ungrateful son...... if father was/is so wrong would he have been able to built an empire?????? would the son have inherited such wealth???? saddened to hear such news.
        Reply
        1. A
          Ashwani
          Aug 12, 2017 at 4:42 pm
          Pathetic , disappointing . Reincarnation of Aurangzeb . Be ready to harvest whatever you are sowing . How one can comment about fathers gifted legacy ? Today Raymond's B is earning what kind of Name ??
          Reply
          1. V
            Vasdev Chandwani
            Aug 12, 2017 at 11:01 am
            The ungrateful son should be ashamed of his conduct and its legal justification. Is he himself living in a rented house like his father? Has he given up his lavish life style? No father in the world will speak against his son unless the latter ha crossed all levels of decency. Shame on such thankless offsprings!
            Reply
            1. G
              Gattu Rambhav
              Aug 12, 2017 at 6:48 am
              Gautammji, Take care of Vijaypath Ji. He is one of the GREAT Leaders. Today what Raymond is. " is mainly because of the culture , tradition and the values Raymond believe in ". I remember the days I met Vijaypath Ji along with Dr. Basu and Dhingra Madam in JK Management Training Centre about 26 years ago. In spite of various options available in the market for all good occasions if some one in indian market looks for " the very first name comes is Raymond " there is lot of respect for b s Ramond in Indian Market, this image was built in decades long time. All the best. Let this topic not be complicated. " Matru devo Bhava..... Pitru Devo Bhava ..::: Acharya devo Bhava..:::: a hi devo bhava......". Regards
              Reply
              1. P
                ps
                Aug 12, 2017 at 5:45 am
                All I can say is bahut kamina aadmi hai, Ek din iss ke beti bhi iss ko aisey hi laat maregi tab ja kar baap ko yaad karega aur samaj aye gaye time ke saath change kaise hotey hai
                Reply
                1. A
                  Akash
                  Aug 11, 2017 at 11:44 pm
                  Ye bana raha hai business ko progress karwane k naam pe,,people will be left behind ka kya matlab be?baap ne zindagi bhar company chalaayee,profitable banayee ,ab uske retire hone ka time aa gaya hai to tu kaunse bematlab k dialogue maar raha hai,company ka creator hai wo koi employee nahee lemonchoos.iskey chahre pe dikhta hai ki doston k saath aayashiyan karne k alaawa iska aur koi plan nahi hai.office mein bhi lemon hee choosta hoga...
                  Reply
                  1. A
                    Anonymous
                    Aug 11, 2017 at 11:20 pm
                    How does corporate governance work in India, how can a CEO of listed company have the business pay for Gautam to live in a 39 story building, fly company jet helicopter that he uses for pleasure trips with young ladies, pay for his racing, etc., etc.., there is obviously something desperately wrong within the Raymond structure board that a CEO can take monies from shareholders like this, as his farther said he uses Raymond as his personal fiefdom…, with stories like this, how much can the financial information from the company be trusted.., if not, why is the Indian government or BSE not investigating, listed companies used to enrich families to the detriment of shareholders sends out a bad signal to foreign Indian investors who want to invest in listed Indian companies...
                    Reply
                    1. A
                      Anonymous
                      Aug 11, 2017 at 11:05 pm
                      How does corporate governance work in India, how can a CEO of listed company have the business pay for Gautam to live in a 39 story building, fly company jet helicopter that he uses for pleasure trips with young ladies, pay for his racing, etc., etc.., there is obviously something desperately wrong within the Raymond structure board that a CEO can take monies from shareholders like this, as his farther said he uses Raymond as his personal fiefdom…, with stories like this, how much can the financial information from the company be trusted.., if not, why is the Indian government or BSE not investigating, listed companies used to enrich families to the detriment of shareholders sends out a bad signal to foreign Indian investors who want to invest in listed Indian companies….
                      Reply
                      1. J
                        Jugdiep Singh
                        Aug 11, 2017 at 9:19 pm
                        Gautam you are the biggest scumbug
                        Reply
                        1. P
                          Poonam
                          Aug 11, 2017 at 7:35 pm
                          What bull ... which company law says you have to make your father homeless in order to progress.Few months ago Gautam celebrated his birthday in Moksha spent Rs3crore plus by inviting his friends from Mumbai all were airlifted in his private plane,all of Moksha was booked by him the food was exotic,different cuisines with delicacies like caviar foi grass etc specially flown in,had got special cooks from five star hotels to do the cooking.It was his way of celebrating his 40th birthday.Did the company allow all this wastage??
                          Reply
                          1. P
                            Purushottam Kulkarni
                            Aug 11, 2017 at 7:24 pm
                            Gautam is a chook.had he discarged his sites as a son this world not have happened.
                            Reply
                            1. M
                              Manu
                              Aug 11, 2017 at 4:51 pm
                              Shame on u Gautam.. ur vision of 20 years with these useless corporate jargons like corporate governance will all fall by the 'wayside'......as a customer I hereby boycott Raymond as a b .... will never give my money in the hands of such a useless son who has brought his own father down to such level..... boycott Raymond
                              Reply
                              1. F
                                fazal
                                Aug 11, 2017 at 4:50 pm
                                Now the culture in India has become similar to western where bond between father and son is materialistic so is in Singhania family. Our culture is losing its shade day by day as we are getting away from our religion ethics which teaches the value of the parents how to behave with elders. Fazal Karim. B. E (Civil Engineer ) 16.47/11.8.2017/Patna /Bihar
                                Reply
                                1. A
                                  Addy
                                  Aug 11, 2017 at 4:35 pm
                                  Shame on Gautam for using such language for his father and treating him Scrap now who once built empire and handed over to his son.No words to explain but Gautam will get his his dues in the Court of God.Gautam should do utmost to make his Father Happy.
                                  Reply
                                  1. J
                                    Jayasankar
                                    Aug 11, 2017 at 2:36 pm
                                    Mr.Gautham one thing he should remember But for Vijaypat his father , he would not have come into this world. Without his father he would not have taken over the Company. First take care of your father well and do not allow him to die penniless. Same treatment will be meted out to you by your son or Daughters in future.
                                    Reply
                                    1. M
                                      Manu
                                      Aug 11, 2017 at 4:53 pm
                                      Couldn't agree more
                                      Reply
                                      1. A
                                        abhishek
                                        Aug 12, 2017 at 12:57 pm
                                        What Gautam has achieved on his own saving a lottery of birth in a business luminary family of Mr Vijaypat. Now this is such a height of shamelessness.
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