The original Raymond man is now living in penury. This is what the once flamboyant chairman of Raymond claims.
Reduced to a life of hand to mouth financial struggle with his own son Gautam, the present chairman is not providing for him.
Vijaypat Singhania, the ‘Raymond’ man, has filed a petition in the Bombay High Court alleging that he was not given the possession of a duplex in the upscale 36-storey JK House on Malabar Hill. According to a report in Mumbai Mirror, he was not given the possession despite repeated reminders to the owner of JK House — Raymond.
Singhania handed over Raymond to his son Gautam, who he now says treats the redeveloped JK House as his “personal fiefdom.”
Four duplexes in JK House were handed over to a Raymond subsidiary, Pashmina Holdings, before the company decided to redevelop it in 2007.
According to the deal, Vijaypat and Gautam, Veenadevi, the widowed wife of Vijaypat’s brother Ajaypat Singhania, and her sons Anant and Akshaypat would get 5,185 sq ft each in the redeveloped building on a payment of Rs 9,000 per sq ft.
While Veenadevi and Anant have filed a joint petition, Akshaypat has filed a separate petition in the Bombay High Court, laying claims to their share. Vijaypat has accused son Gautam of “high-handed conduct” and said two Raymond employees, Jitender Agarwal and RK Ganeriwala, who handled documents for him have gone missing with no access to documents. His complaint hinted that Gautam orchestrated all this.
According to senior advocate Dinyar Madon, who is representing Vijaypat along with law firm Bachubhai Munim and Co, Gautam is squeezing him “out of everything.” “All his perks — like a car and a driver — have been taken away,” he said.
It is sad that a man, who dressed Indian males to become ‘The Complete Man’ for over two decades, has been reduced to such a tragic state. According to Mumbai Mirror, representing Raymond, senior advocate Janak Dwarkadas, along with senior advocate Virag Tulzapurkar and law firm Wadia Ghandy & Co, submitted that Gautam had not been made a party in the petition and that it was restricted to the two companies involved -- Pashmina Holdings and Raymond.
Madon asked for an injunction against the company from creating any rights in the duplex on the 27th and 28th floor of the redeveloped JK House. He also sought Rs 7 lakh per month from the company, saying that Singhania was entitled to an alternate accommodation at the company’s cost.
While Dwarkadas agreed to an injunction on creating third-party rights in the duplex, he objected to the demand for rent by Singhania. He sought time to file a reply, saying a resolution to pay Singhania rent and handover the duplex was rejected by shareholders at the company’s annual general meeting held in June this year.
Madon alleged that Gautam seemed to be occupying all the four duplexes (fourth duplex is Gautam's) and that the company had created a different route, which was that he was the CMD therefore he could do so.
Justice Girish Kulkarni, after hearing both the parties, asked them to try and settle the case among themselves. “This kind of litigation should not have come to the court at all. It should have been settled,” the court observed. Counsels on both the sides agreed to initiate the talks.
The court, however, also passed the injunction order with respect to the duplex claimed by Singhania and asked Raymond to file its reply byAugust 18, while scheduling the next hearing for August 22.