Produced by: Saurabh Sharma Designed by: Manoj Kumar
Vijaypat Singhania, the father of Raymond CMD Gautam Singhania, said he hadn't hoped that he would have to see separation of a couple in his own family. "Difficult to describe what one goes through when you see your own family going through this kind of stress," he said in his first interview after Gautam separated from his wife Nawaz Modi.
Vijaypat told Business Today he would be open to meeting Gautam for any settlement with Nawaz, but said his son won't listen to him. "My first answer would be 'yes', I'd be open to meeting him. My second answer is - meeting him has no meaning because he won't listen to me," he said when asked whether he would be open to speaking to his son for an amicable settlement.
When asked whether current developments will sully the image of Raymond, the former textile magnate said the company has a very large number of mature and logical shareholders. 'If they see something bad, they react quickly. So, Raymond's name will ultimately be dependent on shareholders, bankers, buyers, and sellers."
The 85-year-old businessman said that Nawaz, who has reportedly sought 75% of Gautam's $1.4-billion wealth, can get 50% under the Hindu Marriage Act. He said Gautam would never give her 75%. "Gautam is never going to give in because his motto is - buy everybody. That's what he did with me."
To a question on who will control Raymond if a succession battle erupts, Vijaypat said that person will control the firm whom Gautam wants. "Nobody else will get it. But if he loses this battle, which is most unlikely, the company will go to somebody else.'"
The former industrialist said Gautam threw him out of his own house. "He is living alone in a 36th-floor building. There is no care, or consideration for his parents, for his nephews who were living there, threw everybody out. Because he can buy everybody."
Responding to a question that family friends are trying to help resolve the family crisis, Vijaypat said Gautam is not the kind "who will mediate or get mediated". "Gautam does not listen to anybody. He'll do exactly what he wants."
Vijaypat, who transferred his stake in Raymond to Gautam, regrets his decision as his son moved him out of his family home. Learning a lesson from this, the industrialist said parents should think very carefully before they give away everything to their children. 'Give it after you're gone. Don't give it in your lifetime.'
Vijaypat revealed that Gautam had agreed to give him some parts of the company, but he backed out. He said he gave Gautam everything. "By mistake, I was left with some money on which I'm surviving today. Otherwise, I would have been on the road. He'd be happy to see me on the road."
Vijaypat, who is not on talking terms with Gautam, said he had not spoken to the Raymond boss in a long time. 'He was here yesterday. He didn't even get up and turn around to see me. He's become a very arrogant person.' The industrialist said if he can throw his wife out like this, throw his father out like this. 'I don't know what he is.'