Probe assault charges against Gautam Singhania, proxy advisory firm requests Raymond's independent directors
allegations of assault levelled against Raymond Ltd managing director Gautam Singhania by his estranged wife, an Indian proxy advisory firm has requested the company's independent directors to conduct a probe, a report said on November 28. The appeal has been made by Institutional Investor Advisory Services (IIAS), news agency Reuters reported, adding that the proxy firm has urged the independent directors to communicate with investors and other stakeholders, assuage their concerns and "articulate a course of action they have taken following these public allegations".
"In the interest of the company and safeguard the interests of a larger set of stakeholders, we urge you to undertake an independent investigation into the allegations of both, assault and CEO excesses," a letter issued by IIAS was quoted as saying. Also Read: Why Singhania’s personal woes shouldn't be allowed to destroy shareholder wealth According to media reports, Nawaz Modi Singhania, the wife of Gautam Singhania and a board member - alleged that she and her daughter were physically assaulted by Singhania in September 2023.
Singhania, meanwhile, has assured his employees and board members of the "smooth functioning" of the company amid the public spat between him and his estranged wife Nawaz Modi. In an internal communication to his employees last week, Singhania wrote, “As the media is ripe with news about matters pertaining to my personal life, I am writing to you to say that I have chosen not to comment on the same as maintaining the dignity of my family is paramount to me.
However, I remain resolute as Chairman & Managing Director and am fully committed towards the smooth functioning of the company and its business. Even in these difficult times for
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