Veteran tycoon Vijaypat Singhania regret handing over business to son Gautam Singhania, speaks on Nawaz Modi: Report

livemint.com:

Raymond's founder, Vijaypat Singhania, in an interview to Business Today, expressed his regrets about handing over his business entirely to the current Managing director, Gautam Singhania. Vijaypat Singhania handed over the authority of his company to his son, Gautam Singhania in 2015. Soon after, Gautam Singhania allegedly drove Vijayapat Singhania out of his JK House building in South Mumbai in 2017, according to various reports.

Billionaire industrialist Gautam Singhania's estranged wife, Nawaz Modi Singhania, also recently alleged him of physical abuse. The estranged wife of billionaire industrialist Gautam Singhania, 53, has reportedly demanded 75% of his alleged $1.4 billion net worth for herself and her two daughters - Niharika and Nisa — as part of a family settlement after the couple's divorce, according to the Economic Times. Vijaypat Singhania, in an exclusive interview with Business Today, said parents should "think very carefully before giving their children everything" before they are gone and that he made a 'stupid' mistake by giving everything to his son.

Vijaypat Singhania said that Gautam agreed to give some parts of the company, but then backed out. "I have no business." He had agreed to give me some parts of the company, but of course, he backed out. So I have nothing else.

I gave him everything. By mistake, I was left with some money which I'm surviving today. Otherwise, I would have been on the road," as quoted by Business Today.

The former textile tycoon, Vijaypat Singania, said Gautam would be glad to see him on the road. "I'm sure of that. If he can throw his wife out like this, threw his father out like this.