Raymond Director Nawaz Modi Claims Ambanis Came to her Rescue after 'Assault' by Gautam Singhania: Report
Moneylife Digital Team 24 November 2023
Nawaz Modi, the director of Raymond Ltd and wife of the company chairman Gautam Singhania, claimed that the Ambanis had come to her rescue after Mr Singhania physically 'assaulted' her, says a report from India Today.
 
In an interview, Ms Modi says her estranged husband, Mr Singhania, had 'assaulted' her in September and then afterwards had tried to stop the cops from entering the house. "But the Ambanis made sure they (the cops) came," she told the portal.
 
Ms Modi told India Today that Mr Singhania 'assaulted' her and their minor daughter, Niharika, on the morning of 10 September 2023 after his birthday party at their residence in Mumbai. Taking refuge in a room, she and her daughter tried to seek help, but it was Nita Ambani and Anant Ambani who came to their rescue and ensured police action.
 
"Gautam tried to stop the cops from coming, from entering JK House, and he tried not to be smoked out and be brought down and cornered thanks to the Ambanis' instructions, the cops overruled everything Gautam tried. He was then truly cornered. He didn't want the NCs (non-cognisable offence report) to be written. The Ambanis made sure that they were written," Ms Modi was quoted in the report.
 
Meanwhile, Mr Singhania refused to comment on the allegations raised by Ms Modi. He told India Today, "In the interest of my two beautiful daughters, I would like to maintain my family's dignity and I will refrain from offering any comment. Please respect my privacy."
 
Earlier this month, Mr Singhania issued a statement to announce his separation from his wife, Nawaz Modi Singhania. Ms Modi Singhania is a director in at least 10 of the private and publicly-listed companies of the Singhania family, including its flagship Raymond. 
 
As part of the divorce settlement, Ms Modi demanded 75% of Mr Singhania's estimated US$1.4bn (billion) net worth, the report from India Today says.
 
As reported by Moneylife, in India, debilitating family fights over the distribution of wealth are common. "Family-run companies also tend to hide health issues involving their executive leadership, particularly amid succession battles. Especially worrying is a recent incident where the chairman of a high-profile company attacked his board director wife, causing her to be hospitalised. While no complaint has been filed, this chairman is already involved in a nasty war with his father and a new area of conflict should concern investors, especially since corporate finances have just perked up and the stock is flying." (Read: Family Feuds: Greed, Ego and Value Destruction for Minority Investors)
Comments
suketu
3 months ago
The people who convinced Gautam to crate enemity with his father and wife are the ones who want to finish him.No Sympathies for Gautam Singhania ...
sagarm1974
3 months ago
Extremely sad state of affairs & very disturbing personally. When you are blessed & fortunate to have been born with a gold & silver plate all through out your life & yet you treat your very own in such a disgusting & deplorable manner, Mr. Gautam Singhania - what have you done, what is wrong with you. Shame on you. Your family runs one of the top most schools in the country of which I am too a alumni. Your family has done so much for society & country, always done good. You have single handedly destroyed the name, brand & reputation.
Very proud of my school, always will be indebted & grateful to Singhania family for their services. They all are such fine lovely people. Pray, wish & hope still better sense prevails in you, say sorry & make up, its never too late.All can be forgiven & may be forgotten.
ashanimoolraj
3 months ago
"Raymond...A COMPLETE MAN".....how ?
After such a nasty spat and incongruous public behaviour how can one align with the brand image...I have to think twice before I purchase a Raymond... atleast till Gautam Singhania is at helm....
iaminprabhu
3 months ago
This person himself who mistreated his OWN FATHER & WIFE should be thrown out of all Comoany BOARDS, on ethical mirsl misbehavior grounds !
hrdpkhanna
3 months ago
Ever since he threw his father out of house I boycotted all Raymond products and stopped buying Raymond clothes
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