When a Billion-Dollar Family Empire Turns Into a Sibling Saga
Vijaypat Singhania, the 80‑year‑old textile maestro who grew a humble yarn shop into India’s most famous suit brand, thought he was securing his legacy by handing the reins of the Raymond Group to his son, Gautam, three years ago. Instead of a smooth handover, he’s now wrestling with a bitter fallout that feels more like a reality‑TV drama than a corporate strategy.
The Family Feud That Became a Public Affair
- Apartment Betrayal: Vijaypat alleges that Gautam tricked him out of a prime flat in Mumbai’s luxury JK House.
- Office Expulsion: He says Gautam, without the fanfare of a board vote, had him kicked out of the Raymond offices.
- One‑Time Titles Gone: The “Chairman Emeritus” crown that Vijaypat had proudly wore was stripped away.
- Personal Looting: Along with his Padma Bhushan, Vijaypat claims his belongings went missing.
- Zero Communication: They haven’t spoken in two years.
Luxury Flat, Not So Luxury Deal
Back in 2015, Vijaypat signed over a 37‑percent controlling stake in Raymond. In return, he was promised a modestly priced apartment in the 36‑storey JK House—value of the unit? Tens of millions of dollars. Gautam quietly pushed the board to keep the flat on the company’s property list. The fallout turned from a simple deal to a full‑blown family war.
The “Height of Stupidity” and Legal Controversy
Vijaypat branded handing over Raymond “the height of stupidity,” and plans to invoke an Indian court ruling that lets parents reclaim gifted property if the child cannot meet basic needs. “Don’t hand over your savings so early,” he advises, all while reminiscing about his 2005 hot‑air‑balloon world record.
Gautam’s Side of the Story
Gautam maintains he was only doing his duty.
- “I am the victim,” he protests.
- “The board has used my position to strip company assets,” he says.
- “My role as a son differs from my role as a Chairman,” he reminds readers.
Raymond’s Business Health Checks Out
- Profit surged 50 % in Q2 2018.
- Opened a massive facility in Ethiopia.
- Now ships to 55+ nations.
Why Family Feuds Grow in India
India sits third globally for family‑owned conglomerates. The current generation’s impatience, lack of clear succession plans, and sometimes cruel corporate practices lead to high‑profile disputes.
- Ambani’s Reluctant Argue: Mukesh vs. Anil over Reliance.
- Chadha’s Fatal Clash: Sibling shootout in 2012.
- Singh’s Scrap: Battle over pharma empire.
Insights From Experts
Pranav Sayta of Ernst & Young warns that the business milieu is more complex, with higher stakes and impatient millennials. He calls for better separation of ownership and management, and a robust succession plan—otherwise, “family feuds will multiply louder and faster.”
Gautam’s Management Perspective
“When I obtained the shareholding control, I could finally make decisions that accelerated growth,” Gautam says. He argues that the new management style is the difference averted the downfall of the old monolithic approach.
In the glittering halls of corporate India, nothing has been softer than the cracks these family battles carve. The Raymond saga serves as both a cautionary tale and a reminder that wealth, like a family heirloom, can become a double‑edged sword—unless handled with clear rules, a respectful handover, and, perhaps, a dash of humor.
