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Nawaz Modi accuses Gautam Singhania: Uses Raymond as ‘his personal fiefdom', 'Bhindi bazaar' tactics
Nawaz Modi said, “They are (using) invalid grounds for my removal. Has the major shareholder promotor lost his confidence in me for doing my job?"
Raymond Group Chairman and Managing Director Gautam Singhania's estranged wife Nawaz Modi claimed that there is an ongoing bid to remove her from the company's board months after divorce settlement talks between the couple collapsed.
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In an interview with India Today TV, Nawaz Modi said, “They are (using) invalid grounds for my removal. Has the major shareholder promotor lost his confidence in me for doing my job, doing my duty? He (Gautam Singhania) has lost his confidence in me because I am calling him out. I am going to be detailing these points.”
She added, “This is his way of operating. Even all the AGMs are always held in Ratnagiri, so people or shareholders are not able to get there. These are his 'Bhindi bazaar' tactics, as even his father calls it, of strong-arming people in a bid to get them out.”
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On her divorce settlement, Nawaz Modi told the outlet, “It is $1.4 billion on paper. My father-in-law, Dr Vijaypat Singhania, says I should be getting 50% of his wealth while Gautam (Singhania) should keep the other 50%. But I want 25% each for my daughter Niharika and Nysa.”
Reflecting on her estrangement with Gautam Singhania, she said it all started when she began to call out his 'misdeeds' and 'mismanagement' in running the company.
"He uses the company as his personal fiefdom. In fact, our personal problems arose just because I was already aware of too many of his misdeeds by then, and I was calling them out," she claimed.
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She also alleged that Gautam Singhania assaulted her and one of her minor daughters on his birthday last year.
"The incident happened after I started calling him out for his misdeeds. I started calling him out in August 2023 and the incident happened in September on his birthday," she said, adding, “He slapped, kicked, punched our minor daughter and me for several minutes non-stop. I filed a police complaint. Subsequently, I was hospitalised for several days and came out with a broken back. I went straight to the police for a further statement.”
