Nawaz Modi Singhania removed from boards of 3 Raymond Group firms

JK Investors Bombay, Smart Advisory and Raymond Consumer Care have removed Nawaz Modi Singhania as their director, the companies spokespersons said in their respective statements. 

Their shareholders wrote to the companies that they lost confidence in Singhania as a Director and requested to convene a shareholder meeting to remove her from the boards, the statements said. 

“JK Investors Bombay and Smart Advisory are closely held companies. The boards of these companies (including Singhania) met on 31 March and convened shareholders' meetings for today. She has now been removed as Director following the due process of the law,” Spokesperson JK Investors (Bombay) and Smart Advisory said in a statement.