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Gautam Singhania
Leading textiles and apparel company Raymond has received a "huge number of inquiries" from global firms after the crisis in neighbouring Bangladesh and is ready to grab this opportunity, its Chairman & Managing Director Gautam Hari Singhania said. Raymond, which has invested in its garmenting facility to become the third largest suit maker in the world, is ready to "take advantage" from the current situation, Singhania told PTI. Asked if he expects shifting of some garmenting business to India from Bangladesh, he said, "We are hoping so. We are seeing the inquiries. It obviously needs a little bit of time, but we are certainly seeing positive signs on that." India is better-placed with its end-to-end supply capabilities linking all stages as companies as Raymond are present in both fabric and garmenting business, which, in turn, will save time for international brands also on final delivery, he said. "Bangladesh does not have a fabric supply. India has got a great opportunity to .
Textiles and fabric manufacturer Raymond Ltd on Thursday said its shareholders have approved the reappointment of Gautam Hari Singhania as Managing Director for five years effective from July 1, 2024, along with his proposed remuneration. The shareholders of the company at their Annual General Meeting (AGM) held today (June 27) have approved the re-appointment of Singhania," Raymond Ltd said in a regulatory filing. Proxy advisory firm, IiAS had asked shareholders of Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. IiAS had called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Singhania and Nawaz Modi to step off the board of Raymond until the divorce-related issues are settled and the results of an independent investigation are received. Besides, IiAS
A proxy advisory firm has recommended the shareholders of the leading textile and fabric manufacturer Raymond to vote against the reappointment of Chairman & Managing Director Gautam Singhania on the board of the company. It has called for an independent investigation into the accusations of domestic violence and misappropriation of funds raised by his estranged wife Nawaz Modi by the board of the company. Moreover, it has also called for Gautam Singhania and Nawaz Modi to step off the board of Raymond until divorce-related issues are settled and the results of an independent investigation are received. Besides, the proxy advisory firm IIAS has also recommended Raymond shareholders to vote against the proposed remuneration structure for Singhania claiming that it allows him to be paid in excess of regulatory thresholds. An e-mail sent to Raymond remained unanswered by the time of filing of the story. Raymond is conducting its Annual General Meeting on June 27, in which it has ...
Raymond patriarch Vijaypat Singhania on Tuesday ruled out reconciliation with his estranged son Gautam Singhania, whose social media post of a photo of them sparked speculations of resolving their differences. In a video message, Vijaypat Singhania said he had reluctantly gone to meet his son Gautam who insisted he meet over a cup of coffee without realising it was for an ulterior motive for taking my photograph, with GHS (Gautam Hari Singhania) to send a wrong message to the media. On March 20, billionaire Gautam Singhnia posted a photo on the microblogging platform X' through his account @SinghaniaGautam with his father Vijaypath. It was with a caption: Happy to have my father at home today and seek his blessings. Wishing you good health Papa always. A reply from the Raymond group is still awaited over this. In the video message, the senior Singhania said, Since the media is asking, I am clarifying my position. I try to clarify my position. On Wednesday on March 20, while I was
JK Tyre & Industries on Monday said it has raised Rs 500 crore by way of qualified institutional placement (QIP). The QIP received an overwhelming response from marquee investors including Indian mutual funds, insurance companies and foreign institutional investors, the tyre major said in a statement. "This is an important milestone in our corporate journey. Participation of several reputed investors in the issue endorses their faith and confidence in the company's growth story," JK Tyre Chairman and Managing Director Raghupati Singhania stated. QIP funds will be used for the purpose of growth capex and strengthening of the balance sheet, he added. JK Tyre shares were trading 0.16 per cent up at Rs 399 apiece on the BSE.
Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its Chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit. In an open letter to the company's five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members. The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar. Citing media reports, IiAS said Modi has alleged that she and her daughter were physically assaulted by Singhania in September 2023. She also alleged that company funds were being used for Singhania's personal benefit (CEO excesses) -- and that she was acting as a whistle-blower of sorts. "Despite such .
Amid issues in his personal life, Raymond Chairman and Managing Director Gautam Singhania has assured employees and board members that it is "business as usual" in the company and that he is fully committed to its smooth functioning. In an internal mail to the employees and the board members of Raymond, Singhania, who announced separation from his wife Nawaz earlier this month, said he has chosen not to comment on the reports in media "about matters pertaining to my personal life", saying "maintaining the dignity of my family is paramount to me". "However, I remain resolute as Chairman & Managing Director and am fully committed towards the smooth functioning of the company and its business. Even in these difficult times for me, I assure you that at Raymond, it is business as usual," he asserted in his mail. "As you all are aware that over the last couple of months, we have made significant strides towards growing our businesses exponentially and have had our best quarter in ...