Categories: BusinessNews

Raymond Share Price: The dispute between Gautam Singhania and Nawaz Modi may be resolved soon, Raymond shares rose 3 percent today

Raymond Stock Price: The divorce dispute between Raymond CMD Gautam Singhania and his wife Nawaz Modi is going to be resolved soon. According to The Economic Times report, Raymond’s top boss Gautam Singhania and his estranged wife Nawaz Modi are now trying to reach a more realistic settlement amid their divorce. Gautam Singhania and Nawaz Modi’s divorce settlement turned sour when Nawaz demanded 75 percent of the billionaire’s total wealth and accused him of misbehavior. However, lawyers from both sides have made a new proposal, after which Singhania and his wife are now close to an agreement. It is expected that the settlement and divorce deal will be finalized in the next few days. Meanwhile, Manglavar also saw a rise in the shares of Raymond, which were facing a continuous decline. At 10 am, the company’s shares were trading at Rs 1,639.60 on the National Stock Exchange with a rise of 3.61 percent i.e. Rs 57.10. Whereas, in the last one month, the company’s shares have seen a decline of about 13 percent.

Company directors had also expressed concern

The controversy over Raymond’s CMD was directly impacting the company’s market cap. Subsequently, Raymond’s shareholders and board of directors expressed concern about the impact on share prices and company valuation. Raymond had appointed independent legal advisor Barjis Desai to advise the board regarding the divorce dispute between Singhania and Modi, but he acknowledged the fact that it was a matter that was outside his jurisdiction. While the newspaper reported that a divorce settlement has been reached between Gautam Singhania and Nawaz Modi, rejecting the businessman’s initial demand for 75 percent of his net worth, the specifics of the new agreement are not yet known. Let us tell you that Gautam Singhania announced on November 13 that he and his wife Nawaz Modi are in the process of separation. Also, the couple is now considering the details of the divorce settlement. In the initial settlement deal, Modi had asked for 75 percent of his net worth for himself and his two daughters. Soon after, Nawaz Modi accused Gautam Singhania of physically abusing him, saying he had beaten his minor daughter at home. However, Singhania refused to comment on these allegations.

What is the story in the viral video?

According to media reports, the fight between Gautam Singhania and Nawaz Modi started over the Diwali party. Actually, Gautam Singhania had organized a house party at his farm house JK Gram in Thane. Even after being invited, Nawaz Modi was not allowed to enter the gate. Its entire video was recorded by Nawaz Modi. In this she can be heard saying that she was standing outside JK Gram. He was not even allowed to go inside. The video went viral very fast on social media. Many people shared this.

Modi had asked for 75 percent property

According to ET reports, Nawaz Modi has demanded 75% of his total net worth from Gautam Singhania. He has asked for this amount for his two daughters Niharika and Neesa. Let us tell you that 59-year-old Gautam Singhania married Nawaz Modi, daughter of solicitor Nadar Modi, in 1999 after a long love affair of about eight years. He also has two children. The net worth of Singhania, Chairman and Managing Director of textile and apparel group Raymond Limited, is said to be around Rs 11,000 crore. He said that while living together for 32 years as a couple, growing as parents and always being each other’s strength… we stepped forward with commitment, determination and faith as well as our The two most beautiful things in life (children) also came.

Mayank

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