Nawaz Modi's wife was removed from the board of three Raymond Group firms due to scandal. Nawaz Modi was removed from the board at an Extra Ordinary General Meeting (EGM) held on March 31 by JK Investors Limited (JKI), Raymond Consumer Care (RCCL), and Smart Advisory & Finserv. In one of its reports, Economics Times provided information about this.
Director of JKI since June 2015; RCCL from December 2020; and Smart Advisory and Finserv since October 2017 is Nawaz Modi's current appointment. As per the article, Raymond, a firm listed on a stock exchange, may propose to remove Nawaz Modi from the board shortly, although it hasn't done so yet.
On November 13, 2023, Raymond Group Chairman Gautam Singhania announced his divorce from wife Nawaz Modi Singhania. On Instagram and the social networking platform X, he posted...
Nawaz Modi stated: "First attacked, now banished."
Nawaz Modi remarked, "Ever since I have been exposing the wrongdoings of Gautam Singhania, I am being treated badly," after learning that he would be ousted off the board. He was beaten first, and now the company has fired him.
In a previous letter to the business, the shareholders of JK Investors and Smart Advisory expressed their lack of trust in Nawaz Modi's ability to serve as a director. A meeting had been called by shareholders to remove Nawaz Modi from the board. Following this, on March 31st, the board met, and on Thursday, the shareholders met. Nawaz was now expelled through the legal system.
In order to separate, Nawaz Modi demands a 75% portion of the property.
The article claims that Nawaz Modi announced his split from Gautam Singhania and stated the terms of that separation. He had requested a 75% part of the 1.4 billion dollar (about 11 thousand crore rupees) entire wealth. But no final choice has been made as of yet.
Singhania is home to a plethora of companies, such as apparel and real estate.
The Raymond Group's chairman and managing director is Gautam Singhania. He is said to be valued Rs. 11, 000 crores. The Raymond Group is involved in the apparel, denim, consumer goods, engineering, and real estate industries. The group is well-known in the market for ready-made clothing. It is also one of the top producers in the denim market. The business sells premium denim.
Gautam has always had an obsession with automobiles. Seeing this, on his eighteenth birthday, his father gave him a Premier Padmini 1100 automobile.
Among Gautam Singhania's several vehicles is a Tesla Model.
In 1999, Gautam Singhania wed Nawaz. Both had been dating for eight years before to this. The father of Nawaz was unprepared for this union.
Gautam Singhania launched the nightclub "Poison" in Bandra, Mumbai, in 2005. The Singhania family has a strong friendship with Bollywood actress Raveena Tandon.
Additionally, Gautam hosts an annual New Year's celebration for his friends and family at his farm residence in Alibaug, Maharashtra.
When Nawaz was ten years old, her parents got divorced.
Nawaz was born in Mumbai, the son of a lawyer. Nawaz is also a licensed attorney.
Nawaz's parents divorced when she was ten years old.
Nawaz is an extreme athlete. In Mumbai, he founded the Body Art Fitness Center.
In India, Nawaz is the first female instructor of Pilates and Gyrotonics.
In addition, he writes. Additionally, his novel Time Arrest has been released.
The father of Nawaz was not prepared for marriage.
In an interview, Gautam stated that getting married to a Parsi girl was not an easy task. Despite his disapproval of the marriage, Nawaz's father had to give in to his daughter's demands. Gautam and Nawaz had to undergo numerous changes even after getting married because of cultural differences.
Additionally, Gautam and his father Vijaypat Singhania have a falling out. There are accusations that Gautam Singhania even threw his father out of the house. Raymonds was founded by Vijaypat Singhania.