From Raymond to Rented Flat: The Rise, Rift, and Reflection of Vijaypat Singhania

Discover the extraordinary journey of Raymond's iconic ex-chairman, Vijaypat Singhania—how he built an empire, lost it all to a bitter rift with his son, and now lives modestly despite once surpassing Ambani, Adani, and Tata.

1. Roots in a Textile Legacy

Born on 19 December 1938, Vijaypat Singhania was destined to become a name synonymous with India’s industrial might. As a scion of the Singhania family, owners of Raymond Woollen Mills, his early life was surrounded by affluence, tradition, and the promise of inheritance.

His grandfather, Lala Kailashpat Singhania, purchased Raymond in 1944, and over the decades, it became one of India’s biggest textile companies. But Vijaypat, unlike many heirs, did not rely solely on lineage. He had dreams of his own.

Educated in Mumbai, Vijaypat showed interest in mathematics and science. He once considered becoming a scientist, and even taught management at Jamnalal Bajaj Institute of Management Studies (JBIMS) before entering business full-time.

2. Reinventing Raymond: From Wool to World-Class

When he officially took over Raymond in the early 1980s, Vijaypat transformed the company from a wool-centric manufacturer to a diversified conglomerate:

Entered segments like polyester, denim, steel, and healthcare (KamaSutra condoms).
Built a global image with brands like Park Avenue, ColorPlus, and Parx.
Invested heavily in marketing campaigns with iconic taglines like “The Complete Man”.

His vision wasn’t just about products—it was about image, innovation, and aspiration. By the late 1990s, Vijaypat Singhania had a personal net worth greater than the Ambanis, Tatas, and Adanis, and Raymond was a household name.

3. A Man of Many Passions: Pilot, Author, Adventurer

Vijaypat was never just a businessman. His true passions lay in the skies:

1988: Flew solo from London to Delhi in a microlight aircraft—a rare feat at the time.
2005: Set a world record by flying a hot-air balloon to 69,000 ft altitude.
Became Honorary Air Commodore in the Indian Air Force.
Received Padma Bhushan (2006) and Tenzing Norgay National Adventure Award.

His love for flying, vintage cars, and literature made him a man of culture and daring. His books, including An Angel in the Cockpit and An Incomplete Life, reflect not just adventure but personal struggle and introspection.

4. The Succession That Unraveled It All

In 2000, Vijaypat handed over the reins of Raymond to his younger son, Gautam Singhania, while assuming the ceremonial title of Chairman Emeritus. In 2015, in what he believed was a noble and trusting gesture, he transferred his 37% controlling stake in Raymond to Gautam.

What was meant to be a father’s gift turned into a saga of betrayal, according to Vijaypat.

5. Rift with Gautam: Family, Property, and Public Feud

The cracks began to show over ownership of JK House, a luxurious skyscraper in Mumbai’s Malabar Hill. As per a family agreement, Vijaypat was to receive a duplex in the tower at a concessional rate. But according to him:

“I was promised a home… Instead, I was left with nothing. No house. No shares. Nothing.”

He accused Gautam of reneging on the agreement, blocking access, and removing privileges like chauffeur-driven cars, staff, and Raymond-sponsored accommodation.

He went public with his pain:

“If I had known this would happen, I would never have transferred my shares. I’d be on the streets if I didn’t have a little savings.”

The matter went to court in 2017, and since then, the father and son have been embroiled in legal battles. Courts advised reconciliation, but both parties held their ground.

6. A Life Now Lived in Simplicity

From owning planes and penthouses, Vijaypat Singhania now lives in a rented flat in South Mumbai. His current lifestyle is a far cry from the one he led as Raymond’s patriarch:

Allegedly pays rent upwards of ₹7 lakh/month.
Relies on residual savings.
No known active business or salary.
Does not receive company support.

Despite this, he maintains his dignity and continues to speak with wisdom and restraint.

7. Sources of Present-Day Income

Though his major assets are gone, Vijaypat survives with modest income through:

Personal Savings: “Money left by mistake,” as he puts it.
Book Royalties: From his memoirs and published reflections.
Investment Returns: Likely minimal, since much was handed over.
Award Honorariums: As a Padma Bhushan recipient and ex-Sheriff of Mumbai.
Consultancy/Speaking: Occasional invitations, though rare.

There’s no known significant business or investment venture under his name today.

8. The Elder Son: Madhupati Singhania

Less talked about but equally relevant is Vijaypat’s elder son, Madhupati, who moved to Singapore and stayed away from the business. It is said that he, too, had disputes with Vijaypat, leading to an estranged relationship and legal issues regarding inheritance and mental harassment.

This likely intensified Vijaypat’s decision to place full trust in Gautam—a decision he would later call “the biggest mistake” of his life.

9. Gautam Singhania: The Present Raymond Chairman

Gautam, unlike his father, has pursued a flamboyant lifestyle—yachts, supercars, and designer suits. Under his leadership, Raymond has diversified into real estate and repositioned its brands.

But his own personal life has also faced trouble. In 2023, Gautam's wife, Nawaz Modi Singhania, filed for divorce, accusing him of abuse and family neglect. This development further complicated the Singhania legacy, leaving the once-proud Raymond family deeply fractured in the public eye.

10. The Lessons Vijaypat Leaves Behind

Through his speeches, interviews, and books, Vijaypat Singhania leaves behind several life lessons:

Never transfer full assets during your lifetime.
Business success does not guarantee personal happiness.
Pride, ego, and lack of communication can destroy families.
Legal planning is essential in Indian joint family businesses.

His story is not just one of business—it’s a parable on fatherhood, legacy, love, and caution.

11. Timeline Summary

Year	Event
1938	Born into the Singhania family
1980	Became Raymond Chairman
1988	Microlight flight from London to Delhi
2000	Gautam becomes Raymond MD
2005	Balloon altitude world record
2015	Transfers shares to Gautam
2017	Legal battle begins
2023	Lives in a rented flat, disputes unresolved

12. Conclusion: The Complete Man in an Incomplete Life

Vijaypat Singhania may no longer own corporate towers or fly his private aircraft, but he lives with the richness of experience and hard-earned wisdom. He represents the paradox of success—a man who touched the skies, yet was brought to the ground not by markets or money, but by family discord.

His journey from Raymond’s helm to rented housing is a powerful reminder that material wealth without emotional harmony can often become meaningless.

Yet, in interviews and writings, Vijaypat never begs for sympathy. He holds his head high, writes his truth, and remains a symbol of courage, intellect, and endurance.

Author's Note

This article is researched, compiled, and written by Awdhesh Kumar for “The Financial and Tech Literacy” blog. The blog aims to present real, relatable stories from the worlds of finance, business, and life, inspiring and educating readers.

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