Months after divorce settlement talks between Raymond Group Chairman and Managing Director (CMD) Gautam Singhania and his estranged wife Nawaz Modi collapsed, Nawaz Modi claimed that there was a bid from Gautam Singhania's side to remove her from the board of directors.
In an exclusive interview with India Today TV, Nawaz Modi said, "They are invalid grounds for my removal. Has the major shareholder promotor lost his confidence in me for doing my job, doing my duty? He (Gautam) has lost his confidence in me because I am calling him out. I am going to be detailing these points out."
"This is his way of operating. Even all the AGMs are always held in Ratnagiri, so that people or shareholders are not able to get there. These are his 'Bhindi bazaar' tactics, as even his father calls it, of strong-arming people in a bid to get them out." Nawaz Modi said.
Nawaz Modi, who had demanded 75 per cent from her estranged husband as part of the divorce settlement, said she wants her daughter to get 25 per cent each
"It's $1.4 Billion on paper. My father-in-law, Dr Vijaypat Singhania, says I should be getting 50 per cent of his wealth while Gautam (Singhani) should keep the other 50 per cent. But I want only 25 per cent each for my daughter Niharika and Nysa," she said.
On her estrangement with Gautam Singhania, Nawaz Modi alleged that things became problematic when she became a 'whistleblower' and started calling out Gautam's 'misdeeds' and 'mismanagement' in running the company.
"He uses the company as his personal fiefdom. In fact, our personal problems arose just because I was already aware of too many of his misdeeds by then and I was calling them out," Nawaz claimed.
A member of the Raymond Board of Directors, Nawaz Modi also alleged that Gautam Singhania assaulted her and one of her minor daughters on his birthday last year, leading to a police complaint being filed against him.
"The incident happened after I started calling him out for his misdeeds. I started calling him out in August 2023 and the incident happened in September on his birthday," she said.
"He slapped, kicked, punched our minor daughter and me for several minutes non-stop. I filed a police complaint. Subsequently, I was hospitalised for several days and came out with a broken back. I went straight to the police for a further statement," Nawaz Modi said.
Published On:
Apr 25, 2024
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