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Raymond board sacks founder Vijaypat Singhania as chairman-emeritus: report

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Retired business tycoon Vijaypat Singhania has been removed as chairman-emeritus of family-run Raymond Group, reported Mumbai Mirror on Wednesday.

Raymond board sacks founder Vijaypat Singhania as chairman-emeritus: report
Retired business tycoon Vijaypat Singhania has been removed as chairman-emeritus of family-run Raymond Group, reported Mumbai Mirror on Wednesday.
The sacking followed a series of letters Singhania wrote, first to the company secretary and then to the board, complaining he was not being kept in the loop about board meetings, the report said.
The September 7 letter signed by Thomas Fernandes, Raymond’s director secretarial, and company secretary said that the company had taken “strong dissent of the unparliamentary and derogatory language” used in Singhania’s letters, reported Mumbai Mirror citing the company's letter.
The letter added that the company was in no way concerned with what is happening between the family and that the decision to take away the title of chairman-emeritus was taken by the board due to Singhania’s behaviour.
Vijaypat Singhania had moved the Bombay High Court against his son Gautam Singhania, the chairman and managing director of Raymond Ltd, seeking possession of a duplex flat in the 37-storey JK House in the upscale Breach Candy.
 

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