Raymond’s Independent Directors Must Probe Assault Allegations, Funds Misuse: Proxy Firms

2023 • 6min • News • Business


Published On: November 29, 2023 - In a latest development, proxies to shareholders have said that the Raymond company must launch an investigation into the charges of violence as well as misuse of company funds against Gautam Singhania. In effect, IIAS or Institutional Investor Advisory Services has asked Gautam Singhania to step down and in his place, an interim CEO could take charge while the investigation is conducted. In addition, a messy divorce with his now estranged wife Nawaz Modi is also making headlines with allegations of violence and physical assault surrounding. Earlier, Gautam Singhani allegedly threw out his father, Vijaypat Singhania, the founder of Raymonds after he got control of the business. Join News9’s Kartik Malhotra and Shriram Subramanian, Founder & MD, InGovern Research Services, for more on this story.