Vijaypat Singhania, Former Managing Director of the Raymond Group, Passes Away at 87

Vijaypat Singhania (1938-2024)

Financial and Business Impact

• Padma Bhushan Dr. Vijaypat Kailashpat Singhania, former Managing Director of Raymond Group, passed away at the age of 87 on Saturday.
• His son, Gautam Singhania, confirmed the news on social media, describing his father as a "visionary leader, philanthropist, and an inspiring personality."

Business Career and Legacy

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• Singhania served as Chairman and Managing Director of Raymond Group from 1980 to 2000.
• He was an accomplished entrepreneur and aviator, setting a world record for reaching the highest altitude in a hot air balloon and establishing a microlight endurance record in 1988.
• The Government of India honored him with the Tenzing Norgay National Adventure Award in 2001 and the Padma Bhushan in 2006 for his contributions to aviation and business.
• He was appointed as an Honorary Air Commodore by the Indian Air Force in 1994 and served as Sheriff of Mumbai in 2006.

Family Dispute and Transfer of Stake

• In 2015, Singhania transferred his entire 37% stake in Raymond Group to his younger son, Gautam Singhania, sparking a highly publicized and long-running family dispute.
• The dispute arose from various issues related to the transfer, including a contentious divorce battle with Nawaz Modi.

Notable Achievements

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• Published several books, including a detailed account of his microlight journey and his autobiography.
• Held a 23-day flight record in 1988 from London to Delhi.