Gautam Singhania-Nawaz Modi divorce settlement: Following their separation, Raymond Group chairman Gautam Singhania and his wife Nawaz Modi have begun settlement negotiations, according to legal sources close to the couple. In recent days, lawyers from both sides met to explore possible settlement terms, according to two people familiar with the situation.
Gautam Singhania-Nawaz Modi divorce settlement: Following their separation, Raymond Group chairman Gautam Singhania and his wife Nawaz Modi have begun settlement negotiations, according to legal sources close to the couple. In recent days, lawyers from both sides met to explore possible settlement terms, according to two people familiar with the situation. As part of a marital settlement, Singhania’s estranged wife has claimed 75% of the industrialist’s estimated $1.4 billion fortune for their two kids and herself. Singhania proposed establishing a trust to hold the wealth, which Nawaz rejected.
According to legal sources close to Singhania, both parties have agreed on a more feasible settlement than the demand for a 75% stake, but details are still being worked out.
Raymond had already recruited Berjis Desai, senior independent legal counsel, to advise the board on events emerging from Singhania’s conflict with his wife. The board stated in an exchange filing last week that the spat “lies(s) outside their remit.” According to officials, Desai will watch developments in the case and keep the board updated.
