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Vijaypat Singhania, retired Raymond tycoon, is now living `hand-to-mouth`, thanks to son Gautam
Singhania who now resides in rented row house in south Mumbai`s upscale Grand Paradi society blames his son Gautam for his deplorable financial condition.
Mumbai: Vijaypat Singhania, the man who invested his sweat in Raymond Ltd and made it India's largest clothing brand, is in shambles now. By his own admisison, one of the country's richest men, is leading a hand-to-mouth life at present.
Singhania who now resides in rented row house in south Mumbai's upscale Grand Paradi society blames his son Gautam for his deplorable financial condition.
Two days back, the senior Singhania had petitioned Bombay High Court seeking possession of a duplex in the redeveloped 36-storey J K House on Malabar Hill.
The court was informed about his miserable financial condition as well.
Vijaypat's lawyer told the court that 78-year-old business tycoon's son drove him away from the scene after he gave away all his wealth to him.
The court was informed that Singhnia gave up all his shares in the company worth around Rs 1000 crore in his son's favour.
Vijaypat Singhania was the chairman emeritus of the Raymond Group of clothing and textiles and a former Sheriff of Mumbai, from 19 December 2005 to 18 December 2006.