New Delhi : Raymond founder Vijaypat Singhania passed away in Mumbai late on Saturday night. He breathed his last at the age of 87. Gautam Singhania, his son and Raymond’s current president, announced his death. ‘X’ wrote on the social media platform, ‘With great sadness and heavy hearts, we announce the death of Dr. Padma Bhushan. We are informing about the demise of Vijaypat Kailashpat Singhania’.
Vijaypat Singhania passed away in Mumbai and will be cremated at Chandanwadi crematorium on Sunday. Family and friends may call at Haveli, L. on Sunday at 1:30 p.m. D. An appeal has been made to gather at Ruparel Marg. Vijaypat Singhania served as Chairman and Managing Director of Raymond Group from 1980 to 2000. Under his leadership, Raymond expanded beyond just suits and garments, into areas such as synthetic fabrics, denim, steel, industrial files and cement.
Also Read: Can Income Tax be paid through Credit Card? What is the whole process, know in detail
Singhania established Raymond as one of India’s most iconic lifestyle and fabric brands. In 1994, he was awarded the title of ‘Honorary Air Commodore’ by the Indian Air Force. He was also honored with the ‘Tenzing Norge National Adventure Award’ for his contribution to the field of aviation. In November 2005, at the age of 67, he achieved a historic feat by flying a hot air balloon to an altitude of about 69,000 feet.
Singhania’s wealth is worth thousands of crores
According to media reports, Vijaypat Singhania has left behind an estimated wealth of Rs.12000 crores. In 2015, he handed over 37% stake in his company to his son. His son, Gautam Singhania, now heads the Raymond Group.
Comments are closed.