Raymond LTD in high court, Vijaypat Singhania, Gautam Singhania Fight in open

Ayupp

Mumbai: Bombay High Court asked famous industrialist Vijaypat Singhania and his son Gautam Singhania to resolve property dispute with mutual consent. Gautam is the Chairman and Managing Director of Raymond Limited. All shares of Vijaypath Raymond have been named after the son and the son has forced him to stay at the rented house.

78-year-old Vijaypat Singhania filed a petition in the High Court accusing his son of not respecting mediation in property dispute between family members. Raymond Limited has not entrusted duplication to JK House Building in South Mumbai.

Justice GS Kulkarni said, "Such a case should not come directly to the court. This dispute is between father and son. Try and resolve it with consent. In the dispute the attorneys of all parties said that they are approved by the court's suggestion.

What is the case

JK House is a 14-storey building built in 1960. Four duplexes were given to Raymond's subsidiary Pashmina Holdings in 2007. The company has revived them again. According to the agreement between Vijaypat Singhania and Gautam, Veena Devi (widow of Vijaypatt's brother Ajaypat), sons of Veena, Anant and Akshaypat, each got 5185 square feet duplex.

Stop Third Party Right

The court, while adjourning the hearing till August 22, said that Raymond will not produce any third party rights (selling or leasing) in two floors. It is in dispute and will remain closed till next order.

Accusations of occupying large areas

The famous businessman has accused son Gautam of occupying a large area in JK House. He has said that he is not authorized to do this. He has said that Raymond has not responded to his offer to get duplicate possession. That's why he have to come to court.

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