Nawaz Modi Singhania quits Raymond board as director

Raymond Ltd Chairman and Managing Director Gautam Singhania's estranged wife Nawaz Modi Singhania has resigned as a director on the board, according to a statement by the company on Wednesday.

The resignation is effective today, the stock exchange filing said.

Commenting on the resignation, company CMD Gautam Singhania said, "We thank Ms Nawaz Modi Singhania for her services as a Board member over the years. As a company, we are committed to upholding the highest level of governance while continuing to navigate the evolving landscape of the industry."


In her resignation letter, shared on BSE by the company, Nawaz Modi Singhania said she was tendering her resignation as director with immediate effect due to personal reasons.

"I am thankful to the Board of Directors for the memorable association during my tenure and supporting me throughout my term," she wrote.

In 2023, Gautam Singhania announced his separation from his wife Nawaz, after 32 years of relationship. They have two children.

Nawaz Modi-Singhania was removed from the boards of three privately held companies within the Raymond Group, namely JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL), and Smart Advisory and Finserve.
Modi-Singhania was serving as a director in JKI since June 2015, in RCCL since December 2020, and in Smart Advisory & Finserve since October 2017.

Upon receiving notification of her removal from Smart Advisory and Finserve and Raymond Consumer Care, Modi-Singhania had expressed her grievances, stating, "I have been mistreated since the time I have been exposing Singhania over his misdeeds. First the assault, and now the ouster."