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Gautam Singhania Re-appointed As Managing Director Of Raymond Amid Corporate Dynamics; Shares Fall Over 3% After Q4FY24 Earnings

Gautam Singhania Re-appointed As Managing Director Of Raymond Amid Corporate Dynamics; Shares Fall Over 3% After Q4FY24 Earnings
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Nawaz Modi-Singhania: Raymond Group companies oust Nawaz Modi-Singhania from board amid divorce dispute

Three companies within the Raymond Group, JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL), and Smart Advisory and Finserve, removed Nawaz Modi-Singhania from their boards through an EGM on March 31. This action follows a bitter settlement dispute between Modi-Singhania and her estranged husband, Raymond Group chief Gautam Singhania, after announcing their divorce in November 2023. The listed entity, Raymond, has not yet proposed her removal but may do so soon, according to sources. ....

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Divorce And The Business World

Being financially independent is crucial.
This spares women a lot of grief if the marriage, especially in large business families, breaks down. ....

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Raymond and Murugappa Cases Show Women in Corporate India Are Still Climbing Mountains

It s been 55 years since Virginia Slims declared, “You Have Come a Long Way Baby”, to entice women to smoke. This week, one wonders where we stand in the fight for gender equality. On the one hand, India can boast of two women presidents, a de facto and one de jure prime minister, a finance/defence minister, and number of self-made billionaire women, global and national chief executive officer (CEOs). ....

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Raymond independent directors urged to appoint interim CEO

Proxy advisory firm Institutional Investor Advisory Services (IiAS) has asked independent directors of Raymond Ltd to consider appointing an interim CEO and investigate the allegations of assault by its chairman and MD Gautam Singhania on his wife and daughter, and the use of company funds for personal benefit.

In an open letter to the company s five independent directors, IiAS also suggested they ask Singhania and his estranged wife Nawaz Modi, also a board member, to take time off from their responsibilities as board members.

The five independent directors to whom the letter was addressed are Mukeeta Jhaveri, Ashish Kapadia, Dinesh Lal, K Narsimha Murthy, and Shiv Surinder Kumar. ....

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