Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now

Vijaypat Singhania: As we all age, we start to lose confidence in ourselves

In his autobiography, Vijaypat Singhania devotes an entire section to why gifting his entire 37.17% stake in Raymond to his younger son, Gautam Hari, was the "biggest mistake" of his life.

October 30, 2021 / 10:25 PM IST
Vijaypat Singhania with his wife Asha. (Photo from 'An Incomplete Life: The Autobiography')

Vijaypat Singhania with his wife Asha. (Photo from 'An Incomplete Life: The Autobiography')

An Incomplete Life: The Autobiography by former Raymond Ltd chairman and managing director Vijaypat Singhania is a rather detailed biography.

Readers get a glimpse into his childhood, including how he and his brother were routinely slapped by their stepmother; how his marriage to Asha Singhania was fixed at the age of 12 (she was 9); how he and his brothers went off to the family's Kamla Retreat for cold coffee and relief; how he became a pilot; a 2-hour chat about microlight planes that he had with J.R.D. Tata over tea and biscuits; his relationship with his cousin Gopal Krishna Singhania; how they brought Merino sheep from Australia to India; how they finally closed down JK Chemicals Ltd (a workers' strike helped them close what had become an unprofitable business by then); and how he bestowed his shares in Raymond to his younger son Gautam Hari and came to rue the day.

Asha and Vijaypat Singhania with their son Madhupati. (Source: 'An Incomplete Life') Asha and Vijaypat Singhania with their older son Madhupati. (Source: 'An Incomplete Life')

The following excerpt is from the section titled "The Biggest Mistake of My Life", in which Singhania talks about his exit from Raymond, and how he came to give away his shares to Gautam Hari though that was not the original plan. (This excerpt is reproduced from the book, and has not been changed or edited in any way except for a deletion requested by the publisher.)