From Billionaire Boardrooms to a Rented Home: The Rise and Fall of Vijaypat Singhania

In the towering landscape of Indian industry — dominated by magnates such as Mukesh Ambani, Gautam Adani and the late Ratan Tata — the name Vijaypat Singhania once commanded comparable respect and influence. A titan of Indian business and a former entrant on global rich lists, the 86-year-old industrialist today lives in a rented apartment, a stark contrast to the empire he once helmed.

His dramatic fall from corporate eminence to personal hardship is rooted not in market collapse or hostile takeovers, but in a bitter family dispute that ultimately reshaped his destiny.

The Golden Era of Raymond

Vijaypat Singhania assumed leadership of the Raymond Group in 1980 following the death of his uncle, G.K. Singhania. Over the next two decades, as Chairman and Managing Director, he transformed Raymond into a globally respected textile and fashion powerhouse.

Defying resistance from within the extended family, Singhania modernised operations, expanded internationally, and positioned Raymond as a premium lifestyle brand synonymous with quality and sophistication. Under his stewardship, the company entered what many consider its golden era.

A Family Rift and Corporate Exile

The turning point came when Singhania decided to divide his wealth and business interests between his sons, Madhupati Singhania and Gautam Singhania. Family tensions escalated, with the elder son eventually relocating to Singapore.

In 2015, Vijaypat Singhania transferred his remaining 37% stake in Raymond to his younger son, Gautam Singhania — a decision he would later describe as the gravest mistake of his life.

Relations between father and son deteriorated sharply. In a stunning reversal of fortunes, Singhania was ousted from both his home and the business empire he had built. The once-billionaire industrialist found himself without the security and stature that had defined his life. In later interviews, he spoke emotionally about how his luxurious lifestyle had become a distant memory.

Beyond Business: Aviator and National Honouree

Singhania’s accomplishments extended far beyond the boardroom. Inspired by J.R.D. Tata, he became an accomplished aviator and set several aviation records. His contributions to adventure and aviation earned him the Tenzing Norgay National Adventure Award in 2001.

In 2006, he was honoured with the Padma Bhushan, India’s third-highest civilian award, in recognition of his contributions to industry and public life.

He was also considered as a successor to N.R. Narayana Murthy as Chairman of the Governing Council of IIM Ahmedabad, and was conferred the honorary rank of Air Commodore by the Indian Air Force.

A Cautionary Tale for Corporate India

Today, living away from the corridors of power he once dominated, Vijaypat Singhania’s life stands as a powerful cautionary tale — not merely about wealth, but about succession planning, family dynamics, and the fragile intersection between personal relationships and corporate control.

For India’s business community, his journey serves as both inspiration and warning: empires can be built through vision and resolve, but they can also unravel in ways no balance sheet can predict.