Realistic compromise reached between Gautam Singhania and Nawaz Modi

According to The Economic Times, Gautam Singhania, the MD of Raymond Group, and his estranged wife Nawaz Modi Singhania are currently attempting to come to a more “realistic” agreement over their divorce settlement, which could mean that their feud will soon be addressed.

Chairman of the Raymond Group and managing director (CMD) Gautam Singhania’s divorce settlement took a bad turn when his wife, Nawaz Modi, demanded 75% of the billionaire’s entire net worth and accused him of abusing him.

But after both sides’ attorneys presented a revised offer, Singhania and his spouse were able to come to a “more realistic” compromise. It is anticipated that within the following several days, the divorce and settlement agreement will be finalized.

This occurs as the board of directors and shareholders of Raymond continue to express worry about the damage done to the company’s valuation and share prices as a result of their MD’s public divorce settlement and claims of domestic abuse.

Raymond admitted that this is a topic outside of their purview, but he had recruited independent legal counsel Berjis Desai to advise the board over Singhania and Modi’s divorce case.

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The details of the new divorce settlement are unknown, but the newspaper claimed that Gautam Singhania and Nawaz Modi had negotiated a more reasonable agreement, dropping the businessman’s initial demand for 75% of his total worth.

Nawz Modi and Gautam Singhania’s divorce

On November 13, Gautam Singhania declared that he and his divorcing wife Nawaz Modi were divorcing, and that they were now finalizing the terms of their divorce agreement. In the original settlement agreement, Modi had requested 75 percent of his net wealth for herself and their two daughters.

Not long later, Nawaz Modi claimed that Gautam Singhania had physically abused their young daughter, stating he had “beaten up” her in their home. Singhania, though, declined to address these claims.

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