Former Raymond chairman Vijaypat Singhania died in Mumbai on Saturday evening, his family confirmed in a statement.
The 87-year-old’s son Gautam Singhania, the group’s current chairman and managing director, announced the death in a social media post on ‘X’.
Singhania passed away “peacefully” in Mumbai, and the last rites will be performed on Sunday, a Raymond Group spokesperson said.
Led Raymond for two decades
A recipient of the Padma Bhushan, Vijaypat Singhania led Raymond as chairman for two decades till 2000. After stepping down, he handed over the reins of the company to Gautam Singhania and transferred his entire 37 per cent stake in the firm to his son.
Apart from his business career, Singhania was also a keen aviator and held a world record for the highest altitude gained in a hot air balloon.
Vijaypat Singhania and Gautam Singhania were embroiled in legal disputes some years ago, though the issues were later settled.
