This story is from August 14, 2017

I was blinded by love for son, says Vijaypat Singhania

I was blinded by love for son, says Vijaypat Singhania
Vijaypat Singhania at his rented house in south Mumbai on Saturday.
(This story originally appeared in on Aug 14, 2017)
A week after Mumbai Mirror reported re tired business tycoon Vijaypat Singhania's allegations that he was deprived of his perks and was left without a house of his own because of his son Gautam, the chairman and managing director of Raymond Ltd, both sides have now indicated that they are ready for a reconciliation.
Breaking his silence on the feud with his son, Vijaypat said he was open to resolving the differences, but added a settlement required a give-andtake approach and he had "nothing left to give".
Gautam Singhania also told Mirror that he was "only too happy to sit across the table and address every concern", as he was convinced Vijaypat was being misled by "vested interests".
Vijaypat Singhania says son Gautam has reduced him to hand-to-mouth life
Gautam further said he was "pained" to see his father in trouble, and that he had set aside two days to discuss the problems, but Vijaypat did not turn up for the meeting. An emotional Vijaypat, whom this correspondent met at his rented residence in Grand Paradi society in south Mumbai on Saturday, said it was the love for his son that had made him give up his entire share in the company in the first place, and that he too was "completely open" to settlement talks.
Vijaypat, 78, who after retiring from Raymond Ltd was given the post of the chairman emeritus, said he was even willing to withdraw the court case he filed against Gautam if the latter was willing to "swear to Lord Tirupati Balaji" that his allegations were false.
Vijaypat says Gautam treating Raymond as 'personal fiefdom'
"If he comes to the court, puts his hand on the image of Lord Tirupati Balaji, and says what I'm saying is wrong, I'll withdraw my case. He has great faith in Lord Balaji and so do I," Vijaypat said.

Pausing every few minutes to regain his composure, Vijaypat said, "I am putting a lot at stake by making this statement and I want to see how much guts Gautam has and how religious he is. He is capable of doing such a thing, but my belief and my conscience say he will not."
While Gautam said his father was "deploying the media" to resolve family matters, Singhania senior said he was too proud a man for such a thing."I don't need the media to make my point, therefore I won't talk about the case before the high court as it is subjudice. But I will say that I am fighting for my rights."
Raymond faces flak over JK House sale
One of Vijaypat's biggest grouses is not being handed over the posses sion of a duplex in the redeveloped JK House on Malabar Hill, which he calls a violation of the agreement be tween the previous occupants of the building and Raymond, the prop erty's owner.
His lawyer had earlier told the court that Vijaypat, after giving up all his shares in the company, worth around Rs 1,000 crore, in Gautam's favour, was left to fend for himself as his perks such as car and a driver were taken away.
Vijaypat's petition also said a monthly rent of Rs 7 lakh for the Grand Paradi house was not be ing reimbursed even though it was a part of the agreement.
Gautam, however, insisted he had no bitterness towards his fa ther, and clarified that the apartment in JK House couldn't be handed over because the company's shareholders didn't approve such a move.
Vijaypat told Mirror that giving up complete control of Raymond in favour of Gautam was his "biggest mistake". "My mistake revealed my son's character," he said, "Power does not change one's character, only reveals it".
In an obvious reference to Gautam, he said, "For some reason you hid your real character, and the moment you get the money power, the arrogance that says `I can buy everything' gets revealed."
He said his shares were transferred in Gautam's name in a "moment of weakness" that arises from the love for one's family. "We love our family. But we also develop a weakness for our kin. And in one such moment of weakness, I gave away everything that I had," he said.
ADVICE FOR MIRROR READERS
He told Mumbai Mirror that he had an advice for the newspaper's readers: "Do not transfer all your assets to your children while you're alive. Maybe one child will turn out good out of ten, or maybe six will turn out caring and unselfish, but all ten will not be the same.There will always be a black sheep who will quickly forget what their father did for them and show their true colours."
Bitter at having to fight for his rights at his age, Vijaypat, who had accused Gautam of running "Raymond like his personal fiefdom", reiterated the charge, saying he was "using company's money for personal tours within India and abroad". He said he was partly responsible for things coming to such a pass, but was "hopeful" the board of directors will set things right.
"Directors need to function in a way that would take care of the requirements of norms of corporate governance, where ignorance is not an excuse. I hope that my directors and colleagues will think very carefully whether they are right in supporting these activities which are against the company's interest," he said.
Vijaypat revealed that he was also trying to build bridges with his estranged son Madhupati, who resides with his family in Singapore. Madhupati's four children have also demanded their shares in the family properties and businesses.
Vijaypat, however, insisted Madhu pati didn't have the skills to run the family business. "I don't think he was cut out to run a major company. But I am trying to relink with him... it will take some time. I talk to his wife Anuradha and her father every now and then," he said.
When asked whether Gautam got along with his brother Madhupati, Vijaypat said, "They were like RahuKetu." Regarding his grandchildren, he said, "I'd like to do anything that I can.But there's not much left to give them now, except my time."
On Gautam's offer to settle the dispute, the septuagenarian credited with taking The Complete Man to great heights, said: "I'm totally open to it but will talk only through my lawyers and not in-person. In a settlement, both have to give something and I have nothing to give. But I will obey the court's directive."
Gautam told Mirror that he had tried explaining to his father the company board and shareholders' stance on the JK House duplex on "several occasions". "I am extremely pained to see the position my father has taken on the JK House matter, which has been explained to him on several occasions.My father expects me to go against the recommendations of company board and disregard shareholders' verdict on JK House. In my capacity as the chairman, it is my job to honour decision of the board and protect interests of the shareholders, which must supersede any conflict of family interest," he said.
He said that he had already initiated efforts to resolve the dispute. "The entire family had blocked two full days to discuss the issue and try and resolve the matter, but he did not turn up," Gautam said, while not specifying the date when this meeting was supposed to take place.
The 51-year-old insisted his father was being misled. "It appears certain vested interest who may be seeking a substantial financial gain from him are preventing him from doing what is right.But he is my father and it pains me to see what he is going through. I will only be too happy to sit across the table and resolve all his concerns amicably and uphold the heritage, dignity and legacy of the Singhania family," Gautam said.
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