SMART ADVISORY

Raymond Group companies oust Nawaz Modi-Singhania from board amid divorce dispute

Three companies within the Raymond Group, JK Investors (JKI) (Bombay), Raymond Consumer Care (RCCL), and Smart Advisory and Finserve, removed Nawaz Modi-Singhania from their boards through an EGM on March 31. This action follows a bitter settlement dispute between Modi-Singhania and her estranged husband, Raymond Group chief Gautam Singhania, after announcing their divorce in November 2023. The listed entity, Raymond, has not yet proposed her removal but may do so soon, according to sources.