They say health and wealth are never permanent and even the wealthiest people sometimes face unexpected downfalls. One such example is Vijaypat Singhania the former chairman of Raymond Group who was once richer than Mukesh Ambani and Gautam Adani. Today however he lives in a rented apartment far from the life of luxury he once enjoyed. Vijaypat’s troubles began in 2015 when he stepped down as chairman of Raymond Group and handed over control to his son Gautam Singhania. As part of the transition he also gave his entire 37 per cent stake in the company to his son. However their relationship soon turned sour. In 2017 Vijaypat accused Raymond Ltd of failing to give him a promised duplex apartment in the family-owned JK House in Mumbai. Their feud worsened and in 2018 Vijaypat was stripped of his title as chairman emeritus of Raymond. Despite the family dispute Raymond Ltd continues to thrive with a current market value of around Rs. 9478 crore. Born on October 4 1938 Vijaypat Singhania served as the Chairman of Raymond Group from 1980 to 2015. His remarkable contributions to business and society earned him several accolades. He was once a textile industry giant. He played a key role in transforming Raymond into a global fashion and textile leader. He took over the company after the death of his uncle G.K. Singhania and successfully expanded it despite facing resistance from his cousins who allegedly tried to seize control after his uncle’s passing. Beyond business Vijaypat is also known for his aviation achievements. In 2001 he was honored with the Tenzing Norgay National Adventure Award for his adventurous spirit. In 2006 he received the prestigious Padma Bhushan for his overall contributions. He has also penned books including a memoir about his microlight flight and his autobiography. Additionally he received an honorary Ph.D. from the London Institute of Technology & Research in recognition of his achievements. Raymond Group under Gautam Singhania’s leadership continues to grow. It has diverse business interests mainly in textiles and apparel but also in real estate consumer care and engineering with operations both in India and abroad.