Raymond Limited's Director Nawaz Modi Singhania resigns

Nawaz Modi Singhania, who was the director on the board of Raymond Limited, has resigned from her position.

Addressing the mail to the board of directors as highlighted in the exchange filing, Nawaz stated, "Due to personal reasons, I hereby tender my resignation as Director of Raymond Limited with immediate effect. I am thankful to the Board of Directors for the memorable association during my tenure and supporting me throughout my term."

Commenting on the resignation, Gautam Singhania, chairman and managing director, Raymond Limited, said, “We thank Ms. Nawaz Modi Singhania for her services as a Board member over the years. As a company, we are committed to upholding the highest level of governance while continuing to navigate the evolving landscape of the industry.”

On April 25, 2024, it was reported that Nawaz, who was a board director at JK Investors, Smart advisory-finserve and Raymond Consumer Care Ltd (RCCL), had been removed from her position in all the three companies. To CNBC-TV18, Nawaz had stated that her ouster was due to Gautam Singhania having lost the confidence in her.

Further, she had added that the reasons cited by the board members were not enough to remove her from her position. On November 13, 2023, Gautam had announced his split from Nawaz. Days after, Nawaz publicly accused Gautam of physically assaulting her and her daughter that led to hospitalisation.

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