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Business
Meet man who was once richer than Mukesh Ambani, lost Rs 12000 crore net worth, is now homeless, know his tragic story
Raymonds and Singhania's family have been making headlines since the announcement of Chairman and Managing Director, Gautam Singhania's divorce with wife Nawaz Modi. As part of the divorce settlement, Modi has demanded 75 per cent of the Rs 11,660 crore property of Singhania. Now, Gautam Singhania's father and former MD of Raymond, Vijaypat Singhania has come out in support of Nawaz instead of his own son Gautam. Under the Hindu Marriage Act as I know, 50% of the husband's holding automatically goes to the wife in a separation. A very simple lawyer can get her that under the Hindu Marriage Act. Why is she fighting for 75%? Gautam is never going to give in because his motto is to buy everybody and buy everything. That's what he did with me. I didn't have that kind of money left to fight him. He bought everything. He'll buy everything. By fighting like this, I don't think she'll get much. Vijaypat Singhania, at one time, ran the whole Raymond empire. He was at that time one of the richest men in India. But today he lives in a rented apartment. he was once richer than Mukesh Ambani because Ambani was very young when Vijaypat was already the owner of Raymond Group. But, his fate took a turn when his son ousted him from his house. Vijaypat Singhania is struggling to maintain his life and is struggling to live a decent life.
Business
Commercial LPG cylinder prices hiked by over ₹100 from today. Check latest rates’
The Oil Marketing Companies (OMCs) on Wednesday hiked the prices of commercial LPG cylinders by ₹101.5 per cylinder in its monthly revision of prices across the country. The 19 kg cylinder would now cost ₹1,833 from ₹1731.5 in Delhi effective from November 1.
Business
Paytm founder Vijay Shekhar Sharma launches fund to invest in AI, EV startups
Paytm founder and chief executive officer Vijay Shekhar Sharma launched a Category II Alternate Investment Fund (AIF) ‘VSS Investments Fund’ with a total size of the fund at Rs 20 crore with a green shoe of Rs 10 crore on October 23. The new fund will invest in startups within Artificial Intelligence and Electric Vehicles (EV)-related startups, that are incubated in India, and are specially focused to serve Indian consumers and businesses.
Business
Akbar Al Baker, who helmed Qatar Airways for 27 years as CEO, to step down. Badr Al-Meer named his successor
Akbar Al Baker, the chief executive officer of Qatar Airways, will step down from his post after helming the state-run carrier for 25 years. “Qatar Airways Group confirms after 27 years of remarkable service, Qatar Airways Group Chief Executive - His Excellency Mr. Akbar Al Baker, will be stepping down from his current position as Group Chief Executive effective 5 November 2023, and will be succeeded by Engr. Badr Mohammed Al-Meer as Group Chief Executive for Qatar Airways”, the airline said in a statement.
Business
Elon Musk says he will give $1 billion to Wikipedia if it changes name to…
Tesla CEO Elon Musk offers Wikipedia $1 billion to change its name in a playful internet banter. The unusual proposition, made on Twitter, has garnered much attention from the online community, with some worried about Wikipedia's tendency to seek donations and others joking about Musk's typical rich guy antics.
